Bharat Rasayan

₹9555.2 -41.3 | 0.4%

WEBSITE BSE:590021 NSE : BHARAT RA(PS 23 Mar, 16:01

Market Cap ₹3969 Cr.

Stock P/E 25.0

P/B 4.6

Current Price ₹9555.2

Book Value ₹ 2085.2

Face Value 10

52W High ₹14400

Dividend Yield 0.02%

52W Low ₹ 8299

Edit Ratio

Bharat Rasayan Research see more...

How will Bharat Rasayan Limited achieve next leg of growth?

Overview Inc. Year: 1989Industry: Pesticides & Agrochemicals

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 Fenpyroximate, and Intermediates, which consist of Meta Phenoxy Benzaldehyde and Para Chloro Benzyl Cyanide. The Company's plants are positioned at Rohtak, Haryana and Bharuch, Gujarat. The Company's plant at Haryana, has a ability of 5,000 metric tons (MT)/annum and additionally facilities for bulk packaging of formulations.

Quarterly Price

Quarterly Monthly

Show Value Show %

Peer Comparison

Bharat Rasayan Quarterly Results

#(Fig in Cr.)	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022
Net Sales	318	222	270	252	269	335	445	327	292	309
Other Income	2	0	3	3	3	3	7	8	4	6
Total Income	321	222	273	255	272	338	452	335	296	315
Total Expenditure	261	171	204	194	229	265	358	274	256	257
Operating Profit	60	51	69	61	43	73	94	61	40	59
Interest	1	-1	2	1	1	2	3	2	1	2
Depreciation	7	7	7	6	6	7	7	6	7	7
Exceptional Income / Expenses	-4	0	-0	-0	-0	-3	-1	-1	-1	-1
Profit Before Tax	48	45	61	54	36	61	83	52	31	49
Provision for Tax	13	10	14	14	9	16	19	13	8	13
Profit After Tax	35	35	47	40	27	46	65	39	23	37
Adjustments	-0	-0	-0	-0	-0	0	0	-1	-0	-3
Profit After Adjustments	35	35	47	39	26	46	65	38	23	34
Adjusted Earnings Per Share	83	82.7	110.1	95	63.7	110.4	155.4	90.6	55.2	81.3

Bharat Rasayan Profit & Loss

#(Fig in Cr.)	Mar 2019	Mar 2020	Mar 2021	Mar 2022	TTM
Net Sales	992	1215	1092	1301	1373
Other Income	3	17	7	16	25
Total Income	995	1232	1099	1317	1398
Total Expenditure	805	985	852	1046	1145
Operating Profit	190	247	247	271	254
Interest	16	16	4	7	8
Depreciation	17	22	26	25	27
Exceptional Income / Expenses	-2	-3	-1	-4	-4
Profit Before Tax	155	205	216	235	215
Provision for Tax	44	48	51	58	53
Profit After Tax	112	158	164	177	164
Adjustments	0	0	-1	-1	-4
Profit After Adjustments	112	158	164	176	160
Adjusted Earnings Per Share	262.5	371	385.7	423.5	382.5

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	19%	9%	0%	0%
Operating Profit CAGR	10%	13%	0%	0%
PAT CAGR	8%	16%	0%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-24%	25%	17%	55%
ROE Average	24%	27%	27%	27%
ROCE Average	28%	31%	30%	30%

Bharat Rasayan Balance Sheet

#(Fig in Cr.)	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Shareholder's Funds	409	564	727	770
Minority's Interest	0	0	0	0
Borrowings	40	22	0	1
Other Non-Current Liabilities	14	12	10	10
Total Current Liabilities	293	153	170	309
Total Liabilities	756	752	908	1090
Fixed Assets	150	203	191	228
Other Non-Current Assets	42	30	67	61
Total Current Assets	564	519	650	801
Total Assets	756	752	908	1090

Bharat Rasayan Cash Flow

#(Fig in Cr.)	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Opening Cash & Cash Equivalents	1	6	46	27
Cash Flow from Operating Activities	-52	263	170	-65
Cash Flow from Investing Activities	-48	-68	-153	51
Cash Flow from Financing Activities	102	-169	-40	-25
Net Cash Inflow / Outflow	3	25	-22	-39
Closing Cash & Cash Equivalent	6	46	27	0

Bharat Rasayan Ratios

#	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Earnings Per Share (Rs)	262.49	371.04	385.7	423.53
CEPS(Rs)	302.25	422.68	447.73	486.31
DPS(Rs)	1.5	1.5	1.5	1.5
Book NAV/Share(Rs)	962.19	1327.74	1711.78	1853.14
Core EBITDA Margin(%)	18.9	18.93	22	19.63
EBIT Margin(%)	17.28	18.24	20.18	18.61
Pre Tax Margin(%)	15.64	16.89	19.78	18.05
PAT Margin (%)	11.24	12.97	15.06	13.61
Cash Profit Margin (%)	12.94	14.78	17.42	15.53
ROA(%)	14.76	20.91	19.82	17.73
ROE(%)	27.28	32.41	25.47	23.66
ROCE(%)	26.14	33.74	30.53	28.01
Receivable days	102.67	79.56	91.28	106.5
Inventory Days	77.34	55.66	54.96	62.52
Payable days	23.79	18.23	26.8	28.02
PER(x)	15.93	14.04	24.39	28.76
Price/Book(x)	4.35	3.92	5.49	6.57
Dividend Yield(%)	0.04	0.03	0.02	0.01
EV/Net Sales(x)	2.03	1.86	3.68	4.02
EV/Core EBITDA(x)	10.6	9.14	16.26	19.29
Net Sales Growth(%)	0	22.46	-10.15	19.16
EBIT Growth(%)	0	29.27	-0.58	9.9
PAT Growth(%)	0	41.35	4.33	7.7
EPS Growth(%)	0	41.35	3.95	9.81
Debt/Equity(x)	0.6	0.17	0.08	0.23
Current Ratio(x)	1.92	3.38	3.82	2.59
Quick Ratio(x)	1.21	2.33	2.83	1.7
Interest Cover(x)	10.51	13.48	49.91	32.97
Total Debt/Mcap(x)	0.14	0.04	0.01	0.03

Bharat Rasayan Shareholding Pattern

#	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022
Promoter	74.83	74.83	74.83	75.05	75.05	75.05	74.99	74.99	74.99	74.99
FII	0.3	0.25	0.06	0	0.27	0.25	0.26	0.32	0.53	0.39
DII	0.64	0.96	0.02	1.72	1.85	2.03	2.58	2.57	2.57	2.6
Public	24.24	23.97	25.09	23.23	22.84	22.67	22.18	22.11	21.91	22.02
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022
Promoter	0.32	0.32	0.32	0.31	0.31	0.31	0.31	0.31	0.31	0.31
FII	0	0	0	0	0	0	0	0	0	0
DII	0	0	0	0.01	0.01	0.01	0.01	0.01	0.01	0.01
Public	0.1	0.1	0.11	0.1	0.09	0.09	0.09	0.09	0.09	0.09
Others	0	0	0	0	0	0	0	0	0	0
Total	0.42	0.42	0.42	0.42	0.42	0.42	0.42	0.42	0.42	0.42