Madhya Bharat Agro Products Ltd: Intrinsic Value & Share Price Analysis

Q: What is the current share price and 52-week range of Madhya Bharat Agro Products Ltd?

Madhya Bharat Agro Products Ltd is trading at 548.00 as of 16 May 2026, with a FY2026-2027 high of 559 and low of 252. The stock is currently near its 52-week high. Market cap stands at 4,805 Cr..

Q: Is Madhya Bharat Agro Products Ltd financially healthy?

Key indicators: ROCE of 19.4 % indicates efficient capital utilization. Dividend yield is 0.09 %.

Q: Is Madhya Bharat Agro Products Ltd profitable and how is the profit trend?

Madhya Bharat Agro Products Ltd reported a net profit of 57 Cr in Mar 2025 on revenue of 1,058 Cr. Compared to 57 Cr in Mar 2022, the net profit shows a mixed trend.

Fair Value

₹506.07Fairly Valued by 7.65%vs CMP ₹548.00

P/E (32.0) × ROE (31.5%) × BV (₹62.70) × DY (0.09%)

₹216.65Overvalued by 60.47%vs CMP ₹548.00

MoS: -152.9% (Negative)Confidence: 63/100 (Moderate)Models: 1 Fair, 8 Over

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹571.43	23%	Fair (+4.3%)
Graham Number	Earnings	₹129.84	16%	Over (-76.3%)
DCF	Cash Flow	₹125.89	14%	Over (-77%)
Net Asset Value	Assets	₹62.73	7%	Over (-88.6%)
EV/EBITDA	Enterprise	₹65.69	9%	Over (-88%)
Dividend Discount	Dividends	₹27.50	9%	Over (-95%)
Earnings Yield	Earnings	₹119.50	7%	Over (-78.2%)
ROCE Capital	Returns	₹220.62	9%	Over (-59.7%)
Revenue Multiple	Revenue	₹120.66	5%	Over (-78%)
Consensus (9 models)		₹216.65	100%	Overvalued

Key Drivers: Wide model spread (₹28–₹571) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 12.9%

*Investments are subject to market risks

Analyst Summary

Madhya Bharat Agro Products Ltd operates in the Fertilisers segment, current market price is ₹548.00, market cap is 4,805 Cr.. At a glance, stock P/E is 32.0, ROE is 31.5 %, ROCE is 19.4 %, book value is 62.7, dividend yield is 0.09 %. The latest intrinsic value estimate is ₹216.65, around 60.5% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹1,058 Cr versus the prior period change of 29.8%, while latest net profit is about ₹57 Cr with a prior-period change of 128.0%. The 52-week range shown on this page is 559/252, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisMadhya Bharat Agro Products Ltd. is a Public Limited Listed company incorporated on 22/10/1997 and has its registered office in the State of Rajasthan, India. Company's Corporate Identification Number…

This summary is generated from the stock page data available for Madhya Bharat Agro Products Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

Madhya Bharat Agro Products Ltd scores 72/100 (Strong)

Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison

Stock Health69/100 · Strong

ROCE 19.4% GoodROE 31.5% ExcellentD/E 0.41 ModerateInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent

Smart Money60/100 · Moderate

FII holding up 0.16% (6mo) Slight increasePromoter holding at 74.8% Stable

Earnings Quality50/100 · Moderate

OPM contracting (22% → 13%) DecliningWorking capital: 51 days (improving) Efficient

Quarterly Momentum90/100 · Strong

Revenue (4Q): +95% YoY AcceleratingProfit (4Q): +136% YoY Strong

Industry Rank100/100 · Strong

P/E 32.0 vs industry 220.5 Cheaper than peersROCE 19.4% vs industry 13.3% Above peersROE 31.5% vs industry 12.0% Above peers3Y sales CAGR: 29% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily.

