Bhageria Industries Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹1,619 Cr
- P/E
- 21.81
- ROE
- 7.77%
- PEG
- 0.44
- Price to sales
- 1.64
- Debt to equity
- 0.01
- 52W high / low
- ₹406 / ₹129
- Sales growth (5Y)
- 16.90%
- EBITDA margin
- 11.52%
- Net profit margin
- 5.16%
- Promoter holding
- 71.86%
- Sales (last year)
- ₹997 Cr
Incorporated in 1989, Bhageria Industries Ltd is in the business of Chemicals and Solar power generation & distribution[1]
Guidance scorecard · Q2 FY27 call
What Bhageria Industries Ltd's management guided
and where it ranks in Chemicals & Petrochemicals
Chemicals & Petrochemicals
RevenueQ2 FY26 call
20–40%- Bhageria Industries has experienced strong recent growth, with Q2 FY '26 revenue up 55.6% year-on-year and H1 FY '26 revenue up 48% year-on-year.
- Management expects continued revenue growth driven by better volumes rather than price realization.
- Export markets, especially for dye intermediates and specialty chemicals, are showing healthy demand and contributing to growth.
- Capacity utilization is high at 95%-97%, indicating strong ongoing demand.
- The company plans capacity expansions, including a 100 MT CAPEX for H-ACID, which will add about 500 tons/month capacity, with additional expansion requiring Greenfield CAPEX.
- The renewable energy segment and expanding specialty chemicals portfolio are expected to contribute meaningfully.
2 more points from Bhageria Industries Ltd's call on revenue
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MarginsQ2 FY26 call
Up 0–2%See what Bhageria Industries Ltd said on margins — free account, 30 seconds.
CapexQ2 FY26 call
Planned- Bhageria Industries is undertaking a 100 metric ton CAPEX for H-ACID expansion, with a maximum addition of 500 tons per month at the existing location; further sizable capacity additions will require Greenfield CAPEX.
- Planned Greenfield CAPEX for Plasticizer plants is estimated around Rs. 100 crores to add 35,000-36,000 tons annual capacity.
- Rs. 10 crore CAPEX has been incurred for the Plasticizer segment by utilizing existing infrastructure.
- A 32 MW solar power project is underway, with an investment of Rs. 152 crores; expecting an IRR of approximately 16% and annual revenue of Rs. 22 crores from power purchase agreements.
- No new major CAPEX is planned for the pharmaceutical segment; existing CAPEX (~Rs. 30-35 Cr) done for regulatory-compliant GMP plants.
2 more points from Bhageria Industries Ltd's call on capex
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FundraisingQ2 FY26 call
See what Bhageria Industries Ltd said on fundraising — free account, 30 seconds.
Order bookQ2 FY26 call
- Demand across key products is described as "good" and "round the clock," indicating steady orders.
- Export orders remain strong with no slowdown expected for Q3 and Q4 of FY26.
- The company is focusing on export markets, especially Southeast Asia and Europe.
- Utilization of installed capacity is high, at about 95%-97%, reflecting full order execution.
