BHARATRAS

Bharat Rasayan Limited

Technical-grade pesticides and agrochemicals manufacturer

Commodities›Chemicals›Fertilizers & Agrochemicals›Pesticides & Agrochemicals

bharatgroup.co.in(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹997.50
Market cap
1,658 Cr
Stock P/E
11.9
P/B
1.30
Dividend yield
0.0%
ROE (FY26)
11.4%
ROCE (FY26)
15.5%
Operating margin (FY26)
13.9%
Debt / equity (FY26)
0.0010
OCF / EBITDA (FY26)
66.3%
OCF / EBITDA (3Y)
70.2%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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What you need to know

Bharat Rasayan makes pesticides (agrochemicals) at two plants in India and sells them to customers in India and, through exports, to multinational agrochemical companies and traders.

Company snapshot

12thBy market cap

Ranked among 23 companies in Pesticides & Agrochemicals.

What we see

Positives
  • ✓Debt-to-equity of 0.00x — the company is largely funded by its own money, not borrowed funds.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales263 Cr233 Cr310 Cr282 Cr328 Cr256 Cr307 Cr377 Cr286 Cr270 Cr308 Cr338 Cr
Operating expenses (approx.)248 Cr205 Cr240 Cr244 Cr273 Cr215 Cr266 Cr304 Cr253 Cr228 Cr258 Cr287 Cr
EBITDA15 Cr28 Cr69 Cr38 Cr55 Cr42 Cr40 Cr73 Cr33 Cr43 Cr50 Cr51 Cr
OPM %5.5%12.0%22.4%13.5%16.7%16.3%13.1%19.4%11.6%15.8%16.3%15.0%
Other income4 Cr4 Cr11 Cr6 Cr7 Cr7 Cr6 Cr7 Cr9 Cr9 Cr16 Cr6 Cr
Interest0.53 Cr1 Cr1 Cr0.97 Cr1 Cr1 Cr1 Cr1 Cr1 Cr1 Cr0.93 Cr1 Cr
Depreciation6 Cr7 Cr6 Cr6 Cr6 Cr7 Cr7 Cr6 Cr6 Cr7 Cr7 Cr7 Cr
Profit before tax10 Cr22 Cr84 Cr53 Cr46 Cr52 Cr35 Cr54 Cr33 Cr52 Cr51 Cr49 Cr
Tax %39.3%29.3%20.2%18.7%29.8%21.5%27.3%26.4%25.6%22.6%25.9%23.9%
Net profit6 Cr15 Cr67 Cr43 Cr32 Cr41 Cr25 Cr40 Cr24 Cr40 Cr38 Cr37 Cr
EPS (₹)₹14.44₹36.85₹161.51₹103.77₹77.35₹97.54₹60.48₹95.45₹67.10₹24.08₹22.95₹22.40

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales992 Cr1,215 Cr1,092 Cr1,301 Cr1,234 Cr1,045 Cr1,173 Cr1,242 CrSign in free for the trailing twelve months
Operating expenses (approx.)805 Cr986 Cr852 Cr1,046 Cr1,037 Cr927 Cr998 Cr1,043 CrSign in free for the trailing twelve months
EBITDA187 Cr229 Cr240 Cr255 Cr197 Cr117 Cr175 Cr199 CrSign in free for the trailing twelve months
OPM %18.9%18.9%21.9%19.6%16.0%11.2%14.9%16.0%Sign in free for the trailing twelve months
Other income3 Cr17 Cr7 Cr16 Cr19 Cr21 Cr26 Cr41 CrSign in free for the trailing twelve months
Interest16 Cr16 Cr4 Cr7 Cr6 Cr3 Cr5 Cr5 CrSign in free for the trailing twelve months
Depreciation17 Cr22 Cr26 Cr25 Cr26 Cr26 Cr27 Cr26 CrSign in free for the trailing twelve months
Profit before tax155 Cr205 Cr215 Cr234 Cr174 Cr123 Cr185 Cr193 CrSign in free for the trailing twelve months
Tax %28.1%23.2%23.9%24.7%28.4%22.6%23.8%24.6%Sign in free for the trailing twelve months
Net profit112 Cr158 Cr164 Cr176 Cr125 Cr96 Cr141 Cr146 CrSign in free for the trailing twelve months
EPS (₹)₹262.49₹371.03₹385.72₹423.52₹299.89₹229.86₹339.14₹87.67Sign in free for the trailing twelve months
Dividend payout %——0.4%0.4%0.5%0.7%0.4%0.4%Sign in free for the trailing twelve months
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The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital4 Cr4 Cr4 Cr4 Cr4 Cr4 Cr4 Cr8 Cr
Reserves405 Cr560 Cr723 Cr766 Cr889 Cr984 Cr1,126 Cr1,266 Cr
Borrowings247 Cr94 Cr58 Cr174 Cr28 Cr80 Cr85 Cr1 Cr
Other liabilities100 Cr94 Cr122 Cr146 Cr152 Cr129 Cr193 Cr157 Cr
Total liabilities756 Cr752 Cr908 Cr1,090 Cr1,074 Cr1,197 Cr1,408 Cr1,433 Cr
Fixed assets (net)149 Cr203 Cr191 Cr228 Cr224 Cr230 Cr229 Cr246 Cr
CWIP35 Cr18 Cr18 Cr11 Cr11 Cr6 Cr15 Cr46 Cr
Investments0.09 Cr9 Cr150 Cr43 Cr67 Cr143 Cr298 Cr324 Cr
Inventories210 Cr160 Cr169 Cr277 Cr323 Cr267 Cr290 Cr331 Cr
Trade receivables279 Cr251 Cr296 Cr464 Cr325 Cr394 Cr419 Cr385 Cr
Cash & bank6 Cr46 Cr27 Cr0.33 Cr19 Cr32 Cr55 Cr23 Cr
Other assets76 Cr65 Cr58 Cr66 Cr105 Cr125 Cr100 Cr78 Cr
Total assets756 Cr752 Cr908 Cr1,090 Cr1,074 Cr1,197 Cr1,408 Cr1,433 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity-52 Cr263 Cr170 Cr-65 Cr213 Cr41 Cr172 Cr132 Cr
Cash from investing-48 Cr-68 Cr-153 Cr51 Cr-61 Cr-90 Cr-157 Cr-96 Cr
Cash from financing102 Cr-169 Cr-40 Cr-25 Cr-152 Cr49 Cr-0.59 Cr-89 Cr
Net cash flow4 Cr40 Cr-19 Cr-26 Cr1 Cr14 Cr23 Cr-33 Cr
Free cash flow (OCF − Capex)-100 Cr204 Cr140 Cr-121 Cr190 Cr14 Cr136 Cr59 Cr

Ratios

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %26.1%33.6%27.9%25.5%19.5%11.8%15.6%15.5%
ROE %27.3%27.9%22.5%22.9%13.9%9.7%12.5%11.4%
Debtor days102759913096138130113
Inventory days1067492109138144128151
Days payable2218342732396344
Cash conversion cycle186131157212202242196219
OCF / EBITDA %-28.0%114.6%71.1%-25.7%108.1%35.0%98.4%66.3%
OCF / EBITDA % (3 years)——58.0%50.8%46.0%33.2%87.1%70.2%
Debt / equity0.600.170.080.230.030.080.080.0010
Current ratio1.923.383.822.594.644.604.197.78
Net debt / EBITDA1.29———0.050.410.17-0.11