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Bharat Rasayan Overview

Bharat Rasayan Ltd is an totally India-based company engaged in manufacturing of insecticides-technical, formulations and its intermediates. The Company in the main gives Metaphenoxy Benzaldehyde. The Company's products are Insecticides, which include Acetamiprid, Bifenthrin, Chlorpyrifos, Cypermethrin, Imidacloprid, Permethrin and Thiamethoxam; Herbicides, which consist of Clodinafop Propargyl, Cloquintocet Mexyl (Safener), Diuron and Metsulfuron Methyl; Fungicides, which consist of Tricyclazole and Myclobutanil; Acaricide, which consist of Fe...Read More

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Bharat Rasayan Key Financials

Market Cap ₹2295 Cr.

Stock P/E 16.3

P/B 1.9

Current Price ₹1381

Book Value ₹ 743.1

Face Value 5

52W High ₹3030.3

Dividend Yield 0.03%

52W Low ₹ 1202.1

Bharat Rasayan Share Price

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Volume
Price

Bharat Rasayan Quarterly Price

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Bharat Rasayan Peer Comparison

Bharat Rasayan Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 263 233 310 282 328 256 307 377 286 270
Other Income 4 4 11 6 7 7 6 7 9 9
Total Income 267 236 321 288 335 264 313 385 295 280
Total Expenditure 248 205 240 244 273 215 266 304 253 228
Operating Profit 19 31 80 44 62 49 46 80 42 52
Interest 1 1 1 1 1 1 1 1 1 1
Depreciation 6 7 6 6 6 7 7 6 6 7
Exceptional Income / Expenses -0 -0 0 0 0 0 0 -15 0 1
Profit Before Tax 12 24 73 37 54 41 38 58 35 46
Provision for Tax 4 6 17 10 14 11 9 14 8 12
Profit After Tax 8 17 56 27 40 30 28 44 26 34
Adjustments -2 -2 11 16 -8 11 -3 -4 2 6
Profit After Adjustments 6 15 67 43 32 41 25 40 28 40
Adjusted Earnings Per Share 3.6 9.2 40.4 25.9 19.3 24.4 15.1 23.9 16.8 24.1

Bharat Rasayan Profit & Loss

#(Fig in Cr.) Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 992 1215 1092 1301 1234 1045 1173 1240
Other Income 3 17 7 16 19 21 26 31
Total Income 995 1232 1099 1317 1254 1066 1199 1273
Total Expenditure 805 985 852 1049 1037 927 998 1051
Operating Profit 190 247 247 267 217 139 201 220
Interest 16 16 4 7 6 3 5 4
Depreciation 17 22 26 25 26 26 27 26
Exceptional Income / Expenses -2 -3 -1 -0 -4 0 0 -14
Profit Before Tax 155 205 215 234 174 123 185 177
Provision for Tax 44 48 51 58 49 28 44 43
Profit After Tax 112 158 164 176 125 96 141 132
Adjustments 0 0 0 0 0 0 0 1
Profit After Adjustments 112 158 164 176 125 96 141 133
Adjusted Earnings Per Share 65.6 92.8 96.4 105.9 75 57.5 84.8 79.9

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 12% -3% -1% 0%
Operating Profit CAGR 45% -9% -4% 0%
PAT CAGR 47% -7% -2% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -42% -18% -14% 19%
ROE Average 13% 13% 17% 21%
ROCE Average 17% 16% 21% 24%

Bharat Rasayan Balance Sheet

#(Fig in Cr.) Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 409 564 727 770 893 988 1130
Minority's Interest 0 0 0 0 0 0 0
Borrowings 40 22 0 1 0 0 0
Other Non-Current Liabilities 14 12 10 10 10 13 17
Total Current Liabilities 293 153 170 309 173 197 262
Total Liabilities 756 752 908 1090 1076 1198 1409
Fixed Assets 150 203 191 228 225 230 230
Other Non-Current Assets 42 30 67 61 58 60 86
Total Current Assets 564 519 650 801 793 907 1094
Total Assets 756 752 908 1090 1076 1198 1409

Bharat Rasayan Cash Flow

#(Fig in Cr.) Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 1 6 46 27 0 19 32
Cash Flow from Operating Activities -52 263 170 -65 213 41 172
Cash Flow from Investing Activities -48 -68 -153 51 -61 -90 -157
Cash Flow from Financing Activities 102 -169 -40 -25 -152 49 -1
Net Cash Inflow / Outflow 3 25 -22 -39 1 0 14
Closing Cash & Cash Equivalent 6 46 27 0 19 32 55

Bharat Rasayan Ratios

# Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 65.62 92.76 96.43 105.88 74.97 57.47 84.79
CEPS(Rs) 75.56 105.67 111.58 120.89 90.63 72.98 101.03
DPS(Rs) 0.38 0.38 0.38 0.38 0.38 0.38 0.38
Book NAV/Share(Rs) 240.55 331.94 427.95 463.29 537.46 594.37 679.87
Core EBITDA Margin(%) 18.9 18.93 22 19.33 15.99 11.27 14.92
EBIT Margin(%) 17.28 18.24 20.13 18.52 14.59 12.13 16.19
Pre Tax Margin(%) 15.64 16.89 19.72 17.96 14.1 11.8 15.77
PAT Margin (%) 11.24 12.97 15.01 13.53 10.1 9.14 12.01
Cash Profit Margin (%) 12.94 14.78 17.37 15.44 12.2 11.61 14.31
ROA(%) 14.76 20.91 19.75 17.62 11.51 8.4 10.81
ROE(%) 27.28 32.41 25.38 23.51 14.98 10.15 13.31
ROCE(%) 26.14 33.74 30.45 27.87 19.31 12.74 16.63
Receivable days 102.67 79.56 91.28 106.5 116.62 125.56 126.47
Inventory Days 77.34 55.66 54.96 62.52 88.76 103.03 86.66
Payable days 23.79 18.23 26.8 28.02 31.1 37.37 50.49
PER(x) 15.93 14.04 24.39 28.76 30.32 36.97 31.06
Price/Book(x) 4.35 3.92 5.49 6.57 4.23 3.57 3.87
Dividend Yield(%) 0.04 0.03 0.02 0.01 0.02 0.02 0.01
EV/Net Sales(x) 2.03 1.86 3.68 4.02 3.06 3.41 3.76
EV/Core EBITDA(x) 10.6 9.14 16.26 19.57 17.41 25.71 21.92
Net Sales Growth(%) 0 22.46 -10.13 19.14 -5.12 -15.37 12.29
EBIT Growth(%) 0 29.27 -0.84 9.67 -25.28 -29.65 49.89
PAT Growth(%) 0 41.35 3.95 7.39 -29.19 -23.35 47.54
EPS Growth(%) 0 41.35 3.95 9.81 -29.19 -23.35 47.54
Debt/Equity(x) 0.6 0.17 0.08 0.23 0.03 0.08 0.08
Current Ratio(x) 1.92 3.38 3.82 2.6 4.6 4.6 4.18
Quick Ratio(x) 1.21 2.33 2.83 1.7 2.72 3.25 3.07
Interest Cover(x) 10.51 13.48 49.78 32.82 29.56 37.49 38.78
Total Debt/Mcap(x) 0.14 0.04 0.01 0.03 0.01 0.02 0.02

Bharat Rasayan Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 74.99 74.99 74.99 74.99 74.99 74.99 74.99 74.99 74.99 74.99
FII 0.34 0.34 0.35 0.46 0.45 0.49 0.56 0.47 0.43 0.54
DII 2.57 2.57 2.59 2.64 2.6 2.75 2.74 2.75 2.52 2.14
Public 22.09 22.09 22.07 21.9 21.96 21.77 21.71 21.79 22.05 22.33
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Bharat Rasayan News

Bharat Rasayan Pros & Cons

Pros

  • Company is almost debt free.

Cons

  • Company has a low return on equity of 13% over the last 3 years.
  • Debtor days have increased from 37.37 to 50.49days.
  • The company has delivered a poor profit growth of -2% over past five years.
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