Agro Phos India Ltd. (AGROPHOS) AI Stock Analysis

• Market Cap: ₹640.46M
• Dividend Yield: 2.51%
• Average Volume (3M): 31.46K
• Price to Earnings (P/E): 23.5
• Beta (1Y): 1.00
• Revenue Growth: 69.30%
• EPS Growth: N/A
• Country: IN
• Employees: 154
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Agricultural Inputs
• EPS (TTM): 0.45
• Shares Outstanding: 20,274,115
• 10 Day Avg. Volume: 21,105
• 30 Day Avg. Volume: 31,457
• PEG Ratio: -0.06
• Price to Book (P/B): 0.91
• Price to Sales (P/S): 0.50
• P/FCF Ratio: 250.34
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 61 Neutral
• Price Target: ₹33.00 ▼(-12.84% Downside)
• Action: Reiterated Date: 12/18/25
• Date: Action: Reiterated 12/18/25

Agro Phos India Ltd. has a solid financial performance with strong revenue growth and stable balance sheet metrics. However, cash flow constraints and weak technical indicators suggest caution. The stock appears undervalued with a low P/E ratio and decent dividend yield, providing potential upside for value investors.

Positive Factors

Strong Revenue Growth

A near-200% top-line expansion indicates durable demand traction or successful market expansion. Sustained high revenue growth improves operating leverage potential, supports scale economics and funds strategic investments, increasing the company's runway for longer-term competitive positioning.

Improved Gross Margins

A materially higher gross margin points to better cost management or improved pricing power in the agricultural inputs market. Margin durability helps absorb commodity cost swings, supports reinvestment and cushioning of operating profits, improving long-term cash generation potential.

Balanced Capital Structure

Moderate leverage and a solid equity base indicate financial flexibility and lower solvency risk. This balanced structure reduces refinancing pressure, preserves capacity for targeted M&A or capex, and helps sustain operations through sector cycles while keeping interest costs manageable.

Negative Factors

Weak Operating Cash Conversion

Operating cash converts at a fraction of reported earnings, signaling earnings quality and working-capital sensitivity issues. Poor cash conversion can constrain the company's ability to fund capex, inventories or pay dividends from operations without resorting to external financing.

Constrained Free Cash Flow

Only a third of net income remains as free cash after capex, limiting internal funds for growth or shareholder returns. Over time this constrains reinvestment into product development, distribution or scale initiatives, raising reliance on external capital for sustained expansion.

Low Net Profit Margin

A single-digit net margin implies limited profitability after operating costs and overhead. Even with strong revenues, thin net margins reduce retained earnings and make the business more vulnerable to input-cost inflation or pricing pressure, hindering long-term return improvement.

Agro Phos India Ltd. Business Overview & Revenue Model

Company Description

Agro Phos (India) Limited manufactures and sells fertilizers and agrochemical products in India. The company offers single super phosphate; nitrogen phosphate and potassium; copper, magnesium, zinc, calcium, and ferrous sulphate; and organic manure fertilizers. It also trades in diammoium phosphate, ammonium sulphate, muriate of potash, urea, and other fertilizers. The company was incorporated in 2002 and is headquartered in Indore, India.

How the Company Makes Money

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Agro Phos India Ltd. Financial Statement Overview

Summary

Agro Phos India Ltd. shows strong revenue growth and improved gross margins, indicating effective cost management. The balance sheet is stable with moderate leverage and reasonable returns on equity. However, cash flow metrics highlight potential constraints in cash generation, which could affect future investments and financial flexibility.

Income Statement

Agro Phos India Ltd. has shown significant revenue growth of 188.23% in the latest year, indicating strong top-line expansion. The gross profit margin improved to 32.82%, reflecting better cost management. However, the net profit margin is relatively low at 4.20%, suggesting limited profitability after expenses. The EBIT and EBITDA margins are moderate at 10.79% and 12.41%, respectively, indicating operational efficiency but room for improvement in profitability.

Balance Sheet

The company's debt-to-equity ratio of 0.43 indicates a balanced capital structure with moderate leverage. The return on equity (ROE) is 7.71%, showing a reasonable return on shareholders' investments. The equity ratio stands at 41.41%, suggesting a stable financial position with a good proportion of assets financed by equity.

