Bharat Rasayan share price & results
- Jun 2026
- Sept 2026
Agrochemical maker producing crop-protection actives and formulations from plants in Haryana and Gujarat.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 338 | −10.3% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 15.0 | −3.0 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 37.0 | −7.5% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
| Return on equity | 12.14 | +0.4 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | 4.68 | −6.9 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | -5.21 | −6.3 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Price
Performance −92.0% 1Y
1Y: ₹11,768 on 24 Oct 2025 → ₹936. High ₹11,768 (24 Oct 2025), low ₹933.3 (26 Oct 2026).
- Previous close
- ₹933.3
- Market cap
- ₹1.6k Cr
- 52-week range
- ₹933.3 – ₹11,117
- One year
- −91.42%
- Price to earnings (TTM to Jun 2026)
- 10.63×
- Return on equity (TTM to Jun 2026)
- 12.14%
Overview
- Symbol
- NSE:BHARATRAS
- Sector
- Chemicals
- Industry
- Commodities
- Exchange
- NSE
- Currency
- INR
What Bharat Rasayan Limited does
Based on the company's own presentations, annual report and earnings calls.
Bharat Rasayan Limited manufactures agrochemical (crop-protection) products for the Indian agriculture sector. It operates manufacturing units at Mokhra in Rohtak district, Haryana and at Dahej in Bharuch district, Gujarat, with a third unit under construction at Dahej (Gujarat). The company is part of the promoter-led Bharat Group and earns revenue by manufacturing and selling crop-protection products, including transactions with affiliated agrochemical companies such as B R Agrotech Limited and Bharat Certis Agriscience Limited.
- Manufacturing units (operational)
- 2 — Mokhra, Haryana and Dahej, Gujarat
- Manufacturing units under construction
- 1 — Dahej-3, Gujarat
- Manufacturing states
- Haryana and Gujarat
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
What the filings say
Net profit, year on year: −7% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 328 | 256 | 307 | 377 | 286 | 270 | 308 | 338 |
| Expenses | 281 | 215 | 270 | 308 | 253 | 228 | 259 | 287 |
| Operating profit | 47 | 42 | 37 | 69 | 33 | 43 | 49 | 51 |
| Operating margin | 14.0% | 16.0% | 12.0% | 18.0% | 12.0% | 16.0% | 16.0% | 15.0% |
| Other income | 7 | 18 | 6 | -8 | 11 | 17 | 10 | 6 |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 6 | 7 | 7 | 6 | 6 | 7 | 7 | 7 |
| Profit before tax | 46 | 52 | 35 | 54 | 36 | 52 | 51 | 49 |
| Tax rate | 30.0% | 21.0% | 27.0% | 26.0% | 23.0% | 23.0% | 26.0% | 24.0% |
| Net profit | 32 | 41 | 25 | 40 | 28 | 40 | 38 | 37 |
| EPS (₹ per share) | 19.36 | 24.42 | 15.14 | 23.89 | 16.80 | 24.08 | 22.95 | 22.40 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 1,234 | 1,045 | 1,173 | 1,241 |
| Expenses | 1,036 | 931 | 1,010 | 1,048 |
| Operating profit | 199 | 114 | 164 | 194 |
| Other income | 14 | 39 | 53 | 30 |
| Interest | 6 | 3 | 4 | 4 |
| Depreciation | 26 | 25 | 26 | 26 |
| Profit before tax | 180 | 124 | 186 | 193 |
| Net profit | 132 | 95 | 141 | 146 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 4 | 4 | 4 | 4 | 4 | 8 |
| Reserves | 766 | 889 | 984 | 1,126 | 1,172 | 1,266 |
| Borrowings | 174 | 28 | 80 | 85 | 90 | 1 |
| Other liabilities | 142 | 152 | 129 | 193 | 168 | 157 |
| Total liabilities | 1,086 | 1,074 | 1,197 | 1,408 | 1,435 | 1,433 |
| Fixed assets | 228 | 225 | 230 | 230 | 223 | 246 |
| Capital work in progress | 11 | 11 | 6 | 15 | 25 | 46 |
| Investments | 43 | 67 | 143 | 298 | 276 | 324 |
| Other assets | 803 | 771 | 818 | 865 | 910 | 816 |
| Total assets | 1,086 | 1,074 | 1,197 | 1,408 | 1,435 | 1,433 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 170 | -65 | 213 | 41 | 172 | 132 |
| Cash from investing | -149 | 64 | -43 | -76 | -148 | -75 |
| Cash from financing | -40 | -25 | -152 | 49 | -1 | -89 |
| Net cash flow | -19 | -26 | 18 | 14 | 23 | -33 |
| Free cash flow | 160 | -121 | 191 | 14 | 137 | 59 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 99 | 130 | 96 | 138 | 131 | 113 |
| Inventory days | 90 | 120 | 141 | 135 | 136 | 150 |
| Days payable | 33 | 30 | 33 | 37 | 67 | 44 |
| Cash conversion cycle | 156 | 221 | 204 | 236 | 200 | 219 |
| Working capital days | 114 | 136 | 165 | 199 | 170 | 192 |
| Return on capital employed | 31.0% | 28.0% | 20.0% | 12.0% | 16.0% | 16.0% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 1.0% | 0.0% | 1.0% |
What the price assumes
FairTo justify its price of ₹936, this stock must grow earnings at 3% every year for 7 years. Our analysis caps realistic growth at ~3%. At that growth it is worth ₹952 — upside of 2%.
- Growth the price implies
- 3.1% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 3.4% a year
- net profit, FY23–FY26
- The gap
- -0.0 pp
- 2% downside if it only repeats history
Ownership
Who owns it
Promoters hold 74.99% as of Sept 2026; institutions cut 0.13 pts since Jun 2026.
- Promoters 74.99%
- Foreign institutions 0.58%
- Domestic institutions 1.70%
- Public 22.72%
Who bought this quarter
since Jun 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- newly disclosed 6.98% held
- +0.39 pp 3.60% held
The same filing shows 4 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Sep 2026 filing
Every holder of Bharat Rasayan Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 23.55% | −0.21 pp | |
| 11.61% | unchanged | |
| 8.40% | unchanged | |
| 6.98% | newly disclosed | |
| 4.76% | unchanged | |
| 4.58% | unchanged | |
| 3.70% | unchanged | |
| 3.60% | +0.39 pp | |
| 2.99% | −6.98 pp | |
| 2.83% | unchanged | |
| 2.60% | −0.10 pp | |
| 1.95% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Your own record
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