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Last Updated: April 2, 2026, 2:42 am
Author: Getaka|Social: XLinkedIn

Bharat Rasayan Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹1,093.12Overvalued by 16.30%vs CMP ₹1,306.00

P/E (15.3) × ROE (12.4%) × BV (₹720.00) × DY (0.03%)

₹1,001.51Overvalued by 23.31%vs CMP ₹1,306.00
MoS: -30.4% (Negative)Confidence: 63/100 (Moderate)Models: 1 Under, 8 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹1,033.0422%Over (-20.9%)
Graham NumberEarnings₹1,137.7816%Over (-12.9%)
Earnings PowerEarnings₹561.6313%Over (-57%)
DCFCash Flow₹734.8813%Over (-43.7%)
Net Asset ValueAssets₹720.077%Over (-44.9%)
EV/EBITDAEnterprise₹1,161.029%Over (-11.1%)
Earnings YieldEarnings₹799.107%Over (-38.8%)
ROCE CapitalReturns₹1,931.679%Under (+47.9%)
Revenue MultipleRevenue₹1,056.655%Over (-19.1%)
Consensus (9 models)₹1,001.51100%Overvalued

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -5.5%

*Investments are subject to market risks

Investment Snapshot

54
Bharat Rasayan Ltd scores 54/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health77/100 · Strong
ROCE 15.5% GoodROE 12.4% GoodD/E 0.08 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
FII holding stable No changePromoter holding at 75.0% StableShareholders up 39% Retail surge
Earnings Quality30/100 · Weak
OPM contracting (17% → 13%) DecliningWorking capital: 170 days Capital intensive
Quarterly Momentum50/100 · Moderate
Revenue (4Q): +6% YoY GrowingProfit (4Q): -15% YoY Declining
Industry Rank55/100 · Moderate
P/E 15.3 vs industry 25.3 Cheaper than peersROCE 15.5% vs industry 15.2% Average3Y sales CAGR: -3% Shrinking

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:42 am

Market Cap 2,171 Cr.
Current Price 1,306
Intrinsic Value₹1,001.51
High / Low 3,030/1,202
Stock P/E15.3
Book Value 720
Dividend Yield0.03 %
ROCE15.5 %
ROE12.4 %
Face Value 5.00
PEG Ratio-2.78

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Bharat Rasayan Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Bharat Rasayan Ltd 2,171 Cr. 1,306 3,030/1,20215.3 7200.03 %15.5 %12.4 % 5.00
Bhagiradha Chemicals & Industries Ltd 2,535 Cr. 196 331/170105 54.90.08 %7.44 %4.91 % 1.00
Insecticides India Ltd 1,696 Cr. 583 1,098/51912.5 4110.34 %17.2 %13.3 % 10.0
NACL Industries Ltd 3,081 Cr. 132 311/113 19.00.00 %7.80 %25.8 % 1.00
Astec Lifesciences Ltd 1,243 Cr. 558 991/512 1860.00 %12.9 %45.3 % 10.0
Industry Average9,472.25 Cr1,009.7725.27369.000.53%15.21%19.87%6.67

All Competitor Stocks of Bharat Rasayan Ltd

Quarterly Result

MetricSep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales 292309306239263233310282328256307377286
Expenses 256260249234250207240244281215270308253
Operating Profit 3649566132669384742376933
OPM % 12%16%18%2%5%11%22%14%14%16%12%18%12%
Other Income 36-394422227186-811
Interest 1210111111111
Depreciation 7766676667766
Profit before tax 3146468102284534652355436
Tax % 26%27%34%8%39%29%20%19%30%21%27%26%23%
Net Profit 233430761567433241254028
EPS in Rs 13.8120.3418.224.273.619.2240.4325.9819.3624.4215.1423.8916.80

Last Updated: January 2, 2026, 6:03 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 23, 2026, 2:46 pm