Cash Flow

The operating cash flow to net income ratio is low at 0.81%, indicating limited cash generation relative to net income. Free cash flow growth is positive, but the free cash flow to net income ratio of 32.81% suggests that cash available after capital expenditures is constrained. This could impact the company's ability to reinvest or distribute dividends.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	1.33B	1.20B	1.07B	1.31B	609.91M	599.80M
Gross Profit	453.14M	393.44M	150.71M	-242.82M	-236.79M	119.90M
EBITDA	201.95M	148.77M	-23.41M	103.54M	97.36M	64.30M
Net Income	112.55M	50.38M	-52.79M	50.04M	58.31M	31.80M
Balance Sheet
Total Assets	1.60B	1.58B	987.44M	1.30B	846.76M	726.80M
Cash, Cash Equivalents and Short-Term Investments	29.31M	11.67M	907.00K	1.35M	11.02M	2.60M
Total Debt	259.16M	281.98M	287.15M	270.48M	127.64M	139.50M
Total Liabilities	905.69M	925.26M	504.85M	781.58M	377.07M	310.20M
Stockholders Equity	698.68M	653.72M	482.59M	520.47M	469.70M	416.60M
Cash Flow
Free Cash Flow	77.21M	2.38M	13.30M	-109.04M	55.12M	61.50M
Operating Cash Flow	78.96M	7.25M	28.18M	-64.84M	138.88M	90.20M
Investing Cash Flow	-16.30M	-1.95M	-15.69M	-66.85M	-96.70M	-27.30M
Financing Cash Flow	-60.45M	-5.17M	-12.94M	122.03M	-33.70M	-61.60M

Agro Phos India Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 37.86
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:AGROPHOS, the sentiment is Negative. The current price of 37.86 is above the 20-day moving average (MA) of 32.68, above the 50-day MA of 35.03, and below the 200-day MA of 38.35, indicating a bearish trend. The MACD of -0.99 indicates Negative momentum. The RSI at 40.42 is Neutral, neither overbought nor oversold. The STOCH value of 30.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:AGROPHOS.

Agro Phos India Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PASUPTAC	74 Outperform	₹3.95B	4.61	―	―	36.99%	10.60%
MANAKSIA	67 Neutral	₹3.28B	7.26	―	―	51.38%	-19.06%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
AGROPHOS	61 Neutral	₹640.46M	23.51	―	2.51%	69.30%	―
RAMAPHO	57 Neutral	₹4.10B	10.12	―	0.46%	22.68%	―
MANORG	54 Neutral	₹3.42B	24.26	―	―	22.53%	237.55%
NAGAFERT	48 Neutral	₹2.34B	-13.60	―	―	-100.00%	-101.18%

Agro Phos India Ltd. Corporate Events

Agro Phos India Adds Independent Director, Moves to Dilute Stake in Associate Company

Agro Phos India Ltd.’s board has appointed Mr. Samir Kumar Biswas as an additional non-executive independent director for a five-year term starting 31 December 2025, subject to shareholder approval. Biswas brings extensive board-level and executive experience across chemical, finance, infrastructure, textile and public policy roles, including work in central and state government and leadership in industry-focused institutions. The board has also given in-principle approval to dilute Agro Phos’s stake in its associate company Shri Tuls i Phosphate Ltd. from 32.45% to below 20%, which will result in Shri Tulsi Phosphate ceasing to be an associate; this move may streamline Agro Phos’s investment portfolio and alter its influence over that business, with implications for how it allocates capital and structures future strategic partnerships.

Agro Phos India Names Former IAS Officer Samir Kumar Biswas as Independent Director

Agro Phos India Limited has appointed retired IAS officer Mr. Samir Kumar Biswas as a Non-Executive Additional Independent Director for a five-year term starting 31 December 2025, subject to shareholder approval, following the recommendation of its Nomination and Remuneration Committee and in line with SEBI listing regulations. Biswas brings extensive board-level and leadership experience in chemical public sector undertakings, finance, infrastructure, textiles and in facilitating growth of the chemicals and petrochemicals industry, a move that is expected to strengthen Agro Phos India’s governance, regulatory alignment and strategic capabilities in its core chemical and fertilizer-related businesses.