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Madhya Bharat Agro Products share price & results

Madhya Bharat Agro Products Limited· Chemicals· Commodities

Results to
Jun 2026
Latest analysed call
Q1 FY27
Ownership as of
Sept 2026

India's 3rd-largest private phosphatic fertiliser maker; makes SSP, NPK/DAP under Annadata, Bharat brands.

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Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue416 ₹ crore+1.5% YoYQuarterly, as filedQuarter to Jun 2026Revenue from operations as filed.
Operating margin16.0 %+2.0 pts YoYOperating profit / revenueQuarter to Jun 2026For the quarter; a change is in percentage points.
Net profit33.0 ₹ crore+17.9% YoYQuarterly, as filedQuarter to Jun 2026Profit after tax as filed.
Return on equity32.49 %+16.1 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Adjusted profit attributable to owners ÷ average owners’ equity.
Free cash flow margin-28.08 %−26.9 ptsFY Mar 2026 vs FY Mar 2025Fiscal yearFY ending Mar 2026(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)47.60 %+46.6 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Revenue change against the same period one year earlier.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Jun 2026

Guidance

What management said, and what became of it

2 of 8 judged targets kept · 8 open · verdicts reflect calls analysed to Q1 FY27.

Madhya Bharat Agro Products Limited management guidance track record on Inve: 16 targets tracked across analysed earnings calls (2 achieved, 6 missed, 8 open).

TargetOriginal wordingSaidLatest callVerdict
Sagar Plant CommissioningThe plant is expected to be commissioned by March 2026.
Call transcript, Q2 FY26 · 9 Oct 2025		Q2 FY26Q1 FY27:No new update. Promise previously achieved.
Call transcript, Q1 FY27 · 20 Jul 2026		Achieved
Effective Tax Rate~35% for FY26-28
Call transcript, Q1 FY26 · 16 Jul 2025		Q1 FY26Q1 FY27:No update provided on the effective tax rate.
Call transcript, Q1 FY27 · 20 Jul 2026		Ghosted
Total Revenue by FY28Almost ₹4,000 crores by FY28
Call transcript, Q4 FY26 · 20 Apr 2026		Q4 FY26Q1 FY27:Management did not correct an analyst's reference to a lower ₹3,500 crore target, instead stating confidence in outperforming 'the revenue guidance we have provided', creating ambiguity around the original ₹4,000 crore goal.
Call transcript, Q1 FY27 · 20 Jul 2026		At Risk

Source: Inve Guidance Tracker for Madhya Bharat Agro Products Limited · to Q1 FY27

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

6 of Madhya Bharat Agro Products Limited's 16 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 13 more targets are in the full ledger.

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Price

₹167.26 +4.50% · +₹7.2

Last close 27 Oct 2026 · NSE · INR · Source: Inve

Performance −59.1% 1Y

₹100₹200₹300₹400₹500₹600Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Oct 26Q3 FY26 — 12 Jan 2026Q4 FY26 — 20 Apr 2026Q1 FY27 — 20 Jul 2026

1Y: ₹408.45 on 24 Oct 2025 → ₹167.26. High ₹576.7 (7 May 2026), low ₹110.09 (23 Jun 2026).

Previous close
₹160.06
Market cap
₹7.3k Cr
52-week range
₹110.09 – ₹576.7
One year
−59.27%
Price to earnings (TTM to Jun 2026)
47.38×
Return on equity (TTM to Jun 2026)
32.49%

Overview

Symbol
NSE:MBAPL
Sector
Chemicals
Industry
Commodities
Exchange
NSE
Currency
INR

What Madhya Bharat Agro Products Limited does

Based on the company's own presentations, annual report and earnings calls.

Madhya Bharat Agro Products Limited (MBAPL), a unit of the Ostwal Group of Industries, manufactures and markets phosphatic fertilisers - Single Super Phosphate (SSP) under the 'Annadata' brand and NPK/DAP complex fertilisers under the 'Bharat' brand - for Indian farmers. It is backward-integrated into beneficiated rock phosphate (BRP), sulphuric acid and phosphoric acid, which are used captively as raw materials for its own fertiliser production. The company operates manufacturing units in Sagar (Madhya Pradesh) and Dhule (Maharashtra), and sells through a wholesaler-dealer-retailer network spread across multiple Indian states.

Segments

  • Fertilisers (SSP, NPK/DAP)
  • Chemicals/Intermediates (BRP, Sulphuric Acid, Phosphoric Acid)
Manufacturing units
2 (Sagar, Madhya Pradesh; Dhule, Maharashtra)
Installed fertiliser capacity
~16 lakh MTPA (post-expansion, including 6.6 lakh MTPA in progress)
States covered
11 (targeting 15 post-expansion)
Wholesalers/dealers
3,000+
Retailers
40,000+
Marketing professionals
170+
Founded 1997Headquarters Bhilwara, Rajasthan Company website

How the price took the results

close before → close after

Q1 FY27
+6.9%
20 Jul
Q4 FY26
+2.1%
20 Apr
Q3 FY26
+0.8%
12 Jan

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

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