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 9891,2131,0911,3011,2341,0441,1711,240
Expenses 8029838521,0501,0439269961,058
Operating Profit 188230240250191118175182
OPM % 19%19%22%19%15%11%15%15%
Other Income 11461615354226
Interest 1616476355
Depreciation 1722262526262727
Profit before tax 155205215234174123185176
Tax % 28%23%24%25%28%23%24%
Net Profit 11215816417612596141133
EPS in Rs 65.6092.7396.39106.0175.0757.5484.8979.91
Dividend Payout % 1%0%0%0%0%1%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)41.07%3.80%7.32%-28.98%-23.20%46.88%
Change in YoY Net Profit Growth (%)0.00%-37.27%3.52%-36.29%5.78%70.08%

Bharat Rasayan Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 6 years from 2019-2020 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:%
5 Years:-1%
3 Years:-3%
TTM:17%
Compounded Profit Growth
10 Years:%
5 Years:-4%
3 Years:-9%
TTM:12%
Stock Price CAGR
10 Years:27%
5 Years:2%
3 Years:-7%
1 Year:-20%
Return on Equity
10 Years:%
5 Years:16%
3 Years:12%
Last Year:12%

Last Updated: September 5, 2025, 12:55 am

Balance Sheet

Last Updated: December 4, 2025, 1:03 am

MonthMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 44444444
Reserves 4055607237668899841,1261,193
Borrowings 247945817428808590
Other Liabilities 10094122142152129193168
Total Liabilities 7567529081,0861,0741,1971,4081,456
Fixed Assets 150203191228225230230223
CWIP 351818111161525
Investments 091504367143298298
Other Assets 570522549803771818865910
Total Assets 7567529081,0861,0741,1971,4081,456

Reserves and Borrowings Chart

Cash Flow

MonthMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -52263170-6521341172
Cash from Investing Activity + -46-53-14964-43-76-148
Cash from Financing Activity + 102-169-40-25-15249-1
Net Cash Flow 440-19-26181423
Free Cash Flow -100204160-12119114137
CFO/OP -5%137%92%-3%138%59%120%

Free Cash Flow

MonthMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-59.00136.00182.0076.00163.0038.0090.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 103759913096138131
Inventory Days 1127090120141135136
Days Payable 24173330333767
Cash Conversion Cycle 191128156221204236200
Working Capital Days 9694114136165199170
ROCE %34%31%28%20%12%16%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 74.99%74.99%74.99%74.99%74.99%74.99%74.99%74.99%74.99%74.99%74.99%74.99%
FIIs 0.34%0.35%0.35%0.34%0.34%0.35%0.46%0.45%0.49%0.56%0.47%0.43%
DIIs 2.57%2.57%2.57%2.57%2.57%2.59%2.64%2.60%2.75%2.74%2.75%2.52%
Public 22.10%22.09%22.09%22.09%22.09%22.07%21.90%21.96%21.77%21.71%21.79%22.05%
No. of Shareholders 17,23416,36116,05915,39814,66715,15615,88915,85715,03615,66815,38821,333

Shareholding Pattern Chart

No. of Shareholders

Bharat Rasayan Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
PGIM India Midcap Fund 255,856 0.44 47.7663,9642026-01-26 02:05:38300%
PGIM India Small Cap Fund 103,912 1.3 19.425,9782026-01-26 02:05:38300%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 339.14229.86299.89423.52385.70
Diluted EPS (Rs.) 339.14229.86299.89423.52385.70
Cash EPS (Rs.) 366.03258.47377.50486.31447.73
Book Value[Excl.RevalReserv]/Share (Rs.) 2719.482377.472149.861853.141711.78
Book Value[Incl.RevalReserv]/Share (Rs.) 2719.482377.472149.861853.141711.78
Revenue From Operations / Share (Rs.) 2822.982514.022970.603131.392570.20
PBDIT / Share (Rs.) 483.48332.50521.37651.03580.53
PBIT / Share (Rs.) 418.53270.43458.73591.01519.90
PBT / Share (Rs.) 407.18263.32433.75565.14508.26
Net Profit / Share (Rs.) 301.08196.40314.86426.29387.10
NP After MI And SOA / Share (Rs.) 339.15229.86299.89423.53385.70
PBDIT Margin (%) 17.1213.2217.5520.7922.58
PBIT Margin (%) 14.8210.7515.4418.8720.22
PBT Margin (%) 14.4210.4714.6018.0419.77
Net Profit Margin (%) 10.667.8110.5913.6115.06
NP After MI And SOA Margin (%) 12.019.1410.0913.5215.00
Return on Networth / Equity (%) 12.479.6613.9422.8522.53
Return on Capital Employeed (%) 15.1511.2321.1031.4329.94
Return On Assets (%) 10.007.9711.6016.1418.04
Total Debt / Equity (X) 0.070.080.030.220.08
Asset Turnover Ratio (%) 0.900.911.141.301.32
Current Ratio (X) 4.194.604.642.593.82
Quick Ratio (X) 3.083.252.741.702.83
Inventory Turnover Ratio (X) 4.212.302.854.164.04
Dividend Payout Ratio (NP) (%) 0.440.650.500.000.38
Dividend Payout Ratio (CP) (%) 0.370.510.410.000.33
Earning Retention Ratio (%) 99.5699.3599.500.0099.62
Cash Earning Retention Ratio (%) 99.6399.4999.590.0099.67
Interest Coverage Ratio (X) 42.6046.7337.3139.6867.02
Interest Coverage Ratio (Post Tax) (X) 27.5328.6024.3227.5646.03
Enterprise Value (Cr.) 4407.243562.693772.425228.044021.85
EV / Net Operating Revenue (X) 3.763.413.064.023.68
EV / EBITDA (X) 21.9425.7917.4119.3316.31
MarketCap / Net Operating Revenue (X) 3.733.383.063.893.66
Retention Ratios (%) 99.5599.3499.490.0099.61
Price / BV (X) 3.873.574.236.575.49
Price / Net Operating Revenue (X) 3.733.383.063.893.66
EarningsYield 0.030.020.030.030.04

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Bharat Rasayan Ltd. is a Public Limited Listed company incorporated on 15/05/1989 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L24119DL1989PLC036264 and registration number is 036264. Currently Company is involved in the business activities of Manufacture of insecticides, rodenticides, fungicides, herbicides. Company's Total Operating Revenue is Rs. 1173.00 Cr. and Equity Capital is Rs. 4.16 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Agro Chemicals/Pesticides1501, Vikram Tower, New Delhi Delhi 110008Contact not found
Management
NamePosition Held
Mr. Sat Narain GuptaChairman & Managing Director
Mr. Mahabir Prasad GuptaWhole Time Director
Mr. Rajender Prasad GuptaWholeTime Director & CEO
Mr. Ajay GuptaExecutive Director
Mr. Kamleshwar Prasad UniyalExecutive Director
Mr. Suresh Kumar GargInd. Non-Executive Director
Mr. Ankit AggarwalInd. Non-Executive Director
Ms. Mukta GuptaInd. Non-Executive Director
Mr. Rajesh GuptaInd. Non-Executive Director
Mr. Naman JainInd. Non-Executive Director
Mr. Upendra SinghInd. Non-Executive Director

FAQ

What is the intrinsic value of Bharat Rasayan Ltd and is it undervalued?

As of 11 April 2026, Bharat Rasayan Ltd's intrinsic value is ₹1001.51, which is 23.31% lower than the current market price of ₹1,306.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (12.4 %), book value (₹720), dividend yield (0.03 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Bharat Rasayan Ltd?

Bharat Rasayan Ltd is trading at ₹1,306.00 as of 11 April 2026, with a FY2026-2027 high of ₹3,030 and low of ₹1,202. The stock is currently near its 52-week low. Market cap stands at ₹2,171 Cr..

How does Bharat Rasayan Ltd's P/E ratio compare to its industry?

Bharat Rasayan Ltd has a P/E ratio of 15.3, which is below the industry average of 25.27. This is broadly in line with or below the industry average.

Is Bharat Rasayan Ltd financially healthy?

Key indicators for Bharat Rasayan Ltd: ROCE of 15.5 % indicates efficient capital utilization. Dividend yield is 0.03 %.

Is Bharat Rasayan Ltd profitable and how is the profit trend?

Bharat Rasayan Ltd reported a net profit of ₹141 Cr in Mar 2025 on revenue of ₹1,171 Cr. Compared to ₹176 Cr in Mar 2022, the net profit shows a declining trend.

Does Bharat Rasayan Ltd pay dividends?

Bharat Rasayan Ltd has a dividend yield of 0.03 % at the current price of ₹1,306.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Bharat Rasayan Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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