Bhageria Industries Ltd. (BHAGERIA) AI Stock Analysis

• Market Cap: ₹7.43B
• Dividend Yield: 0.81%
• Average Volume (3M): 12.94K
• Price to Earnings (P/E): 14.6
• Beta (1Y): 1.73
• Revenue Growth: 33.39%
• EPS Growth: 85.08%
• Country: IN
• Employees: 384
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Chemicals - Specialty
• EPS (TTM): 2.56
• Shares Outstanding: 43,644,180
• 10 Day Avg. Volume: 13,323
• 30 Day Avg. Volume: 12,939
• PEG Ratio: 0.15
• Price to Book (P/B): 1.20
• Price to Sales (P/S): 1.13
• P/FCF Ratio: 27.11
• 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: 63 Neutral
• Price Target: ₹178.00 ▼(-0.59% Downside)

Bhageria Industries' strong financial performance, characterized by revenue growth and a solid balance sheet, is the primary driver of its stock score. However, technical indicators suggest a bearish trend, and the valuation indicates moderate pricing with a low dividend yield. The absence of earnings call and corporate events data limits further insights.

Positive Factors

Revenue Growth

Sustained ~20% top-line growth across fiscal years indicates durable demand for Bhageria's chemical intermediates and expanding market penetration. Over 2-6 months this supports stable order flow, better capacity utilization and potential scale benefits that underpin longer-term margin recovery and reinvestment capacity.

Balance Sheet Strength

Very low leverage and high equity financing provide financial flexibility to fund capex, absorb cyclical downturns, and pursue strategic investments (e.g., capacity or renewables) without overreliance on debt. This durable capital structure reduces refinancing risk and interest burden over the medium term.

Improved Cash Conversion

Conversion of earnings into cash above parity indicates stronger operating cash generation and liquidity. Positive free cash flow enables sustainable reinvestment, working capital support and optional shareholder returns, enhancing resilience to industry cyclicality over the next several quarters.

Negative Factors

Operational Efficiency Risks

Indications of margin pressure or operational inefficiency create risk that revenue gains won’t fully translate into durable profit improvement. Over months this can compress cash available for reinvestment and leave the firm exposed to input-cost swings unless productivity or product-mix improvements are sustained.

End‑market Cyclicality

Heavy exposure to dye/pigment and industrial end-market demand and raw-material cost volatility makes earnings sensitive to textile and industrial cycles. Structural swings in downstream demand or commoditization can materially depress volumes and margins across multiple quarters.

Free Cash Flow Volatility

Historic swings in free cash flow reduce predictability of capital allocation and raise the chance of working-capital driven funding needs. Even with current positive FCF, recurring volatility can limit consistent reinvestment or dividend policies and increase reliance on external financing in stress periods.

Bhageria Industries Ltd. Business Overview & Revenue Model

Company Description

Bhageria Industries Limited manufactures and sells dyes, dye intermediates, and basic chemicals in India. The company is also engaged in the generation and distribution of solar power, and EPC contracts. It exports its products to South Korea, Japan, Taiwan, China, Germany, the United States, and other European and African countries. The company was formerly known as Bhageria Dye Chem Limited and changed its name to Bhageria Industries Limited in August 2015. Bhageria Industries Limited was incorporated in 1989 and is based in Mumbai, India.

How the Company Makes Money

Bhageria Industries Ltd. generates revenue through the production and sale of a diverse range of specialty chemicals and intermediates. The company has multiple key revenue streams, including the sale of reactive dyes used in textiles, pigments for various applications, and chemical intermediates that serve as raw materials for other industries. Furthermore, BHAGERIA benefits from strategic partnerships and collaborations with global companies, enhancing its market reach and enabling it to tap into new customer segments. The company's emphasis on research and development allows it to innovate and introduce new products, thus driving sales and profitability.

Bhageria Industries Ltd. Financial Statement Overview

Summary

Bhageria Industries demonstrates strong revenue growth and improved profitability with a solid balance sheet characterized by low leverage. The company shows effective cash flow management, although historical fluctuations in free cash flow and a decline in EBITDA margin indicate some operational efficiency challenges.

Income Statement

Bhageria Industries demonstrated strong revenue growth of 20.8% from 2024 to 2025, alongside an impressive improvement in net profit margin to 6.8% in 2025 from 3.9% in 2024. The Gross Profit Margin also increased to 40.8% in 2025. However, the EBITDA margin declined from 12.1% in 2024 to 13.7% in 2025, indicating a decrease in operational efficiency.