Share Price and Basic Stock Data

Last Updated: May 5, 2026, 12:33 am

Market Cap	4,805 Cr.
Current Price	548
Intrinsic Value	₹216.65
High / Low	559/252
Stock P/E	32.0
Book Value	62.7
Dividend Yield	0.09 %
ROCE	19.4 %
ROE	31.5 %
Face Value	10.0
PEG Ratio	2.48

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

Stock P/E Current Price Intrinsic Value

View Share Price Target for Madhya Bharat Agro Products Ltd

Competitors

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Madhya Bharat Agro Products Ltd	4,805 Cr.	548	559/252	32.0	62.7	0.09 %	19.4 %	31.5 %	10.0
National Fertilizer Ltd	3,833 Cr.	78.2	112/63.4	19.7	52.3	1.99 %	7.57 %	6.49 %	10.0
Krishana Phoschem Ltd	3,700 Cr.	611	704/292	20.5	92.6	0.08 %	27.2 %	38.2 %	10.0
Mangalore Chemicals & Fertilizers Ltd	3,659 Cr.	309	373/209	22.7	89.8	0.49 %	15.4 %	14.9 %	10.0
Gujarat State Fertilizer & Chemicals Ltd	6,893 Cr.	173	221/139	10.2	309	2.89 %	6.12 %	4.68 %	2.00
Industry Average	10,260.76 Cr	384.13		220.54	187.01	1.03%	13.34%	11.97%	6.96

All Competitor Stocks of Madhya Bharat Agro Products Ltd

Quarterly Result

Metric	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	286	234	149	278	244	146	200	278	284	297	410	450	612
Expenses	224	189	125	238	226	132	167	242	244	261	353	388	546
Operating Profit	62	45	24	40	18	14	34	36	39	36	57	62	66
OPM %	22%	19%	16%	15%	7%	10%	17%	13%	14%	12%	14%	14%	11%
Other Income	4	1	1	1	0	9	2	2	2	6	3	2	3
Interest	4	5	6	8	4	8	9	7	5	7	7	6	9
Depreciation	6	7	7	7	7	7	9	9	9	8	9	9	9
Profit before tax	55	34	12	26	7	8	18	23	27	27	44	49	51
Tax %	30%	29%	42%	42%	80%	82%	36%	39%	34%	47%	36%	37%	37%
Net Profit	39	24	7	15	1	1	11	14	18	14	28	30	32
EPS in Rs	4.42	2.77	0.83	1.70	0.15	0.16	1.31	1.58	2.04	1.63	3.22	3.48	3.62

Last Updated: January 11, 2026, 1:58 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 10:16 pm

Metric	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	59	62	65	82	90	107	129	185	490	981	815	1,058	1,769
Expenses	48	56	52	60	69	78	94	143	384	772	719	912	1,548
Operating Profit	10	6	12	21	21	29	35	42	107	210	96	145	221
OPM %	18%	10%	19%	26%	23%	28%	27%	23%	22%	21%	12%	14%	13%
Other Income	0	6	0	4	0	0	0	0	0	5	11	11	14
Interest	3	3	3	5	5	4	3	4	8	16	26	28	29
Depreciation	2	3	4	7	8	10	10	9	18	22	29	34	36
Profit before tax	5	6	6	13	7	16	21	29	81	176	52	95	170
Tax %	33%	32%	-55%	11%	30%	27%	31%	29%	30%	29%	52%	39%
Net Profit	4	4	9	12	5	11	15	20	57	124	25	57	105
EPS in Rs	0.51	0.56	1.05	1.34	0.58	1.30	1.69	2.31	6.51	14.18	2.83	6.56	11.95
Dividend Payout %	0%	0%	0%	9%	21%	10%	7%	5%	2%	2%	18%	8%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	0.00%	125.00%	33.33%	-58.33%	120.00%	36.36%	33.33%	185.00%	117.54%	-79.84%	128.00%
Change in YoY Net Profit Growth (%)	0.00%	125.00%	-91.67%	-91.67%	178.33%	-83.64%	-3.03%	151.67%	-67.46%	-197.38%	207.84%

Madhya Bharat Agro Products Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	33%
5 Years:	52%
3 Years:	29%
TTM:	46%

Compounded Profit Growth
10 Years:	30%
5 Years:	31%
3 Years:	0%
TTM:	155%

Stock Price CAGR
10 Years:	%
5 Years:	90%
3 Years:	28%
1 Year:	92%

Return on Equity
10 Years:	18%
5 Years:	22%
3 Years:	21%
Last Year:	15%

Last Updated: September 5, 2025, 10:05 am

Balance Sheet

Last Updated: May 1, 2026, 5:00 am

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	18	22	22	22	22	22	22	22	44	88	88	88
Reserves	54	69	80	84	95	108	127	183	285	263	316	462
Borrowings	9	18	34	36	26	40	70	164	323	290	318	856
Other Liabilities	13	4	14	11	16	19	45	70	92	163	223	277
Total Liabilities	94	113	149	153	160	189	264	439	743	804	946	1,682
Fixed Assets	59	88	94	102	93	83	85	153	203	265	279	436
CWIP	6	0	9	9	9	31	75	2	0	14	74	277
Investments	1	1	0	0	0	0	0	0	0	0	0	0
Other Assets	27	24	46	42	58	75	104	283	540	525	592	968
Total Assets	94	113	149	153	160	189	264	439	743	804	946	1,682

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity +	6	11	8	19	15	14	30	-72	-70	148	96	-127
Cash from Investing Activity +	-3	-27	-17	-16	-1	-22	-56	-13	-65	-92	-92	-373
Cash from Financing Activity +	-3	16	8	-3	-14	9	25	85	141	-61	-4	501
Net Cash Flow	-1	0	-0	-0	0	1	-1	-0	6	-6	0	-0
Free Cash Flow	3	-16	-14	3	14	-8	-26	-85	-140	43	-12	-524
CFO/OP	104%	101%	48%	104%	62%	54%	83%	-54%	-19%	163%	77%	-43%

Free Cash Flow

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Free Cash Flow	10.00	-3.00	-6.00	-13.00	-15.00	3.00	-5.00	-28.00	-57.00	-113.00	-194.00	-173.00

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

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	6	33	40	57	48	76	79	54	55	74	83	88
Inventory Days	124	74	58	204	130	159	210	214	200	125	136	85
Days Payable	24	59	17	80	47	39	37	88	46	8	40	48
Cash Conversion Cycle	106	48	80	180	131	195	252	181	210	191	178	125
Working Capital Days	34	65	87	74	45	103	123	67	65	61	54	51
ROCE %	13%	12%	9%	15%	9%	14%	16%	17%	30%	38%	12%	18%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Promoters	74.28%	74.26%	74.26%	74.54%	74.52%	74.43%	74.51%	74.56%	74.56%	74.56%	74.63%	74.76%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.03%	0.11%	0.43%	0.19%
Public	25.72%	25.74%	25.74%	25.46%	25.48%	25.57%	25.49%	25.44%	25.41%	25.34%	24.95%	25.06%
No. of Shareholders	8,908	8,706	8,836	10,227	10,121	10,111	10,433	9,718	8,966	11,822	12,546	13,348

Shareholding Pattern Chart

No. of Shareholders

Madhya Bharat Agro Products Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	6.56	2.84	28.35	26.03	9.24
Diluted EPS (Rs.)	6.56	2.84	28.35	26.03	9.24
Cash EPS (Rs.)	10.44	6.15	33.45	34.30	13.52
Book Value[Excl.RevalReserv]/Share (Rs.)	46.09	40.05	74.95	93.72	68.18
Book Value[Incl.RevalReserv]/Share (Rs.)	46.09	40.05	74.95	93.72	68.18
Dividend / Share (Rs.)	0.50	0.50	0.50	0.50	0.50
Revenue From Operations / Share (Rs.)	120.87	93.23	224.14	224.35	84.77
PBDIT / Share (Rs.)	17.88	12.27	49.07	48.77	19.06
PBIT / Share (Rs.)	14.00	8.96	43.96	40.50	14.78
PBT / Share (Rs.)	10.80	5.96	40.21	37.06	13.04
Net Profit / Share (Rs.)	6.56	2.84	28.35	26.03	9.24
PBDIT Margin (%)	14.79	13.16	21.89	21.73	22.48
PBIT Margin (%)	11.58	9.61	19.61	18.05	17.43
PBT Margin (%)	8.93	6.39	17.93	16.51	15.38
Net Profit Margin (%)	5.42	3.04	12.64	11.60	10.89
Return on Networth / Equity (%)	14.23	7.07	37.82	27.77	13.55
Return on Capital Employeed (%)	20.63	17.32	45.31	35.05	16.51
Return On Assets (%)	6.07	3.08	16.71	12.98	7.65
Long Term Debt / Equity (X)	0.21	0.08	0.12	0.15	0.27
Total Debt / Equity (X)	0.78	0.82	0.98	0.79	0.41
Asset Turnover Ratio (%)	1.21	1.06	1.66	1.40	0.81
Current Ratio (X)	1.45	1.38	1.58	1.51	1.50
Quick Ratio (X)	0.97	0.78	0.90	0.66	0.72
Inventory Turnover Ratio (X)	5.66	3.88	3.51	3.26	2.18
Dividend Payout Ratio (NP) (%)	7.62	8.81	0.88	1.92	5.41
Dividend Payout Ratio (CP) (%)	4.79	4.06	0.74	1.45	3.69
Earning Retention Ratio (%)	92.38	91.19	99.12	98.08	94.59
Cash Earning Retention Ratio (%)	95.21	95.94	99.26	98.55	96.31
Interest Coverage Ratio (X)	5.58	4.10	13.08	14.17	10.98
Interest Coverage Ratio (Post Tax) (X)	3.05	1.95	8.56	8.56	6.32
Enterprise Value (Cr.)	2767.42	2391.74	2791.41	1042.21	278.16
EV / Net Operating Revenue (X)	2.61	2.93	2.84	2.12	1.50
EV / EBITDA (X)	17.66	22.24	12.98	9.75	6.66
MarketCap / Net Operating Revenue (X)	2.32	2.59	2.54	1.80	1.17
Retention Ratios (%)	92.37	91.18	99.11	98.07	94.58
Price / BV (X)	6.09	6.02	7.58	4.32	1.45
Price / Net Operating Revenue (X)	2.32	2.59	2.54	1.80	1.17
EarningsYield	0.02	0.01	0.04	0.06	0.09