2 more points from Bhageria Industries Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Chemicals & Petrochemicals
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Chemicals & Petrochemicals companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 0–2% | ₹263 Cr | 3.4 | |
| 2 | 40%+ | Flat | ₹4,375 Cr | 83.7 | |
| 3 | 40%+ | Flat | ₹3,259 Cr | 4.0 | |
| 4 | 40%+ | Flat | ₹145 Cr | 15.9 | |
| 5 | 20–40% | Up 2%+ | ₹1.81L Cr | 90.9 | |
| 6 | 20–40% | Up 2%+ | ₹48,366 Cr | 78.3 |
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Pro shows every company guiding 40%+ revenue growth →Full Chemicals & Petrochemicals rankingFinancials of Bhageria Industries Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Bhageria Industries Ltd
Shareholding breakup across reporting periods.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 71.75% | 71.75% | 71.75% | 71.75% | 71.75% | 71.75% | 71.75% | 71.75% | 71.75% | 71.77% | 71.77% | 71.86% |
| FIIs + | 0.00% | 0.01% | 0.00% | 0.21% | 0.00% | 0.02% | 0.02% | 0.13% | 0.94% | 0.44% | 0.05% | 0.47% |
| Public + | 28.25% | 28.23% | 28.25% | 28.05% | 28.25% | 28.23% | 28.23% | 28.12% | 27.32% | 27.80% | 28.18% | 27.68% |
| No. of Shareholders | 14,909 | 16,587 | 16,196 | 16,992 | 16,991 | 16,932 | 16,712 | 17,113 | 19,102 | 18,219 | 17,139 | 16,401 |
Financials of Bhageria Industries Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 103 | 112 | 183 | 113 | 129 | 172 | 184 | 158 | 205 | 242 | 267 | 284 | 453 |
| Expenses + | 94 | 98 | 168 | 101 | 116 | 143 | 153 | 140 | 181 | 222 | 236 | 244 | 371 |
| Operating Profit | 8 | 14 | 15 | 12 | 14 | 28 | 31 | 18 | 24 | 20 | 31 | 40 | 82 |
| OPM % | 8% | 13% | 8% | 10% | 11% | 16% | 17% | 12% | 11% | 8% | 12% | 14% | 18% |
| Other Income + | 4 | 6 | 4 | 5 | 3 | -2 | 1 | 7 | 2 | 3 | -3 | 17 | 5 |
| Interest | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 1 | 1 |
| Depreciation | 8 | 8 | 8 | 7 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 |
| Profit before tax | 4 | 12 | 10 | 8 | 9 | 18 | 23 | 17 | 17 | 15 | 20 | 48 | 79 |
| Tax % | 28% | 28% | 31% | 27% | 23% | 27% | 28% | 27% | 27% | 20% | 28% | 26% | 26% |
| Net Profit + | 3 | 8 | 7 | 6 | 7 | 13 | 17 | 12 | 12 | 12 | 14 | 36 | 58 |
| EPS in Rs | 0.65 | 1.91 | 1.65 | 1.40 | 1.54 | 2.96 | 3.78 | 2.75 | 2.79 | 2.75 | 3.23 | 8.23 | 13.36 |
Financials of Bhageria Industries Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 412 | 238 | 347 | 367 | 462 | 414 | 399 | 596 | 501 | 495 | 597 | 871 | 1,246 |
| Expenses + | 357 | 212 | 285 | 287 | 337 | 316 | 296 | 480 | 447 | 451 | 513 | 778 | 1,072 |
| Operating Profit | 56 | 27 | 62 | 80 | 125 | 98 | 103 | 116 | 55 | 44 | 84 | 93 | 174 |
| OPM % | 14% | 11% | 18% | 22% | 27% | 24% | 26% | 19% | 11% | 9% | 14% | 11% | 14% |
| Other Income + | 3 | 2 | 10 | 12 | 5 | 6 | 4 | 9 | 4 | 16 | 7 | 9 | 23 |
| Interest | 2 | 1 | 2 | 6 | 4 | 2 | 1 | 1 | 3 | 1 | 2 | 2 | 2 |
| Depreciation | 1 | 3 | 6 | 23 | 22 | 23 | 26 | 29 | 34 | 32 | 31 | 32 | 32 |
| Profit before tax | 55 | 24 | 65 | 62 | 104 | 79 | 81 | 95 | 21 | 27 | 58 | 68 | 162 |
