Madhya Bharat Agro Products Ltd.
•Add ratio to table
ABOUT
KEY POINTS
Revenue Breakup Mar 2022 • Manufacturing of Fertilisers: 93.4% • Manufacturing of Chemicals: 6.6%
AI Sector View
AI GENERATEDChemicals
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.
PROS
- Company has delivered good profit growth of 49.3% CAGR over last 5 years
- Company has delivered good sales growth of 58.7% CAGR over last 5 years
- Company generates healthy free cash flow
- Company has a consistent dividend-paying track record
- Company comfortably covers its interest (6.4x coverage)
CONS
- Company has a high debt-to-equity of 1.56x
- Operating cash flow has been negative in recent years
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.50x)
- Total debt has risen sharply - up 169.1% year on year
- Operating margins have contracted to 12.1% from 21.9%
- Stock is trading at 7.3x its book value
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| COROMANDEL | 1961.35 | 31.59 | 57871.77 | 0.56 | 381.56 | -23.93 | 8164.77 | 15.94 | 23.92 | 9.26 |
| FACT | 785.95 | 1818.91 | 50856.62 | 0.00 | -67.90 | -948.75 | 1567.84 | 65.14 | 11.30 | -2.73 |
| CHAMBLFERT | 415.70 | 8.64 | 16655.12 | 2.65 | 523.60 | -4.61 | 5027.02 | -11.77 | 25.50 | 16.42 |
| PARADEEP | 158.05 | 15.31 | 16413.81 | 0.95 | 392.54 | 53.43 | 6124.25 | 63.14 | 15.09 | 11.76 |
| MBAPL | 162.03 | 45.82 | 7099.10 | 0.06 | 329.62 | 1068.62 | 4163.01 | 916.15 | 19.41 | 15.83 |
| GSFC | 160.05 | 9.21 | 6377.63 | 3.12 | 158.54 | 14.39 | 3583.15 | 64.03 | 7.17 | 6.58 |
| RCF | 112.65 | 13.92 | 6214.77 | 1.19 | 73.53 | 35.09 | 3585.71 | 6.38 | 10.81 | 6.11 |
| KRISHANA | 181.93 | 28.60 | 5624.15 | 0.06 | 47.09 | 54.01 | 532.31 | 34.58 | 27.26 | 16.71 |
| NFL | 69.99 | 9.42 | 3433.56 | 1.49 | 113.38 | 387.47 | 4500.39 | 27.34 | 9.16 | 6.87 |
| SPIC | 70.12 | 6.97 | 1427.93 | 2.85 | 60.18 | -9.79 | 848.81 | 9.22 | 16.82 | 9.27 |
| MADRASFERT | 63.13 | 14.33 | 1017.03 | 0.00 | 34.59 | -21.49 | 814.01 | 21.07 | 27.70 | 6.46 |
| ZUARI | 225.95 | 1.01 | 950.30 | 0.00 | 118.70 | -90.68 | 615.21 | -50.63 | 50.40 | 25.25 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 149 | 278 | 244 | 146 | 200 | 278 | 284 | 297 | 410 | 450 | 612 | 395 | 416 | |
| 125 | 238 | 226 | 132 | 167 | 242 | 244 | 261 | 353 | 388 | 546 | 353 | 377 | |
| Operating Profit | 24 | 40 | 18 | 14 | 34 | 36 | 39 | 36 | 57 | 62 | 66 | 41 | 39 |
| OPM % | 16.19% | 14.52% | 7.38% | 9.60% | 16.80% | 13.04% | 13.89% | 12.16% | 13.91% | 13.74% | 10.85% | 10.45% | 9.32% |
| 1 | 1 | 0 | 9 | 2 | 2 | 2 | 6 | 3 | 2 | 3 | 9 | 5 | |
| Interest | 6 | 8 | 4 | 8 | 9 | 7 | 5 | 7 | 7 | 6 | 9 | 11 | 15 |
| Depreciation | 7 | 7 | 7 | 7 | 9 | 9 | 9 | 8 | 9 | 9 | 9 | 9 | 12 |
| Profit before Tax | 12 | 26 | 7 | 8 | 18 | 23 | 27 | 27 | 44 | 49 | 51 | 31 | 44 |
| Tax % | 41.75% | 41.75% | 80.03% | 82.21% | 36.02% | 39.22% | 33.56% | 47.14% | 36.11% | 37.25% | 37.40% | -94.98% | 25.52% |
| Net Profit | 7 | 15 | 1 | 1 | 11 | 14 | 18 | 14 | 28 | 30 | 32 | 60 | 33 |
| 0.83 | 1.70 | 0.15 | 0.16 | 1.31 | 1.58 | 2.04 | 1.63 | 0.64 | 3.48 | 3.62 | 6.82 | 0.75 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 82 | 90 | 116 | 131 | 186 | 491 | 982 | 817 | 1,059 | 1,867 | 1,874 | |
| 60 | 69 | 87 | 96 | 144 | 385 | 772 | 721 | 914 | 1,640 | 1,665 | |
| Operating Profit | 21 | 21 | 29 | 35 | 42 | 107 | 210 | 96 | 145 | 227 | 208 |
| OPM % | 26.10% | 22.82% | 25.42% | 26.53% | 22.40% | 21.69% | 21.36% | 11.77% | 13.73% | 12.13% | 11.12% |
| 4 | 0 | 0 | 0 | 0 | 0 | 5 | 11 | 11 | 17 | 19 | |
| Interest | 5 | 5 | 4 | 3 | 4 | 8 | 16 | 26 | 28 | 32 | 41 |
| Depreciation | 7 | 8 | 10 | 10 | 9 | 18 | 22 | 29 | 34 | 37 | 40 |
