Bharat Rasayan Ltd - Stock Valuation and Financial Performance

BSE: 590021 | NSE: BHARATRAS | Pesticides & Agrochemicals | Small Cap

Bharat Rasayan Share Price

8,475 -46.40 -0.54%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Bharat Rasayan

Overall Rating
Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

Bharat Rasayan stock performance -

mw4me loader
P/E Ratio (CD):
60.37
Market Cap:
3,540.9 Cr.
52-wk low:
8,351.1
52-wk high:
10,525

Is Bharat Rasayan Ltd an attractive stock to invest in?

1. Is Bharat Rasayan Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Bharat Rasayan Ltd is a average quality company.

2. Is Bharat Rasayan Ltd undervalued or overvalued?

The key valuation ratios of Bharat Rasayan Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is Bharat Rasayan Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Bharat Rasayan Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Bharat Rasayan:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Bharat Rasayan Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 0%0%0%0%0%18.8%24.5%23%19.9%12.9%-
Value Creation
Index
NANANANANA0.30.80.60.5-0.1-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 000009921,2151,0921,3011,2341,041
Sales YoY Gr.-NANANANANA22.5%-10.2%19.2%-5.1%-
Adj EPS 00000262.6351.9382.6402.1278141.2
YoY Gr.-NANANANANA34%8.7%5.1%-30.9%-
BVPS (₹) 00000962.21,327.71,711.81,853.12,149.92,221.7
Adj Net
Profit
0000011215016316711659
Cash Flow from Ops. 00000-52.3263170-65.5213-
Debt/CF from Ops. 00000-4.70.40.3-2.70.1-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales NANA0.5%-5.1%
Adj EPS NANA-7.6%-30.9%
BVPSNANA17.4%16%
Share Price 37.9% 14.7% -3.2% -8.4%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
0000027.330.725.222.313.96.5
Op. Profit
Mgn %
0000018.918.92219.3169.9
Net Profit
Mgn %
0000011.312.314.912.89.45.6
Debt to
Equity
000000.60.20.10.20-
Working Cap
Days
000000155165185228126
Cash Conv.
Cycle
00000011912514818194

Recent Performance Summary

No data to display

Return on Equity has declined versus last 3 years average to 6.50%

Sales growth has been subdued in last 3 years 0.53%

Net Profit has been subdued in last 3 years -7.56%

Sales growth is not so good in last 4 quarters at -23.19%

Latest Financials - Bharat Rasayan Ltd.

Standalone Consolidated
TTM EPS (₹) 140.3 141.2
TTM Sales (₹ Cr.) 1,041 1,041
BVPS (₹.) 2,229.9 2,221.7
Reserves (₹ Cr.) 922 919
P/BV 3.82 3.84
PE 60.72 60.37
From the Market
52 Week Low / High (₹) 8351.05 / 10525.00
All Time Low / High (₹) 21.50 / 15100.00
Market Cap (₹ Cr.) 3,541
Equity (₹ Cr.) 4.2
Face Value (₹) 10
Industry PE 33.5

Management X-Ray of Bharat Rasayan:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.640.640.640.640.64
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Bharat Rasayan

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23
Sales9921,2151,0921,3011,234
Operating Expenses 8059858521,0491,037
Manufacturing Costs4049567271
Material Costs684839684843839
Employee Cost 4046566567
Other Costs 4150557060
Operating Profit 187230240252198
Operating Profit Margin (%) 18.9%18.9%22.0%19.3%16.0%
Other Income 31771619
Interest 1616476
Depreciation 1722262526
Exceptional Items -2-3-10-5
Profit Before Tax 155205216234174
Tax 4448515849
Profit After Tax 112158164176125
PAT Margin (%) 11.2%13.0%15.1%13.5%10.1%
Adjusted EPS (₹)262.5371.0385.7423.5299.9
Dividend Payout Ratio (%)1%0%0%0%1%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 409564727770893
Share Capital 44444
Reserves 405560723766889
Minority Interest00000
Debt247945817428
Long Term Debt4022010
Short Term Debt207725817328
Trade Payables4539616875
Others Liabilities 5555617880
Total Liabilities 7567529081,0901,076