| Tax % | 33% | 35% | 33% | 35% | 31% | 16% | 23% | 26% | 27% | 28% | 27% | 26% | |
| Net Profit + | 37 | 15 | 43 | 40 | 72 | 66 | 62 | 70 | 15 | 20 | 42 | 50 | 120 |
| EPS in Rs | 11.51 | 4.82 | 13.62 | 12.65 | 16.40 | 15.08 | 14.31 | 16.15 | 3.45 | 4.50 | 9.69 | 11.53 | 27.57 |
| Dividend Payout % | 11% | 26% | 18% | 22% | 18% | 20% | 24% | 25% | 29% | 22% | 15% | 22% |
Financials of Bhageria Industries Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 8 | 8 | 8 | 8 | 11 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 |
| Reserves | 59 | 70 | 257 | 287 | 331 | 380 | 430 | 485 | 483 | 498 | 535 | 579 | 662 |
| Borrowings + | 17 | 15 | 145 | 84 | 23 | 21 | 27 | 18 | 37 | 38 | 32 | 8 | 30 |
| Other Liabilities + | 40 | 47 | 115 | 116 | 101 | 103 | 91 | 111 | 87 | 116 | 137 | 141 | 209 |
| Total Liabilities | 124 | 139 | 525 | 495 | 467 | 526 | 570 | 636 | 628 | 673 | 727 | 750 | 922 |
| Fixed Assets + | 18 | 23 | 269 | 299 | 287 | 331 | 320 | 394 | 365 | 348 | 348 | 345 | 340 |
| CWIP | -0 | 4 | 18 | 4 | 15 | 18 | 45 | 0 | 8 | 17 | 11 | 17 | 16 |
| Investments | 21 | 33 | 29 | 1 | 10 | 0 | 4 | 8 | 13 | 24 | 23 | 25 | 19 |
| Other Assets + | 85 | 80 | 209 | 190 | 155 | 176 | 201 | 234 | 241 | 284 | 345 | 364 | 548 |
| Total Assets | 124 | 139 | 525 | 495 | 467 | 526 | 570 | 636 | 628 | 673 | 727 | 750 | 922 |
Financials of Bhageria Industries Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 38 | 32 | 56 | 40 | 137 | 59 | 62 | 85 | 13 | 34 | 53 | 102 |
| Cash from Investing Activity + | -31 | -27 | -171 | 31 | -50 | -45 | -44 | -55 | -26 | -32 | -39 | -38 |
| Cash from Financing Activity + | -29 | -11 | 124 | -77 | -88 | -10 | -8 | -26 | -1 | -5 | -16 | -62 |
| Net Cash Flow | -22 | -6 | 10 | -6 | -1 | 3 | 10 | 4 | -15 | -3 | -2 | 3 |
| Free Cash Flow | 26 | 20 | -48 | -35 | 108 | -8 | 23 | 27 | -1 | 8 | 29 | 68 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 101% | 147% | 114% | 66% | 128% | 75% | 81% | 98% | 38% | 102% | 83% | 129% |
Financials of Bhageria Industries Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 39 | 69 | 55 | 87 | 50 | 69 | 84 | 60 | 93 | 115 | 113 | 67 |
| Inventory Days | 37 | 46 | 40 | 52 | 25 | 57 | 63 | 64 | 45 | 48 | 51 | 32 |
| Days Payable | 42 | 81 | 57 | 87 | 53 | 77 | 61 | 58 | 41 | 66 | 71 | 43 |
| Cash Conversion Cycle | 34 | 34 | 38 | 51 | 22 | 49 | 86 | 66 | 96 | 97 | 93 | 56 |
| Working Capital Days | 19 | 29 | -127 | 14 | 21 | 72 | 85 | 70 | 87 | 118 | 100 | 72 |
| ROCE % | 70% | 28% | 24% | 17% | 29% | 20% | 18% | 19% | 4% | 5% | 9% | 11% |
Momentum score · price trend
95 out of 100 — Strengthening
Over the past year its share price has done better than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +70.9% | 90% |
| Last 6 months | +113.9% | 97% |
| Last 3 months | +83.5% | 99% |
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Bhageria Industries Ltd: 0.4 × 90 + 0.4 × 97 + 0.2 × 99 = 95.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Bhageria Industries Ltd's management said in earlier quarters
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