Bharat Rasayan Ltd.

•

bharatgroup.co.inBSE: 590021NSE: BHARATRAS

Market Cap₹ 1,945 Cr.

Current Price

High / Low₹ 2,988 / 1,148

Stock P/E14.3

Book Value₹ 773

Price to Book3.96

Dividend Yield0.04 %

ROCE15.4 %

ROE12.0 %

Face Value₹ 5

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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

Company is almost debt free
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.26x)
Company comfortably covers its interest (35.5x coverage)
Company generates healthy free cash flow
Company has a consistent dividend-paying track record

CONS

Company's sales have been declining over the last five years
Company has delivered a poor profit growth of -4.5% over past five years
Operating margins have contracted to 14.9% from 20.5%

* 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
	239	263	233	310	282	328	256	307	377	286	270	308	3,382
	234	248	205	240	244	273	215	266	304	253	228	258	2,955
Operating Profit	6	15	28	69	38	55	42	40	73	33	43	50	427
OPM %	2.30%	5.54%	11.98%	22.38%	13.51%	16.71%	16.29%	13.11%	19.39%	11.56%	15.81%	16.27%	12.62%
	2	4	4	11	6	7	7	6	-8	9	11	10	56
Interest	0	1	1	1	1	1	1	1	1	1	1	1	10
Depreciation	6	6	7	6	6	6	7	7	6	6	7	7	71
Profit before Tax	1	12	24	73	37	54	41	38	58	35	46	52	483
Tax %	45.93%	33.54%	26.90%	23.26%	26.98%	25.40%	27.18%	24.91%	24.62%	24.31%	25.54%	25.40%	24.16%
Net Profit	1	8	17	56	27	40	30	28	44	26	34	39	366
	1.76	18.51	41.59	134.55	64.50	96.63	17.86	68.49	105.07	62.96	20.45	23.54	22.04

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	456	621	795	992	1,215	1,092	1,301	1,234	1,045	1,173	4,246
	374	510	637	805	985	852	1,049	1,037	927	998	3,693
Operating Profit	81	111	159	187	230	240	252	197	118	175	553
OPM %	17.83%	17.86%	19.96%	18.90%	18.93%	22.00%	19.34%	15.99%	11.27%	14.92%	13.02%
	1	2	4	1	14	6	16	15	21	26	86
Interest	13	12	12	16	16	4	7	6	3	5	14
Depreciation	17	16	16	17	22	26	25	26	26	27	91
Profit before Tax	52	84	135	155	205	216	235	180	109	169	616
Tax %	34.29%	35.02%	27.27%	28.11%	23.18%	23.84%	24.57%	27.41%	25.41%	26.06%	24.37%
Net Profit	34	55	98	112	158	164	177	131	82	125	466
EPS	79.73	128.35	231.41	262.49	371.03	387.09	426.31	314.86	196.40	301.08	—
Dividend Payout %	1.51%	1.17%	0.65%	0.57%	0.40%	0.39%	0.35%	0.48%	0.76%	0.50%	—

COMPOUNDED SALES GROWTH

10 Years:: 10%
5 Years:: -1%
3 Years:: -3%

COMPOUNDED PROFIT GROWTH

10 Years:: 15%
5 Years:: -5%
3 Years:: -11%

STOCK PRICE CAGR

10 Years:: 12%
5 Years:: -18%
3 Years:: -21%
1 Year:: -54%

RETURN ON EQUITY

10 Years:: 25%
5 Years:: 17%
3 Years:: 12%
Last Year:: 12%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	4	4	4	4	4	4	4	4	4	4
	142	196	294	405	560	724	768	897	978	1,102
	126	115	128	247	94	58	174	28	80	85
Trade Payables	26	19	35	45	39	61	68	75	73	142
	28	35	42	55	55	61	78	80	57	52
Total Liabilities	326	369	504	756	752	908	1,092	1,084	1,192	1,386
	136	131	148	150	203	191	228	225	230	230
Capital Work in Progress	1	1	7	35	18	18	11	11	6	15
	20	0	0	0	9	151	45	75	137	275
	57	84	94	210	160	169	277	323	267	290
	0	0	0	0	0	0	0	0	394	419
Cash & Bank	4	3	5	9	51	33	6	34	49	56
	109	150	250	350	310	347	524	417	109	100
Total Assets	326	369	504	756	752	908	1,092	1,084	1,192	1,386

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	65	40	66	-9	315	221	-8	264	41	172
Cash from Investing	-5	6	-33	-48	-68	-153	51	-61	-90	-157
Cash from Financing	-43	-24	2	102	-169	-40	-25	-152	49	-1
	-1	-2	-2	3	25	-22	-39	1	0	14

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	74.99	74.99	74.99	74.99	74.99	74.99	74.99	74.99	74.99
	0.35	0.46	0.45	0.49	0.56	0.46	0.43	0.54	0.40
	2.59	2.64	2.60	2.75	2.74	2.75	2.52	2.14	1.99
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	22.07	21.90	21.96	21.77	21.71	21.79	22.05	22.33	22.61

Documents

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

2026-09-07

Disclosure under SEBI Takeover Regulations

2026-09-07 - Centum Finance Limited has submitted to the Exchange a copy of Disclosures under Regulation 10(6)-Report to stock Exchange in respect of any acquisition made in reliance upon exemption provided for in regulation 10 of SEBI (SAST) Regulations, 2011.

2026-09-03

Disclosure under SEBI Takeover Regulations

2026-09-03 - MPG Family Trust has submitted to the Exchange a copy of Disclosure under Regulation 29(1) of SEBI (SAST) Regulations, 2011.

