Bhagiradha Chemicals & Industries Ltd.

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bhagirad.comBSE: 531719NSE: BHAGCHEM

Market Cap₹ 3,415 Cr.

Current Price

High / Low₹ 317 / 171

Stock P/E119.3

Book Value₹ 57

Price to Book3.07

Dividend Yield0.06 %

ROCE5.2 %

ROE3.7 %

Face Value₹ 1

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ABOUT

AI Sector View

AI GENERATED

Chemicals

Hold

The available domestic chemical proxies are mixed to weak. Fertilizers output was -8.0% YoY (2026-07) and sale quantity of fertilisers was 0.0% YoY (2026-05), although that high-frequency barometer is stale. FPI positioning is less negative than before, with net 3-month outflow only INR -11 crore versus INR -1229 crore in the prior 3 months to 2026-08-31, but the weak sector driver argues for a neutral stance.

Confidence

55%

View full sector analysis →

PROS

Latest quarter profit grew 28.8% YoY, showing strong momentum
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.00x)
Working capital cycle has improved - days down from 410 to 98
Company maintains a comfortable, low leverage position
Company has a consistent dividend-paying track record

CONS

Company has a low return on equity of 5.1% over last 3 years
Company has a low return on capital employed of 7.1%
Free cash flow has been persistently negative
Equity base is being diluted - shares outstanding up 24.6%
Company has delivered a poor profit growth of 2.3% over past five years
Operating margins have contracted to 9.5% from 15.9%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ChemicalsChemicalsPesticides & Agrochemicals

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	UPL	577.00	24.11	48708.57	1.04	-73.00	58.52	10181.00	10.47	12.00	13.43
2.	PIIND	2396.05	31.20	36352.42	0.63	244.20	-38.95	1702.30	-10.43	16.00	21.69
3.	SUMICHEM	481.50	41.48	24033.87	0.27	214.51	20.45	1063.35	0.62	23.39	21.94
4.	BAYERCROP	3948.35	320.25	17744.71	3.80	321.60	15.39	1835.00	-4.16	30.08	20.03
5.	SHARDACROP	783.10	11.28	7065.17	1.92	88.02	-38.36	1073.77	9.03	31.10	17.32
6.	DHANUKA	977.80	14.68	4358.87	0.20	75.50	27.94	442.02	20.01	24.44	24.83
7.	RALLIS	203.90	24.15	3965.22	1.47	-14.15	-274.26	507.54	7.70	13.23	-0.56
8.	NACLIND	164.35	311.22	3849.79	0.00	20.84	59.82	383.33	-14.50	6.20	10.80
9.	BHAGCHEM	263.40	124.10	3415.48	0.06	133.29	3249.84	1950.19	1475.55	4.55	15.65
10.	GSPCROP	491.20	23.34	2285.00	0.20	263.94	1111.46	3859.95	1153.27	18.46	11.02
11.	BHARATRAS	1170.30	13.57	1945.16	0.04	372.30	838.73	3381.60	796.03	16.63	15.19
12.	INSECTICID	623.60	14.50	1814.54	0.32	43.87	-24.49	611.52	-11.52	15.97	11.10

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	100	122	74	110	111	100	103	123	124	134	114	149	174
	93	108	66	96	99	90	93	115	114	120	103	135	161
Operating Profit	7	14	8	14	12	10	9	7	10	14	11	14	12
OPM %	7.20%	11.11%	10.99%	12.64%	10.69%	9.73%	9.05%	5.90%	8.09%	10.58%	10.02%	9.39%	7.06%
	0	0	1	3	4	5	6	6	4	1	1	1	2
Interest	2	2	2	2	1	2	2	1	3	3	2	3	3
Depreciation	3	3	3	3	3	3	3	3	3	3	4	4	3
Profit before Tax	3	9	5	12	11	10	9	9	7	8	7	8	14
Tax %	33.33%	30.73%	28.49%	29.45%	36.13%	24.54%	24.15%	41.89%	-14.84%	26.03%	26.03%	14.59%	25.53%
Net Profit	2	6	4	8	7	8	7	5	8	6	5	7	11
	0.21	0.60	0.35	0.78	0.63	0.63	0.57	0.41	0.64	0.46	0.37	0.56	0.82

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	203	183	384	246	318	436	502	407	436	521	571
	191	172	343	229	271	367	424	364	398	472	519
Operating Profit	11	12	41	17	47	68	78	43	38	50	52
OPM %	5.59%	6.32%	10.75%	6.89%	14.79%	15.68%	15.50%	10.55%	8.74%	9.52%	9.09%
	2	-8	1	4	2	1	2	5	20	6	4
Interest	7	7	8	5	8	9	5	8	7	11	11
Depreciation	4	3	5	7	8	9	10	11	12	14	14
Profit before Tax	3	-6	29	9	32	51	65	29	40	30	37
Tax %	61.18%	77.37%	37.21%	27.07%	27.33%	30.24%	28.65%	30.11%	31.57%	13.04%	23.25%
Net Profit	1	-1	18	7	23	36	46	20	27	26	29
EPS	0.00	0.00	0.00	0.00	28.24	43.21	4.56	19.51	2.11	2.02	—
Dividend Payout %	0.00%	0.00%	9.09%	0.00%	0.00%	6.94%	8.97%	5.13%	7.10%	7.41%	—

COMPOUNDED SALES GROWTH

10 Years:: 13%
5 Years:: 10%
3 Years:: 1%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 2%
3 Years:: -17%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: 27%
1 Year:: -4%

RETURN ON EQUITY

10 Years:: 9%
5 Years:: 11%
3 Years:: 5%
Last Year:: 4%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	5	8	8	8	8	8	10	10	13	13
	46	92	120	124	147	182	304	322	686	711
	65	62	48	44	63	81	50	57	68	84
Trade Payables	77	66	83	24	46	55	59	63	100	100
	9	8	13	24	8	17	23	116	46	40
Total Liabilities	202	235	271	224	273	342	446	568	914	948
	69	77	106	138	145	149	164	176	203	213
Capital Work in Progress	0	0	3	3	1	3	6	3	14	1
	0	0	0	0	8	9	42	80	42	410
	106	97	58	56	50	68	91	110	118	92
	0	0	0	0	0	0	0	106	174	200
Cash & Bank	1	4	3	4	1	3	3	8	17	17
	27	58	101	22	68	110	140	84	346	14
Total Assets	202	235	271	224	273	342	446	568	914	948

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	8	-27	53	51	9	15	25	39	-1	36
Cash from Investing	-6	-13	-38	-39	-21	-17	-59	-123	-250	-44
Cash from Financing	-2	43	-12	-9	15	12	46	88	260	7
	-0	3	-1	0	-2	2	-0	5	9	-1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	20.27	20.27	20.27	19.74	19.74	19.60	19.60	19.60	19.60
	0.17	0.15	0.18	0.04	0.05	0.05	0.20	0.14	0.10
	3.14	3.14	3.08	2.89	2.89	2.89	2.99	3.02	3.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	76.42	76.44	76.47	77.33	77.31	77.46	77.22	77.24	77.31

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-08-21

Credit Rating

2026-08-21 - Bhagiradha Chemicals & Industries Limited has informed the Exchange about Credit Rating

2026-08-10

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-10 - Bhagiradha Chemicals & Industries Limited has informed the Exchange about Schedule of meet

2026-08-06

Updates

2026-08-06 - Bhagiradha Chemicals & Industries Limited has informed the Exchange regarding 'Investors Presentation on the Financial Highlights for the quarter ended June 30, 2026'.

2026-08-04

Copy of Newspaper Publication

2026-08-04 - Bhagiradha Chemicals & Industries Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-03

Outcome of Board Meeting

2026-08-03 - Bhagiradha Chemicals & Industries Limited has informed the Exchange regarding Outcome of Board Meeting held on August 03, 2026.

2026-08-03

Outcome of Board Meeting

2026-08-03 - Bhagiradha Chemicals & Industries Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-07-31

Shareholders meeting

2026-07-31 - Bhagiradha Chemicals & Industries Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on July 31, 2026. Further, the company has informed the Exchange regarding voting results.

2026-07-31

Shareholders meeting

2026-07-31 - Bhagiradha Chemicals & Industries Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on July 31, 2026

2026-07-09

Copy of Newspaper Publication

2026-07-09 - Bhagiradha Chemicals & Industries Limited has informed the Exchange about Copy of Newspaper Publication

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