Annual reportSep 2026
Sep 2026 · Outcome of AGM 24 Sep - 37th AGM held on 24 September 2026; annual report adopted, 0.50 dividend recommended, and key resolutions placed.
Source: Bse
Bharat Rasayan Limited (BHARATRAS)
Small CapIndustrials stocks · Small cap · NSE
Bharat Rasayan Limited operates in Agrochemicals, within the Industrials sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
₹975.5
-23.00 · -2.30%
Market cap ₹1,634 Cr
Data qualityFresh enough for analysisQuote updated 21 Oct, 03:31 pm ISTDetails
Quote21 Oct, 03:31 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result31 Aug, 01:23 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Industrials P/E 26.2 (n=537)
Technical timing lens
Trend score and candlestick chart
35Bearishfull bear SMA stack · SMA20 -15.1% / mo · RSI oversold · MACD + · near 52W low
Stock trend: 28
Sector RS: 46
Sector 3M: -7.1% vs Nifty 500 -5.6%
Industrials FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
BHARATRASD candles · FIT view-30.0%Latest close ₹975.50 on 2026-10-21
Bar
-3.3%
RSI
29
MACD hist
7.34
52W pos
1%
2026-10-21O ₹1009.00H ₹1009.00L ₹972.00C ₹975.50Vol 12,086 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
BHARATRASNifty India ManufacturingNifty 500
- BHARATRAS
- -26.2%
- Nifty 500
- -6.5%
- Nifty India Manufacturing
- -7.7%
- Vs Nifty 500
- -19.7 pp
Chart stats
21 Oct 2026- From 52W high
- -67.3%
- 52W range position
- 1%
- ATR (14)
- 3.5%
- Volume vs 20D
- 0.63x
- Avg traded value
- ₹1.8 Cr
- 20D price channel
- ₹958 - ₹1,147.9
₹2,987.5
₹958 - ₹2,987.5
₹34.1
Latest completed session
20-session average
28.2% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is weak.
Suggested next step
Check latest quarters
Result consistency is weak; verify whether the thesis is improving or deteriorating.
U-Score
Legacy · FAIR VALUE54
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad0
Revenue -10.3% · PAT -7.5% YoY
Technical
Bearish35
Price trend and sector-relative-strength timing.
Valuation
Legacy model-79.2%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence74
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Bad · 0/100Rev -10% YoY · PAT -8% YoY · margin compression · +10% QoQ
Filed 31 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹338 Cr | -10.3% | +9.7% |
| EBITDA | ₹51 Cr | -26.1% | +4.1% |
| Operating margin | 15.0% | -300 bps | -100 bps |
| PAT | ₹37 Cr | -7.5% | -2.6% |
| PAT margin | 10.9% | +34 bps | -139 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 11.20
- P/B
- 1.28
- EV/EBITDA
- 8.05
- Market Cap
- 1634.00Cr
Profitability
- ROE
- 12.20%
- ROCE
- 16.00%
- ROA
- 9.98%
- Dividend Y
- 0.05%
Growth (CAGR)
- Revenue 5Y
- 3.00%
- EPS 5Y
- -2.00%
- Revenue 3Y
- 4.84%
- EPS 3Y
- 5.00%
Balance Sheet
- Debt/Equity
- 0.00
- Interest Coverage
- 44.00×
- Altman Z
- 8.80
- Book Value
- 767.00
Cash Flow
- FCF Yield
- 3.49%
- FCF Positive Y
- 5/5
- OCF
- 132.00 Cr
- EPS TTM
- 86.23
Shareholding
- Promoter Hold
- 74.99%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 1%
Financial History
Updated 21/10/2026
Revenue
₹ CrLatest: 338+9.7% vs prev
Net Profit
₹ CrLatest: 37.0-2.6% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 29. Wait for confirmation.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~17.8% over last month) — short-term momentum negative.
- RSI(14) at 29 — oversold zone; bounce conditions.
- MACD above signal, histogram expanding — bullish momentum building.
