Bhagiradha Chemicals & Industries Limited (BHAGCHEM)

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Bhagiradha Chemicals & Industries Limited (BHAGCHEM) · mywealthgrid

About

Bhagiradha Chemicals operates in pesticides and agrochemicals within the materials sector. With a market cap of ₹3,759.35 crore, it is a mid-sized player, generating quarterly revenues in the range of ₹113–195 crore. Recent quarters show operating margins averaging 10.66%, though with notable quarterly variation.

Face value: ₹1

Market cap

₹3,063 Cr

P/E

111.3×

P/B

4.4×

Dividend yield

0.1%

ROE

2.6%

ROCE

4.8%

Debt / equity

0.33

OPM

10.7%

EPS (TTM)

₹2.1

Book value

₹53.8

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Valuation is severely elevated at PE 136.6; verify if the growth trajectory justifies this multiple or if disconnect exists
ROE of 2.63% reflects very weak capital efficiency; investigate whether recent revenue growth translates to sustained profitability improvement
Operating margins swing from 9.39% to 15.65% across quarters, indicating either seasonal volatility, product-mix sensitivity, or cost-control challenges—identify sources of variance
Minimal institutional interest (FII 0.1%, DII 3%) limits analyst coverage; negative annual return of -2.11% despite recent quarter strength raises questions about investor confidence

Generated analysis · source review pending

Growth drivers

Jun 2026 revenue of ₹195.02 Cr marks the highest quarterly result in trailing data; verify whether this reflects sustained acceleration or seasonal strength
Operating margin of 15.65% reached in Jun 2026 suggests expansion potential if cost discipline persists across cycles
Consistent dividend payments over multiple years evidence confident cash generation, provided growth capex needs do not strain it
Stock split in May 2024 may signal capital restructuring; verify if accompanied by operational or governance changes

Generated analysis · source review pending

1,222 historical price candles were omitted because the exchange source has not been verified.

₹236.2-1.7%1Y

Quick read

rule-based

Pros

No positive flags triggered.

Cons

−Low return on equity of 3.4% (3-yr avg)
−Profit declined 4.9% a year over the last 5 years
−Expensive at 111.3× trailing earnings
−Low promoter holding of 19.6%

Research score

Structured signal from quality, growth, valuation and momentum.

31/100

Business quality: 22
Growth: 52
Valuation: 17

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	318	436	502	408	440	536
COGS	201	277	313	247	278	335
Gross profit	117	159	189	161	162	201
	70	91	111	118	125	144
	47	68	77	43	37	57
OPM %	14.8%	15.7%	15.4%	10.5%	8.4%	10.7%
Depreciation	8	9	10	11	14	21
Interest	8	9	5	8	7	17
	2	1	1	3	9	2
Profit before tax	32	51	64	27	25	21
Tax	9	16	19	9	11	3
Tax %	27.4%	30.3%	29.2%	32.3%	45.1%	13.9%
	23	36	45	18	14	18
PAT margin %	7.3%	8.2%	9%	4.5%	3.2%	3.4%
EPS (₹)	28.1	43	44.4	1.8	1.1	1.4
EPS adjusted (₹)	2.8	4.3	4.3	1.8	1.1	1.4
	0%	7%	9%	5.7%	13.2%	10.7%
Annual report	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	8	8	10	10	13	13
Reserves	147	182	303	403	669	685
Minority interest	0	—	—	—	—	—
	62	81	50	61	84	231
	55	72	84	101	166	191
Total equity & liabilities	273	342	447	576	933	1,120
	152	157	173	214	245	580
CWIP	2	4	27	65	288	94
Investments	0	0	0	38	0	0
	119	181	246	258	400	446
Total assets	273	342	447	576	933	1,120