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Madhya Bharat Agro Products Ltd. is a Public Limited Listed company incorporated on 22/10/1997 and has its registered office in the State of Rajasthan, India. Company's Corporate Identification Number(CIN) is L24121RJ1997PLC029126 and registration number is 029126. Currently Company is involved in the business activities of Manufacture of straight mixed, compound or complex inorganic fertilizers. Company's Total Operating Revenue is Rs. 1866.98 Cr. and Equity Capital is Rs. 87.63 Cr. for the Year ended 31/03/2026.

INDUSTRY	ADDRESS	CONTACT
Fertilisers	Wing A/1, 1st Floor, Bhilwara Rajasthan 311802	Contact not found

Management
Name	Position Held
Mr. Mahendra Kumar Ostwal	Chairman & Non-Exe.Director
Mr. Pankaj Ostwal	Managing Director
Mr. Sourabh Gupta	WholeTime Director & CFO
Mrs. Shruti Babel	Independent Director
Mr. Paras Mal Surana	Independent Director
Mr. Gopal Inani	Independent Director
Mr. Bheru Lal Ostwal	Independent Director
Mr. Praveen Ostwal	Promoter Director

FAQ

What is the intrinsic value of Madhya Bharat Agro Products Ltd and is it undervalued?

As of 16 May 2026, Madhya Bharat Agro Products Ltd's intrinsic value is ₹216.65, which is 60.47% lower than the current market price of ₹548.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (31.5 %), book value (₹62.7), dividend yield (0.09 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Madhya Bharat Agro Products Ltd?

Madhya Bharat Agro Products Ltd is trading at ₹548.00 as of 16 May 2026, with a FY2026-2027 high of ₹559 and low of ₹252. The stock is currently near its 52-week high. Market cap stands at ₹4,805 Cr..

How does Madhya Bharat Agro Products Ltd's P/E ratio compare to its industry?

Madhya Bharat Agro Products Ltd has a P/E ratio of 32.0, which is below the industry average of 220.54. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Madhya Bharat Agro Products Ltd financially healthy?

Key indicators for Madhya Bharat Agro Products Ltd: ROCE of 19.4 % indicates efficient capital utilization; ROE of 31.5 % shows strong shareholder returns. Dividend yield is 0.09 %.

Is Madhya Bharat Agro Products Ltd profitable and how is the profit trend?

Madhya Bharat Agro Products Ltd reported a net profit of ₹57 Cr in Mar 2025 on revenue of ₹1,058 Cr. Compared to ₹57 Cr in Mar 2022, the net profit shows a mixed trend.

Does Madhya Bharat Agro Products Ltd pay dividends?

Madhya Bharat Agro Products Ltd has a dividend yield of 0.09 % at the current price of ₹548.00. The company pays dividends, though the yield is modest.