Balance Sheet

The company's balance sheet is robust with a low Debt-to-Equity Ratio of 0.08 in 2025, reflecting conservative leverage. The Return on Equity improved to 7.2% from 3.6% the previous year, indicating better utilization of equity. The Equity Ratio remained strong at 76.2%, suggesting a solid capital structure with high equity financing.

Cash Flow

Bhageria Industries showed a significant improvement in free cash flow from a negative position in 2024 to a positive one in 2025. The Operating Cash Flow to Net Income Ratio is 1.29, indicating strong cash conversion. However, the company has experienced fluctuations in free cash flow historically, which poses potential risks.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	6.40B	5.95B	4.92B	5.01B	5.97B	4.01B
Gross Profit	2.40B	2.43B	1.51B	1.49B	1.62B	1.43B
EBITDA	951.29M	814.21M	597.37M	578.78M	1.26B	1.08B
Net Income	457.26M	404.04M	190.65M	147.45M	705.97M	626.62M
Balance Sheet
Total Assets	0.00	7.33B	6.76B	6.31B	6.46B	5.75B
Cash, Cash Equivalents and Short-Term Investments	742.48M	947.29M	857.93M	431.12M	504.77M	496.75M
Total Debt	0.00	463.06M	472.09M	380.69M	347.86M	314.31M
Total Liabilities	-5.56B	1.77B	1.53B	1.25B	1.39B	1.23B
Stockholders Equity	5.56B	5.58B	5.22B	5.06B	5.07B	4.52B
Cash Flow
Free Cash Flow	0.00	248.05M	-36.93M	139.10M	174.93M	183.37M
Operating Cash Flow	0.00	521.28M	229.24M	276.13M	756.16M	579.75M
Investing Cash Flow	0.00	-463.56M	-330.95M	-231.04M	-580.38M	-442.60M
Financing Cash Flow	0.00	-89.67M	48.28M	-155.94M	-137.97M	-34.73M

Bhageria Industries Ltd. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 179.05
• 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:BHAGERIA, the sentiment is Neutral. The current price of 179.05 is above the 20-day moving average (MA) of 168.00, above the 50-day MA of 175.55, and below the 200-day MA of 184.24, indicating a neutral trend. The MACD of -1.84 indicates Negative momentum. The RSI at 48.71 is Neutral, neither overbought nor oversold. The STOCH value of 52.15 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:BHAGERIA.

Bhageria Industries Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SHREEPUSHK	68 Neutral	₹11.31B	15.99	―	0.52%	28.67%	50.12%
TNPETRO	66 Neutral	₹8.59B	7.36	―	1.14%	8.27%	195.27%
AVTNPL	65 Neutral	₹10.40B	17.09	―	1.05%	23.11%	34.46%
BHAGERIA	63 Neutral	₹7.43B	14.57	―	0.81%	33.39%	85.08%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
BODALCHEM	60 Neutral	₹6.51B	18.35	―	―	15.56%	2114.71%
CHEMCON	57 Neutral	₹6.80B	27.33	―	―	2.76%	30.68%

Bhageria Industries Ltd. Corporate Events

Bhageria Industries Clears Q3 FY26 Results, Plans Mineral-Focused Subsidiary and Office Shift

Bhageria Industries Ltd. has approved its unaudited standalone and consolidated financial results for the quarter ended December 31, 2025, along with segment-wise revenue details and the statutory auditors’ limited review reports, with the documents to be made available on stock exchange and company websites and summarized in newspaper notices. The board also granted in-principle approval to set up a wholly owned subsidiary to invest in the mineral business and other opportunities, and agreed to shift the company’s registered office within Mumbai from Goregaon (West) to Malad (West) effective April 1, 2026, signaling both geographic repositioning and strategic diversification that may influence its future growth trajectory and stakeholder outlook.

Bhageria Industries Publishes IEPF Share Transfer Notice in Compliance With Investor Protection Rules

Bhageria Industries Limited has notified the stock exchanges that it has published a newspaper notice regarding the transfer of certain equity shares to the Investor Education and Protection Fund (IEPF), in line with regulatory requirements. The notice, carried in national English daily Business Standard and Marathi daily Mumbai Tarun Bharat on January 3, 2026, reflects the company’s compliance with SEBI’s disclosure norms and the IEPF rules governing unclaimed or unpaid investor holdings, underscoring its adherence to statutory investor protection and corporate governance obligations.

Bhageria Industries Updates Contact Details of Registrar and Transfer Agent

Bhageria Industries Limited has notified the stock exchanges that its Registrar and Transfer Agent (RTA), MUFG Intime India Private Limited, has updated its official contact details for shareholders. The changes cover a new investor helpdesk email address and revised website links for lodging shareholder queries and service requests electronically, which stakeholders are requested to note and update in their records.