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MP Bharat Agro Prod Overview

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 Key Financials

Market Cap ₹4697 Cr.

Stock P/E 81.7

P/B 8.5

Current Price ₹536

Book Value ₹ 62.7

Face Value 10

52W High ₹585

Dividend Yield 0.09%

52W Low ₹ 275.6

MP Bharat Agro Prod Share Price

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MP Bharat Agro Prod Quarterly Price

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MP Bharat Agro Prod Peer Comparison

MP Bharat Agro Prod Quarterly Results

#(Fig in Cr.) Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Net Sales 244 146 200 278 284 297 410 450 612 395
Other Income 0 9 2 2 2 6 3 2 3 9
Total Income 244 154 202 280 285 303 413 452 615 404
Total Expenditure 226 132 167 242 244 261 353 388 546 353
Operating Profit 18 23 35 38 41 42 60 64 69 50
Interest 4 8 9 7 5 7 7 6 9 11
Depreciation 7 7 9 9 9 8 9 9 9 9
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 7 8 18 23 27 27 44 49 51 31
Provision for Tax 5 6 6 9 9 13 16 18 19 -29
Profit After Tax 1 1 11 14 18 14 28 30 32 60
Adjustments 0 0 0 0 -0 -0 0 0 -0 0
Profit After Adjustments 1 1 11 14 18 14 28 30 32 60
Adjusted Earnings Per Share 0.1 0.2 1.3 1.6 2 1.6 3.2 3.5 3.6 6.8

MP Bharat Agro Prod Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 62 65 82 90 116 131 186 491 982 817 1059 1867
Other Income 6 0 4 0 0 0 0 0 5 11 11 17
Total Income 68 65 86 90 116 131 186 492 987 828 1070 1884
Total Expenditure 56 52 60 69 87 96 144 385 772 721 914 1640
Operating Profit 13 12 25 21 30 35 42 107 215 108 157 243
Interest 3 3 5 5 4 3 4 8 16 26 28 33
Depreciation 3 4 7 8 10 10 9 18 22 29 34 36
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 6 6 13 7 16 21 29 81 176 52 95 175
Provision for Tax 2 -3 2 2 4 7 8 24 52 27 37 24
Profit After Tax 4 9 12 5 11 15 20 57 124 25 57 150
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 4 9 12 5 11 15 20 57 124 25 57 150
Adjusted Earnings Per Share 0.6 1.1 1.3 0.6 1.3 1.7 2.3 6.5 14.2 2.8 6.6 17.1

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 30% 29% 52% 33%
Operating Profit CAGR 45% 14% 35% 28%
PAT CAGR 128% 0% 31% 30%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 81% 23% 92% NA%
ROE Average 15% 23% 23% 17%
ROCE Average 18% 23% 23% 19%

MP Bharat Agro Prod Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 72 91 102 106 117 130 149 205 328 351 404
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 3 16 21 19 17 29 41 32 41 30 85
Other Non-Current Liabilities 3 -1 -3 -2 -1 2 5 15 56 73 106
Total Current Liabilities 16 6 26 28 26 28 68 186 317 351 351
Total Liabilities 94 112 146 151 159 189 264 439 743 804 946
Fixed Assets 59 88 94 102 93 83 85 153 203 265 279
Other Non-Current Assets 8 2 10 10 10 34 77 5 39 56 157
Total Current Assets 27 22 42 39 56 72 103 281 501 483 510
Total Assets 94 112 146 151 159 189 264 439 743 804 946

MP Bharat Agro Prod Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 1 1 1 0 0 0 1 0 0 6 0
Cash Flow from Operating Activities 6 11 8 19 15 14 30 -72 -70 148 96
Cash Flow from Investing Activities -3 -27 -17 -16 -1 -22 -56 -13 -65 -92 -92
Cash Flow from Financing Activities -3 16 8 -3 -14 9 25 85 141 -61 -4
Net Cash Inflow / Outflow -1 0 -0 -0 0 1 -1 -0 6 -6 0
Closing Cash & Cash Equivalent 1 1 0 0 0 1 0 0 6 0 0