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	36.8%	36.5%	37.6%	39.5%	36.9%	37.5%
EBITDA margin %	14.8%	15.7%	15.4%	10.5%	8.4%	10.7%
EBIT margin %	12.2%	13.7%	13.4%	7.8%	5.2%	6.8%
PAT margin %	7.3%	8.2%	9%	4.5%	3.2%	3.4%
Working capital
Receivable days	68	81	94	96	144	139
Inventory days	92	90	106	165	170	159
Payable days	84	72	68	97	122	150
NWC days	76	99	132	164	192	148
Leverage
Current ratio	1.2	1.31	2.27	2.23	1.92	1.78
Debt to EBITDA	1.33	1.18	0.65	1.43	2.29	4.04
Debt to equity	0.4	0.42	0.16	0.15	0.12	0.33
Interest coverage	4.8	6.6	13.8	4.5	4.6	2.2
Asset turnover	1.16	1.27	1.12	0.71	0.47	0.48
Return ratios
Return on assets %	8.5%	10.5%	10.1%	3.2%	1.5%	1.6%
Return on capital employed %	22.1%	31.2%	24.8%	8.7%	5.4%	4.8%
Return on equity %	15%	18.8%	14.4%	4.4%	2%	2.6%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	23.52%	23.52%	23.52%	20.27%	20.27%	20.27%	19.74%	19.74%	19.6%	19.6%	19.6%	19.6%
	0.1%	0.17%	0.16%	0.17%	0.15%	0.18%	0.04%	0.05%	0.05%	0.2%	0.14%	0.1%
	0%	0%	0%	3.14%	3.14%	3.08%	2.89%	2.89%	2.89%	2.99%	3.02%	3%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	76.38%	76.31%	76.32%	76.42%	76.44%	76.47%	77.33%	77.32%	77.46%	77.21%	77.24%	77.3%
No. of shareholders	—	—	—	—	—	—	—	—	13,761	13,381	12,815	13,043

Promoter holding down 3.92 percentage points since Sep 2023.

4 deals · 5 Jun 2024 – 25 Jul 2024

Date	Client	Type	Venue	Side	Quantity	Price	Value
25 Jul 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	6,71,791	₹370.41	₹24.88 Cr
25 Jul 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	6,71,791	₹369.87	₹24.85 Cr
5 Jun 2024	SHANTILAL SHAH CHETAN	Bulk	BSE	Sell	43,10,220	₹188.49	₹81.24 Cr
5 Jun 2024	DERIVE TRADING AND RESORTS PRIVATE LIMITED	Bulk	BSE	Buy	43,06,487	₹188.49	₹81.17 Cr

1–4 of 4

1 / 1

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. KISHOR SHAHNon-Executive - Independent Director-Chairperson
Mr. SINGAVARAPU CHANDRASEKHARExecutive Director-MD
Mrs. LALITHA SREE SINGAVARAPUNon-Executive - Non Independent Director
Mr. A Arvind KumarChief Operating Officer & Chief Executive Officer
Mr. KRISHNARAO S V GADEPALLINon-Executive - Independent Director
Ms. GUDIPATI ARUNANon-Executive - Independent Director
Mr. ARVIND KUMAR ANEGONDIExecutive Director-CEO
Mr. SURESH KUMAR SOMANINon-Executive - Non Independent Director
Mr. Ranjit Kumar KilaruChief Financial Officer
Mrs. Sharanya MandalaCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Bhagiradha Chemicals & Industries Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