Fixed Assets

Gross Block276352365427449
Accumulated Depreciation126148174199224
Net Fixed Assets150203191228225
CWIP 3518181111
Investments 091504367
Inventories210160169277323
Trade Receivables279251296464325
Cash Equivalents 95133634
Others Assets7160526092
Total Assets 7567529081,0901,076

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity -52263170-65213
PBT 155205215234174
Adjustment 3121242019
Changes in Working Capital -19589-18-26170
Tax Paid -44-52-51-58-51
Cash Flow From Investing Activity -48-68-15351-61
Capex -48-58-11-55-22
Net Investments 0-9-142106-30
Others 0-101-9
Cash Flow From Financing Activity 102-169-40-25-152
Net Proceeds from Shares 00000
Net Proceeds from Borrowing 00000
Interest Paid -15-15-4-7-6
Dividend Paid -1-1-1-1-1
Others 119-153-35-17-146
Net Cash Flow 325-22-391
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)27.2832.4125.4723.5114.98
ROCE (%)26.1433.7430.5327.8719.31
Asset Turnover Ratio1.311.611.321.31.14
PAT to CFO Conversion(x)-0.461.661.04-0.371.7
Working Capital Days
Receivable Days1038091107117
Inventory Days7756556389
Payable Days2418272831

Bharat Rasayan Ltd Stock News

Bharat Rasayan Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Bharat Rasayan on 28-Mar-2024 16:01 is ₹8,475.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Mar-2024 16:01 the market cap of Bharat Rasayan stood at ₹3,540.9.
The latest P/E ratio of Bharat Rasayan as of 28-Mar-2024 16:01 is 60.72.
The latest P/B ratio of Bharat Rasayan as of 28-Mar-2024 16:01 is 3.82.
The 52-week high of Bharat Rasayan is ₹10,525 and the 52-week low is ₹8,351.1.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Bharat Rasayan is ₹1,041 ( Cr.) .

About Bharat Rasayan Ltd

Bharat Rasayan, part of the Bharat Group of companies, is engaged in manufacturing technical grade pesticides, pesticides formulations and intermediates. It was incorporated on May 15, 1989.

The ISO 9001:2000 certified company manufactures technical grade pesticides like fenevalrate technical, 2,4-D ethyl ester technical and isoproturon technical at its plant in Rohtak, Haryana, with a capacity of more than 2,000 MTPA. It has its own R&D and pilot plant facilities for developing new products. The company has been granted export house status by the Government of India. Its products are exported to 50 countries in Asia, South America, Africa and the European continent including Russia with sales agents in the Middle East, South-East Asia and European countries.

The company has well equipped laboratories with modern and sophisticated instruments such as HPLC, GC, IRUV, Spectrophotometer, Polarimeter and Karl Fischer Titrators, etc. All equipments used in manufacturing, testing and packaging of the materials are regularly maintained and calibrated both at its in-house and by third party laboratories. High quality performance standards are achieved through qualified and experienced staff, modern equipment, documented procedures and an established quality assurance system.

Technical staff who are highly qualified and experienced in chemical research analytical development, safety-health environment, regulatory requirements, engineering and information technology, quality assurance, IPF, etc. They provide a comprehensive and complete technical support. Complementing them qualified and well trained chemists, quality assurance and control personnel.

Milestones:

• Established in the year 1989 as a backward integration project • An ISO 9001:2000 & ISO 14001:2000 Certified Company • Manufacturer of Technical Grade Pesticides / Intermediates confirming to international standards • Plant capacity more than 2000 MT per annum • Formulation facilities available for bulk packing • Government approved well established R&D centre led by a team of highly qualified people • Pilot plant facility to undertake process research on new products • In-house facility for treatment of solid, liquid and gaseous effluent treatment system • Permanent Registration Number with Dun & Bradstreet is 91-846-1229 • Export House status granted by Government of India • A public limited company with more than 30% stake of Indian public • Listed on the National Stock Exchange

Group companies:

• Bharat Insecticides • B R Agrotech â€¢ SIRIS Crop Science.

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