2026-09-03

Disclosure under SEBI Takeover Regulations

2026-09-03 - Centum Finance Ltd has submitted to the Exchange a copy of Disclosures under Regulation 10(6)-Report to stock Exchange in respect of any acquisition made in reliance upon exemption provided for in regulation 10 of SEBI (SAST) Regulations, 2011.

2026-09-01

Copy of Newspaper Publication

2026-09-01 - Bharat Rasayan Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-27

Disclosure under SEBI Takeover Regulations

2026-08-27 - Bharat Rasayan Limited has Submitted to the Exchange a copy of Disclosure under Regulation 10 (5) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

2026-08-27

Disclosure under SEBI Takeover Regulations

2026-08-27 - CENTUM FINANCE LIMITED has Submitted to the Exchange a copy of Disclosure under Regulation 10 (5) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

2026-08-24

Disclosure under SEBI Takeover Regulations

2026-08-24 - MPG Family Trust has submitted to the Exchange a copy of Disclosures under Regulation 10(6)-Report to stock Exchange in respect of any acquisition made in reliance upon exemption provided for in regulation 10 of SEBI (SAST) Regulations, 2011.

2026-08-24

Updates

2026-08-24 - Bharat Rasayan Limited has informed the Exchange regarding 'Disclosure in terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( SEBI Listing Regulations )'.

2026-08-17

Disclosure under SEBI Takeover Regulations

2026-08-17 - Bharat Rasayan Limited has Submitted to the Exchange a copy of Disclosure under Regulation 10 (5) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

News

Recent coverage and analyst commentary for BHARATRAS

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Bharat Rasayan Ltd.

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Free 5nance Account

Name

UPL

577.00

24.11

48708.57

1.04

-73.00

58.52

10181.00

10.47

12.00

13.43

PIIND

2396.05

31.20

36352.42

0.63

244.20

-38.95

1702.30

-10.43

16.00

21.69

SUMICHEM

481.50

41.48

24033.87

0.27

214.51

20.45

1063.35

0.62

23.39

21.94

BAYERCROP

3948.35

320.25

17744.71

3.80

321.60

15.39

1835.00

-4.16

30.08

20.03

SHARDACROP

783.10

11.28

7065.17

1.92

88.02

-38.36

1073.77

9.03

31.10

17.32

DHANUKA

977.80

14.68

4358.87

0.20

75.50

27.94

442.02

20.01

24.44

24.83

RALLIS

203.90

24.15

3965.22

1.47

-14.15

-274.26

507.54

7.70

13.23

-0.56

NACLIND

164.35

311.22

3849.79

0.00

20.84

59.82

383.33

-14.50

6.20

10.80

BHAGCHEM

263.40

124.10

3415.48

0.06

133.29

3249.84

1950.19

1475.55

4.55

15.65

GSPCROP

491.20

23.34

2285.00

0.20

263.94

1111.46

3859.95

1153.27

18.46

11.02

BHARATRAS

1170.30

13.57

1945.16

0.04

372.30

838.73

3381.60

796.03

16.63

15.19

INSECTICID

623.60

14.50

1814.54

0.32

43.87

-24.49

611.52

-11.52

15.97

11.10

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

239

263

233

310

282

328

256

307

377

286

270

308

3,382

234

248

205

240

244

273

215

266

304

253

228

258

2,955

Operating Profit

427

OPM %

2.30%

5.54%

11.98%

22.38%

13.51%

16.71%

16.29%

13.11%

19.39%

11.56%

15.81%

16.27%

12.62%

-8

Interest

Depreciation

Profit before Tax

483

Tax %

45.93%

33.54%

26.90%

23.26%

26.98%

25.40%

27.18%

24.91%

24.62%

24.31%

25.54%

25.40%

24.16%

Net Profit

366

1.76

18.51

41.59

134.55

64.50

96.63

17.86

68.49

105.07

62.96

20.45

23.54

22.04

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

456

621

795

992

1,215

1,092

1,301

1,234

1,045

1,173

4,246

374

510

637

805

985

852

1,049

1,037

927

998

3,693

Operating Profit

111

159

187

230

240

252

197

118

175

553

OPM %

17.83%

17.86%

19.96%

18.90%

18.93%

22.00%

19.34%

15.99%

11.27%

14.92%

13.02%

Interest

Depreciation

Profit before Tax

135

155

205

216

235

180

109

169

616

Tax %

34.29%

35.02%

27.27%

28.11%

23.18%

23.84%

24.57%

27.41%

25.41%

26.06%

24.37%

Net Profit

112

158

164

177

131

125

466

EPS

79.73

128.35

231.41

262.49

371.03

387.09

426.31

314.86

196.40

301.08

—

Dividend Payout %

1.51%

1.17%

0.65%

0.57%

0.40%

0.39%

0.35%

0.48%

0.76%

0.50%

—

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

142

196

294

405

560

724

768

897

978

1,102

126

115

128

247

174

Trade Payables

142

Total Liabilities

326

369

504

756

752

908

1,092

1,084

1,192

1,386

136

131

148

150

203

191

228

225

230

Capital Work in Progress

151

137

275

210

160

169

277

323

267

290

394

419

Cash & Bank

109

150

250

350

310

347

524

417

109

100

Total Assets

326

369

504

756

752

908

1,092

1,084

1,192

1,386

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

-9

315

221

-8

264

172

Cash from Investing

-5

-33

-48

-68

-153

-61

-90

-157

Cash from Financing

-43

-24

102

-169

-40

-25

-152

-1

-2

-22

-39

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

74.99

0.35

0.46

0.45

0.49

0.56

0.46

0.43

0.54

0.40

2.59

2.64

2.60

2.75

2.74

2.75

2.52

2.14

1.99

Government

0.00

22.07

21.90

21.96

21.77

21.71

21.79

22.05

22.33

22.61

Bharat Rasayan Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Bharat Rasayan Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI