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MP Bharat Agro Prod

₹226.2 -4.4 | 1.9%

Market Cap ₹1982 Cr.

Stock P/E 79.8

P/B 5.6

Current Price ₹226.2

Book Value ₹ 40

Face Value 10

52W High ₹348.4

Dividend Yield 0.22%

52W Low ₹ 210

MP Bharat Agro Prod Research see more...

Overview Inc. Year: 1997Industry: Fertilizers

Madhya Bharat Agro Products Ltd manufactures and sells fertilizers and chemical substances in India. It offers beneficiated rock phosphate, sulphuric acid, single super phosphate, granulated single super phosphate, sulphur bentonite, and phosphate rich natural manure, in addition to oleum merchandise. The organization was incorporated in 1997 and is based in Bhilwara, India. Madhya Bharat Agro Products Ltd is a subsidiary of Ostwal Phoschem (India) Ltd.

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MP Bharat Agro Prod Share Price

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Peer Comparison

MP Bharat Agro Prod Quarterly Results

#(Fig in Cr.) Sep 2021 Dec 2021 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Net Sales 86 192 213 249 286 234 149 278 244 146
Other Income 0 0 0 0 4 1 1 1 0 9
Total Income 86 192 213 249 290 235 150 279 244 154
Total Expenditure 68 154 164 194 224 189 125 238 226 132
Operating Profit 19 38 49 55 66 46 25 41 18 23
Interest 2 2 3 4 4 5 6 8 4 8
Depreciation 4 4 5 5 6 7 7 7 7 7
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 13 32 41 46 55 34 12 26 7 8
Provision for Tax 4 10 12 14 16 10 5 11 5 6
Profit After Tax 9 23 29 33 39 24 7 15 1 1
Adjustments 0 -0 -0 0 0 0 0 0 0 0
Profit After Adjustments 9 23 29 33 39 24 7 15 1 1
Adjusted Earnings Per Share 1.1 2.6 3.3 3.7 4.4 2.8 0.8 1.7 0.1 0.2

MP Bharat Agro Prod Profit & Loss

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Net Sales 45 59 62 65 82 90 116 131 186 491 982 817
Other Income 0 0 6 0 4 0 0 0 0 0 5 11
Total Income 46 59 68 65 86 90 116 131 186 492 987 827
Total Expenditure 34 48 56 52 60 69 87 96 144 385 772 721
Operating Profit 12 11 13 12 25 21 30 35 42 107 215 107
Interest 5 3 3 3 5 5 4 3 4 8 16 26
Depreciation 2 2 3 4 7 8 10 10 9 18 22 28
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 5 5 6 6 13 7 16 21 29 81 176 53
Provision for Tax 2 2 2 -3 2 2 4 7 8 24 52 27
Profit After Tax 4 4 4 9 12 5 11 15 20 57 124 24
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 4 4 4 9 12 5 11 15 20 57 124 24
Adjusted Earnings Per Share 0.8 0.5 0.6 1.1 1.3 0.6 1.3 1.7 2.3 6.5 14.2 2.8

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 100% 96% 61% 36%
Operating Profit CAGR 101% 83% 59% 33%
PAT CAGR 118% 102% 90% 41%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -24% 123% 78% NA%
ROE Average 47% 31% 23% 17%
ROCE Average 38% 28% 23% 19%

MP Bharat Agro Prod Balance Sheet

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 26 69 72 91 102 106 117 130 149 205 328
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 26 4 3 16 21 19 17 29 41 32 41
Other Non-Current Liabilities 2 3 3 -1 -3 -2 -1 2 5 15 55
Total Current Liabilities 19 12 16 6 26 28 26 28 68 186 318
Total Liabilities 73 88 94 112 146 151 159 189 264 439 743
Fixed Assets 40 63 59 88 94 102 93 83 85 153 203
Other Non-Current Assets 7 6 8 2 10 10 10 34 77 5 39
Total Current Assets 26 19 27 22 42 39 56 72 103 281 501
Total Assets 73 88 94 112 146 151 159 189 264 439 743

MP Bharat Agro Prod Cash Flow

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 1 2 1 1 1 0 0 0 1 0 0
Cash Flow from Operating Activities -8 8 6 11 8 19 15 14 30 -72 -70
Cash Flow from Investing Activities -7 -1 -3 -27 -17 -16 -1 -22 -56 -13 -65
Cash Flow from Financing Activities 15 -8 -3 16 8 -3 -14 9 25 85 141
Net Cash Inflow / Outflow 0 -0 -1 0 -0 -0 0 1 -1 -0 6
Closing Cash & Cash Equivalent 2 1 1 1 0 0 0 1 0 0 6

