Bharat Rasayan Limited (BHARATRAS) AI Stock Analysis

• Market Cap: ₹31.02B
• Dividend Yield: 0.02%
• Average Volume (3M): 149.00
• Price to Earnings (P/E): 23.3
• Beta (1Y): 0.63
• Revenue Growth: 6.39%
• EPS Growth: -15.53%
• Country: IN
• Employees: 816
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Agricultural Inputs
• EPS (TTM): 16.77
• Shares Outstanding: 16,621,073
• 10 Day Avg. Volume: 116
• 30 Day Avg. Volume: 149
• PEG Ratio: 0.32
• Price to Book (P/B): 1.89
• Price to Sales (P/S): 1.82
• P/FCF Ratio: 16.16
• 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: ₹1,969.00 ▼(-10.55% Downside)

Score is driven primarily by strong financial performance (growth, improving profitability, very low leverage, and improved cash flow), but is pulled down by very weak technicals (price below all major moving averages, negative MACD, and extremely oversold RSI/Stoch). Valuation is moderate with a modest dividend yield but a relatively higher P/E.

Positive Factors

Revenue and margin improvement

Sustained top-line growth with concurrently higher gross and net margins indicates the business is capturing more value per unit sold and improving cost control. This combination supports durable profitability and reinvestment capacity over the next several quarters.

Very low leverage and strong equity base

Minimal financial leverage and a high equity ratio provide balance-sheet resilience, reducing refinancing risk and enabling strategic investment or dividend flexibility. Strong ROE shows the company is generating acceptable returns from its equity base.

Robust cash generation

Operating and free cash flow closely tracking profits indicate high quality earnings and internal funding for capex, working capital and shareholder returns. Reliable cash conversion supports long-term financial flexibility and resilience.

Negative Factors

Declining EPS

Negative EPS growth signals pressure on per-share earnings, which may reflect margin compression, one-off impacts, or mix shifts. Persisting EPS decline would weaken long-term earnings power and could constrain reinvestment or dividend growth.

Input-cost sensitivity

Dependence on volatile raw-material and solvent pricing makes margins cyclical and exposed to commodity shocks. Structural input-price risk can erode margins over multiple quarters unless hedging, pass-through, or product mix mitigation is sustained.

Low trading liquidity

Very low average trading volumes suggest limited liquidity, which can hinder large institutional investment and make share transactions more difficult. Over time, low liquidity may raise cost of capital and increase share-price volatility around material corporate events.

Bharat Rasayan Limited Business Overview & Revenue Model

Company Description

Bharat Rasayan Limited manufactures and sells technical grade pesticides, intermediates, and bulk formulations in India. It offers insecticides, herbicides, fungicides, and intermediates. The company also exports its products. Bharat Rasayan Limited was incorporated in 1989 and is headquartered in New Delhi, India.

How the Company Makes Money

Bharat Rasayan Limited generates revenue primarily through the sale of its agrochemical products, which are crucial for pest control and crop protection in the agricultural sector. The company's revenue model is driven by the production and distribution of a wide variety of pesticides and related chemicals that are essential for enhancing crop yields. Key revenue streams include direct sales to farmers, partnerships with agricultural distributors, and collaborations with international agrochemical companies for product development and distribution. Additionally, the company benefits from economies of scale in manufacturing, enabling it to maintain competitive pricing while maximizing profit margins. The growing demand for sustainable agricultural practices and the increasing awareness of crop protection products further contribute to its earnings.

Bharat Rasayan Limited Financial Statement Overview

Summary

Strong fundamentals: revenue grew 12.3% (2024 to 2025), margins improved (net margin up to 12.0%), leverage is very low (debt-to-equity 0.08), and cash generation strengthened (operating cash flow to net income 1.19; free cash flow to net income 0.97).

Income Statement

Bharat Rasayan has shown strong revenue growth, with a 12.3% increase from 2024 to 2025. Gross profit margin has remained robust at 33.8% in 2025. The net profit margin improved significantly to 12.0% in 2025, indicating effective cost management. Both EBIT and EBITDA margins have improved, suggesting enhanced operational efficiency.