| Profit before Tax | 13 | 7 | 16 | 21 | 29 | 81 | 176 | 52 | 95 | 174 | 174 |
| Tax % | 11.52% | 29.75% | 27.42% | 30.88% | 29.16% | 29.76% | 29.50% | 52.47% | 39.26% | 13.71% | 11.04% |
| Net Profit | 12 | 5 | 11 | 15 | 20 | 57 | 124 | 25 | 57 | 150 | 155 |
| EPS | 0.00 | 0.00 | 0.00 | 6.77 | 9.24 | 13.01 | 14.17 | 2.84 | 6.56 | 17.14 | — |
| Dividend Payout % | 9.34% | 21.42% | 9.58% | 7.38% | 5.41% | 1.92% | 1.76% | 17.63% | 7.62% | 2.92% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 40%
- 5 Years:
- 59%
- 3 Years:
- 24%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 32%
- 5 Years:
- 49%
- 3 Years:
- 7%
STOCK PRICE CAGR
- 10 Years:
- 60%
- 5 Years:
- 76%
- 3 Years:
- 37%
- 1 Year:
- 96%
RETURN ON EQUITY
- 10 Years:
- 19%
- 5 Years:
- 27%
- 3 Years:
- 18%
- Last Year:
- 31%
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 | 22 | 22 | 22 | 22 | 22 | 22 | 44 | 88 | 88 | 88 |
| 80 | 84 | 95 | 108 | 127 | 183 | 285 | 263 | 316 | 462 | |
| 30 | 33 | 24 | 40 | 70 | 173 | 343 | 293 | 336 | 855 | |
| Trade Payables | 7 | 5 | 5 | 6 | 22 | 36 | 14 | 62 | 94 | 134 |
| 8 | 7 | 13 | 13 | 23 | 25 | 58 | 99 | 112 | 144 | |
| Total Liabilities | 146 | 151 | 159 | 189 | 264 | 439 | 743 | 804 | 946 | 1,682 |
| 94 | 102 | 93 | 83 | 85 | 153 | 203 | 265 | 279 | 436 | |
| Capital Work in Progress | 9 | 9 | 9 | 31 | 75 | 2 | 0 | 14 | 74 | 277 |
| 18 | 14 | 21 | 33 | 53 | 157 | 214 | 207 | 167 | 360 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 186 | 256 | 426 | |
| Cash & Bank | 0 | 0 | 0 | 1 | 0 | 8 | 21 | 12 | 12 | 25 |
| 25 | 25 | 36 | 41 | 51 | 118 | 304 | 120 | 157 | 157 | |
| Total Assets | 146 | 151 | 159 | 189 | 264 | 439 | 743 | 804 | 946 | 1,682 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 10 | 21 | 18 | 19 | 35 | -57 | -39 | 148 | 96 | -127 | |
| Cash from Investing | -17 | -16 | -1 | -22 | -56 | -13 | -65 | -92 | -92 | -373 |
| Cash from Financing | 8 | -3 | -14 | 9 | 25 | 85 | 141 | -61 | -4 | 501 |
| -0 | -0 | 0 | 1 | -1 | -0 | 6 | -6 | 0 | -0 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-10 - Madhya Bharat Agro Products Limited has informed the Exchange regarding 'Restructuring the utilisation of proceeds from the Preferential Issue of Equity Shares '.
2026-09-10 - Madhya Bharat Agro Products Limited has informed the Exchange regarding Outcome of Board Meeting held on September 10, 2026.
2026-08-29 - Madhya Bharat Agro Products Limited has submitted the Exchange a copy Srutinizers report of Extraordinary General Meeting held on August 28, 2026. Further, the company has informed the Exchange regarding voting results.
2026-08-28 - Madhya Bharat Agro Products Limited has informed the Exchange regarding Proceedings of Extraordinary General Meeting held on August 28, 2026
2026-08-20 - Madhya Bharat Agro Products Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-19 - Madhya Bharat Agro Products Limited has informed the Exchange regarding Corrigendum to Notice of Extra Ordinary General Meeting to be held on August 28, 2026
2026-08-03 - Madhya Bharat Agro Products Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-01 - Madhya Bharat Agro Products Limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on August 28, 2026
2026-07-31 - Madhya Bharat Agro Products Limited has informed the Exchange about Copy of Newspaper Publication
News
Recent coverage and analyst commentary for MBAPL
Loading news…
AI Stock Analyst
Madhya Bharat Agro Products Ltd.
Sign in to Chat with AI
Log in with your 5nance account to ask institutional questions about performance, financials, and outlook.
✨ Sign In to ChatFree 5nance Account