MP Bharat Agro Prod Ratios

# Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) 0.81 0.5 0.56 1.05 1.34 0.58 1.3 1.69 2.31 6.51 14.17
CEPS(Rs) 1.24 0.77 1.03 1.45 2.15 1.5 2.49 2.88 3.38 8.58 16.73
DPS(Rs) 0 0 0 0 0.5 0.5 0.5 0.5 0.5 0.5 0.5
Book NAV/Share(Rs) 5.28 6.06 6.49 7.61 8.81 9.28 13.33 14.88 17.05 23.43 37.48
Core EBITDA Margin(%) 25.74 17.76 10.19 18.73 25.94 22.81 25.42 26.53 22.4 21.69 21.36
EBIT Margin(%) 22.18 14.67 14.64 13.47 22.37 13.87 16.7 18.75 17.43 18.05 19.61
Pre Tax Margin(%) 11.62 9.05 9.43 9.12 16.14 8.09 13.57 16.4 15.39 16.52 17.94
PAT Margin (%) 7.81 6.09 6.47 14.17 14.28 5.68 9.85 11.34 10.9 11.6 12.65
Cash Profit Margin (%) 11.99 9.45 11.94 19.61 22.92 14.65 18.8 19.29 15.95 15.29 14.93
ROA(%) 5.46 4.47 4.44 8.96 9.09 3.44 7.39 8.54 8.93 16.21 21.02
ROE(%) 16.58 10.7 8.89 16.2 16.3 6.45 11.54 12.01 14.47 32.15 46.54
ROCE(%) 20.17 15.81 16.7 12.47 18.83 10.96 14.9 15.66 16.61 30.15 37.77
Receivable days 22.06 10.49 19.32 35.64 43.78 49.59 53.46 69.77 54.11 37.54 50.72
Inventory Days 104.02 95.43 61.21 41.25 52.07 65.03 55.59 75.13 84.57 78.19 69.03
Payable days 99.7 29.41 39.01 43.1 49.76 54.52 39.52 34.9 55.48 36.66 14.72
PER(x) 0 0 0 0 9.54 18.42 10.73 9.71 10.69 15.55 20.05
Price/Book(x) 0 0 0 0 1.45 1.16 1.05 1.1 1.45 4.32 7.58
Dividend Yield(%) 0 0 0 0 0.98 1.16 0.89 0.76 0.51 0.12 0.09
EV/Net Sales(x) 0.93 0.45 0.43 0.6 1.78 1.44 1.28 1.4 1.54 2.12 2.84
EV/Core EBITDA(x) 3.5 2.51 2.12 3.18 5.71 6.32 5 5.24 6.86 9.75 12.98
Net Sales Growth(%) -1.5 29.3 5.83 3.91 26.24 10.15 29.07 12.76 41.91 164.65 99.81
EBIT Growth(%) 44.81 -14.61 5.52 -4.32 109.92 -32.07 55.22 26.6 31.98 174.02 117.09
PAT Growth(%) -0.1 0.59 12.29 127.89 27.39 -56.4 123.55 29.78 36.42 181.69 117.82
EPS Growth(%) -0.1 -38.57 12.27 88.4 27.39 -56.4 123.55 29.78 36.42 181.7 117.82
Debt/Equity(x) 1.4 0.22 0.19 0.27 0.43 0.44 0.23 0.31 0.47 0.8 0.98
Current Ratio(x) 1.38 1.61 1.71 3.82 1.64 1.41 2.19 2.62 1.5 1.51 1.58
Quick Ratio(x) 0.38 0.6 1.14 2.79 0.96 0.88 1.37 1.42 0.72 0.66 0.9
Interest Cover(x) 2.1 2.61 2.81 3.1 3.59 2.4 5.35 8 8.52 11.77 11.72
Total Debt/Mcap(x) 0 0 0 0 0.3 0.38 0.21 0.28 0.32 0.18 0.13

MP Bharat Agro Prod Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 74.74 74.53 74.53 74.42 74.31 74.28 74.26 74.26 74.54 74.52
FII 0 0 0 0.01 0.01 0 0 0 0 0
DII 0 0 0 0 0 0 0 0 0 0
Public 25.26 25.47 25.47 25.56 25.68 25.72 25.74 25.74 25.46 25.48
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company has delivered good profit growth of 90% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 31%
  • Debtor days have improved from 36.66 to 14.72days.

Cons

  • Stock is trading at 5.6 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

MP Bharat Agro Prod News

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