Balance Sheet

The company maintains a healthy financial position with a low debt-to-equity ratio of 0.08 in 2025, signaling minimal leverage risk. Return on Equity is strong at 12.5%, reflecting effective use of equity. The equity ratio is impressive at 80.3%, indicating financial stability and a solid asset base.

Cash Flow

Operating cash flow has improved significantly, aligning well with net income, resulting in a healthy operating cash flow to net income ratio of 1.19. Free cash flow saw remarkable growth, indicating strong cash generation capabilities. Free cash flow to net income ratio stands at 0.97, showing effective cash management.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	12.68B	11.73B	10.45B	12.34B	12.95B	10.80B
Gross Profit	4.34B	3.96B	3.24B	3.95B	3.69B	3.30B
EBITDA	2.18B	2.01B	1.38B	2.06B	2.66B	2.45B
Net Income	1.37B	1.41B	955.10M	1.25B	1.76B	1.64B
Balance Sheet
Total Assets	0.00	14.08B	11.97B	10.74B	10.86B	9.08B
Cash, Cash Equivalents and Short-Term Investments	2.86B	2.86B	1.41B	485.96M	66.88M	1.39B
Total Debt	0.00	852.19M	804.74M	279.37M	1.74B	584.46M
Total Liabilities	-11.30B	2.78B	2.10B	1.80B	3.16B	1.81B
Stockholders Equity	11.30B	11.30B	9.88B	8.93B	7.70B	7.27B
Cash Flow
Free Cash Flow	0.00	1.32B	140.26M	1.90B	-1.21B	1.40B
Operating Cash Flow	0.00	1.68B	410.76M	2.13B	-654.55M	1.70B
Investing Cash Flow	0.00	-1.57B	-897.00M	-605.49M	511.36M	-1.53B
Financing Cash Flow	0.00	41.22M	489.57M	-1.52B	-247.85M	-397.29M

Bharat Rasayan Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2201.25
• 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:BHARATRAS, the sentiment is Negative. The current price of 2201.25 is above the 20-day moving average (MA) of 1934.27, below the 50-day MA of 2240.36, and below the 200-day MA of 2478.63, indicating a bearish trend. The MACD of -163.41 indicates Negative momentum. The RSI at 42.90 is Neutral, neither overbought nor oversold. The STOCH value of 40.81 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:BHARATRAS.

Bharat Rasayan Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
INSECTICID	68 Neutral	₹17.19B	11.58	―	0.71%	6.86%	15.64%
RALLIS	63 Neutral	₹53.43B	31.99	―	0.92%	0.91%	18.12%
RCF	62 Neutral	₹75.77B	24.25	―	0.93%	-3.19%	59.25%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
BHARATRAS	61 Neutral	₹31.02B	23.29	―	0.02%	6.39%	-15.53%
NFL	45 Neutral	₹40.59B	38.53	―	1.77%	-7.78%	-70.89%
NACLIND	44 Neutral	₹33.92B	-71.15	―	―	-13.44%	-127.95%

Bharat Rasayan Limited Corporate Events

Bharat Rasayan’s Credit Ratings Reaffirmed by CARE

Bharat Rasayan Limited, a company involved in the chemical industry, has received a reaffirmation of its credit ratings from CARE Ratings Limited. The long-term bank facilities have been rated CARE AA- (AA Minus), and the short-term bank facilities have been rated CARE A1+ (A One Plus). This reaffirmation indicates a stable credit outlook for the company, which could positively impact its financial operations and reassure stakeholders about its creditworthiness.

Bharat Rasayan Limited Holds EGM with Voting on Special Resolutions

Bharat Rasayan Limited held an Extraordinary General Meeting (EGM) on November 19, 2025, where the proceedings were overseen by Chairman and Managing Director Shri Sat Narain Gupta. The meeting included a quorum, and shareholders were informed about remote e-voting provisions and the option to vote in person at the EGM. The results of the voting on two special business resolutions will be announced and submitted to the stock exchange within two days of the meeting’s conclusion.