1 announcementsExport CSV

22 Sept 2026, 10:23 pmCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet PDF

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Ratio	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	36.8%	36.5%	37.6%	39.5%	36.9%	37.5%
EBITDA margin %	14.8%	15.7%	15.4%	10.5%	8.4%	10.7%
EBIT margin %	12.2%	13.7%	13.4%	7.8%	5.2%	6.8%
PAT margin %	7.3%	8.2%	9%	4.5%	3.2%	3.4%
Working capital
Receivable days	68	81	94	96	144	139
Inventory days	92	90	106	165	170	159
Payable days	84	72	68	97	122	150
NWC days	76	99	132	164	192	148
Leverage
Current ratio	1.2	1.31	2.27	2.23	1.92	1.78
Debt to EBITDA	1.33	1.18	0.65	1.43	2.29	4.04
Debt to equity	0.4	0.42	0.16	0.15	0.12	0.33
Interest coverage	4.8	6.6	13.8	4.5	4.6	2.2
Asset turnover	1.16	1.27	1.12	0.71	0.47	0.48
Return ratios
Return on assets %	8.5%	10.5%	10.1%	3.2%	1.5%	1.6%
Return on capital employed %	22.1%	31.2%	24.8%	8.7%	5.4%	4.8%
Return on equity %	15%	18.8%	14.4%	4.4%	2%	2.6%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Upl LimitedUPLUPL	₹43,628 Cr	₹65,674 Cr	₹52,804 Cr	₹9,326 Cr	17.9%	₹2,020 Cr	4.3%	11.2%	6%	135
Sumitomo Chemical India LimitedSUMICHEMSUMICHEM	₹20,842 Cr	₹20,844 Cr	₹3,245 Cr	₹685 Cr	20.7%	₹579 Cr	16.8%	23.1%	17.3%	155
Bayer Cropscience LimitedBAYERCROPBAYERCROP	₹15,958 Cr	—	₹5,472 Cr	₹688 Cr	15.4%	₹568 Cr	12.1%	28.4%	23.7%	300
Sharda Cropchem LimitedSHARDACROPSHARDACROP	₹6,397 Cr	₹6,397 Cr	₹5,357 Cr	₹1,047 Cr	20.4%	₹626 Cr	12.9%	28%	24.2%	125
Dhanuka Agritech LimitedDHANUKADHANUKA	₹4,217 Cr	₹4,259 Cr	₹2,035 Cr	₹417 Cr	20.5%	₹297 Cr	14.6%	28.9%	22.3%	160
Rallis India LimitedRALLISRALLIS	₹3,884 Cr	₹3,942 Cr	₹2,604 Cr	₹274 Cr	10.5%	₹164 Cr	6.3%	13.2%	10%	104
Bhagiradha Chemicals & Industries LimitedBHAGCHEMBHAGCHEM	₹3,063 Cr	₹3,294 Cr	₹607 Cr	₹79 Cr	10.7%	₹28 Cr	3.4%	4.8%	2.6%	148
Nacl Industries LimitedNACLINDNACLIND	₹3,054 Cr	₹3,355 Cr	₹1,519 Cr	₹106 Cr	6.5%	₹12 Cr	0.3%	11.8%	0.8%	105
Gsp Crop Science LimitedGSPCROPGSPCROP	₹2,113 Cr	₹2,373 Cr	₹1,517 Cr	₹185 Cr	12.2%	₹-3 Cr	6.2%	20.7%	-0.4%	121
Bharat Rasayan LimitedBHARATRASBHARATRAS	₹1,658 Cr	₹1,659 Cr	₹1,203 Cr	₹177 Cr	16%	₹140 Cr	11.7%	17.5%	12.1%	219
Insecticides (India) LimitedINSECTICIDINSECTICID	₹1,655 Cr	₹1,799 Cr	₹2,060 Cr	₹210 Cr	10.6%	₹125 Cr	6.5%	17.1%	12.1%	168
Astec Lifesciences LimitedASTECASTEC	₹1,580 Cr	₹2,029 Cr	₹441 Cr	₹6 Cr	-1%	₹-67 Cr	-18.1%	-9.3%	-25.9%	263

Date	Category	Subject	Filing
22 Sept 2026, 10:23 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	4	6	14	34	-53	12
	-21	-16	-60	-121	-200	-160
	15	12	46	88	272	136
Net cash flow	-2	2	1	2	19	-12
Free cash flow	-18	-11	-46	-45	-305	-148
CFO / Operating profit %	7.6%	8.6%	18%	79.9%	-142.9%	21%

Bhagiradha Chemicals & Industries Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Announcements

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Credit ratings

14

1

1

Compounded sales growth

Compounded profit growth

Return on equity

Bhagiradha Chemicals & Industries Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Announcements

Not in the F&O segment

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

No fund holdings on record

Announcements

Annual reports

Credit ratings

Dividends14

Board meetings1

Stock splits1

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

14

1

1