MP Bharat Agro Prod Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 0.56 1.05 1.34 0.58 1.3 1.69 2.31 6.51 14.17 2.84 6.56
CEPS(Rs) 1.03 1.45 2.15 1.5 2.49 2.88 3.38 8.58 16.73 6.15 10.44
DPS(Rs) 0 0 0.5 0.5 0.5 0.13 0.13 0.13 0.25 0.5 0.5
Book NAV/Share(Rs) 6.49 7.61 8.81 9.28 13.33 14.88 17.05 23.43 37.48 40.05 46.09
Core EBITDA Margin(%) 10.19 18.73 25.94 22.81 25.42 26.53 22.4 21.69 21.36 11.77 13.73
EBIT Margin(%) 14.64 13.47 22.37 13.87 16.7 18.75 17.43 18.05 19.61 9.61 11.59
Pre Tax Margin(%) 9.43 9.12 16.14 8.09 13.57 16.4 15.39 16.52 17.94 6.4 8.93
PAT Margin (%) 6.47 14.17 14.28 5.68 9.85 11.34 10.9 11.6 12.65 3.04 5.43
Cash Profit Margin (%) 11.94 19.61 22.92 14.65 18.8 19.29 15.95 15.29 14.93 6.59 8.64
ROA(%) 4.44 8.96 9.09 3.44 7.39 8.54 8.93 16.21 21.02 3.21 6.57
ROE(%) 8.89 16.2 16.3 6.45 11.54 12.01 14.47 32.15 46.54 7.31 15.23
ROCE(%) 16.7 12.47 18.83 10.96 14.9 15.66 16.61 30.15 37.77 12.16 18.02
Receivable days 19.32 35.64 43.78 49.59 53.46 69.77 54.11 37.54 50.72 85.99 76.17
Inventory Days 61.21 41.25 52.07 65.03 55.59 75.13 84.57 78.19 69.03 94.05 64.45
Payable days 39.01 43.1 49.76 54.52 39.52 34.9 55.48 36.66 14.72 24.9 39.48
PER(x) 0 0 9.54 18.42 10.73 9.71 10.69 15.55 20.05 85.09 42.83
Price/Book(x) 0 0 1.45 1.16 1.05 1.1 1.45 4.32 7.58 6.02 6.1
Dividend Yield(%) 0 0 0.98 1.16 0.89 0.76 0.51 0.12 0.09 0.21 0.18
EV/Net Sales(x) 0.43 0.6 1.78 1.44 1.28 1.4 1.54 2.12 2.84 2.93 2.61
EV/Core EBITDA(x) 2.12 3.18 5.71 6.32 5 5.24 6.86 9.75 12.98 22.24 17.66
Net Sales Growth(%) 5.83 3.91 26.24 10.15 29.07 12.76 41.91 164.65 99.81 -16.81 29.65
EBIT Growth(%) 5.52 -4.32 109.92 -32.07 55.22 26.6 31.98 174.02 117.09 -59.24 56.3
PAT Growth(%) 12.29 127.89 27.39 -56.4 123.55 29.78 36.42 181.69 117.82 -80 131.34
EPS Growth(%) 12.27 88.4 27.39 -56.4 123.55 29.78 36.43 181.7 117.82 -80 131.34
Debt/Equity(x) 0.19 0.27 0.43 0.44 0.23 0.31 0.47 0.8 0.98 0.83 0.79
Current Ratio(x) 1.71 3.82 1.64 1.41 2.19 2.62 1.5 1.51 1.58 1.38 1.45
Quick Ratio(x) 1.14 2.79 0.96 0.88 1.37 1.42 0.72 0.66 0.91 0.79 0.98
Interest Cover(x) 2.81 3.1 3.59 2.4 5.35 8 8.52 11.77 11.72 2.99 4.37
Total Debt/Mcap(x) 0 0 0.3 0.38 0.21 0.28 0.32 0.18 0.13 0.14 0.13

MP Bharat Agro Prod Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 74.54 74.52 74.43 74.53 74.56 74.56 74.56 74.63 74.76 74.76
FII 0 0 0 0 0 0.03 0.11 0.43 0.19 0.46
DII 0 0 0 0 0 0 0 0 0 0
Public 25.46 25.48 25.57 25.47 25.44 25.41 25.34 24.95 25.06 24.78
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

MP Bharat Agro Prod News

MP Bharat Agro Prod Pros & Cons

Pros

  • Company has delivered good profit growth of 30% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 23%

Cons

  • Debtor days have increased from 24.9 to 39.48days.
  • Stock is trading at 8.5 times its book value.
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