- Within 5% of 52-week low — testing support.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
4
RS percentile
Stage 4 Downtrend
1M return
-12.0%
3M return
-26.2%
6M return
-32.3%
1Y return
-64.2%
RS 1D
0
RS 20D
-1
Sector rank
#2
Industry rank
#54
Stage evidence
- Price is 25.4% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -3.8%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
leading
Industry
weakening
Relative-strength line vs Nifty 500 (base 100)
262 observations
21 Oct 2026Value 41-1.39%
RS vs Nifty 50041
Valuation & peers
U-Score 54 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 54 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Financial Turnaround
Fundamental score breakdown
U band · FAIR VALUEValuation18/30
Growth3/25
Quality6/20
Balance Sheet13/15
Cash Flow8/10
Piotroski
8/9 (+5)
Penalties
1
Raw sum
54
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
54/100 · legacy band FAIR VALUE
Positive drivers
- FCF yield is supportive at 3.5%.
- Piotroski is strong at 8/9.
- Balance sheet contributes 13/15 to the score.
Main drags
- Fair-value margin of safety is negative at -79.2%.
- Growth is weaker at 3/25; verify the latest quarterly trend.
- Quality is weaker at 6/20; verify the latest quarterly trend.
Sector valuation model
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
Primary lens
Mid-cycle PE/EV/EBITDA using multi-year average margins or earnings.
Secondary checks
Current margin versus 5-year average, balance sheet strength, commodity cycle.
Main risk check
A low trailing PE may mean peak-cycle earnings, not true cheapness.
PE
11.2
PB
1.3
EV/EBITDA
8.1
ROE
12.2%
ROCE
16.0%
FCF Yield
3.5%
Debt/Equity
0.0
MoS
-79.2%
Cyclical/value-trap warning
This sector can look cheap when profits are temporarily high. Check mid-cycle margins/earnings before relying on trailing PE.
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
54
Previous: 53 (+1)
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
-79.2%
Previous: -83.5%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
54
54
54
54
53
53
53
53
53
53
53
53
Factor attribution
Valuation
18+1
was 17
Modelled fair value
Graham Number
₹1,219.88
+20.0% MoS
Growth-justified P/E
6.3
Growth-justified Value
₹544.11
-79.2% MoS
PEG
—
Comparable companies
Peers
Business-comparable peers in Industrials — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
INSECTICID
Small
Insecticides (India) Limited
Agrochemicals
match 164
55
13.4
12.0%
+7%
FAIR VALUE
IPL
Small
India Pesticides Limited
Agrochemicals
match 163
46
13.8
12.5%
-110%
FAIR VALUE
EXCELINDUS
Small
Excel Industries Limited
Agrochemicals
match 160
46
16.1
4.6%
-80%
FAIR VALUE
GSPCROP
Small
GSP Crop Science Limited
Agrochemicals
match 160
46
20.3
16.5%
+1%
FAIR VALUE
ASTEC
Small
Astec LifeSciences Limited
Agrochemicals
match 160
8
—
-25.2%
—
OVERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
Bharat Rasayan Limited operates in Agrochemicals, within the Industrials sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
74Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 75th percentile of the scored universe and 73rd percentile within Industrials. Main check: results consistency is weak at 41/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
0 docs text-extracted · 0 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
75th percentile
overall median 67 · Industrials: 73rd pctile, median 68 · Small: 77th pctile, median 66
Evidence depth
Financial-only
0 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
96
strong · leverage and solvency
Discipline
60
acceptable · capital discipline
Results
41
weak · quarterly consistency
Trust positives
- ▸Promoter holding is 75%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 2.9%.
- ▸5 years of positive FCF.
Trust risks
- ▸1/4 latest quarters had positive YoY PAT growth.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Bharat Rasayan Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Credit rating
Credit-rating report · Bharat Rasayan Limited has informed the Exchange about Credit Rating
Source: Nse
Annual report
Annual report · Bharat Rasayan Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 19, 2025
Source: Nse
Annual reportMar 2025
Mar 2025 · Annual Report 2025
Source: Nse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.