Income Statement Bharat Rasayan Limited

Stocks

BHARATRAS

INE838B01021

Agricultural Chemicals

Market Closed - NSE India S.E. Other stock markets 09:05:07 30/07/26 pm AEST			5-day change	1st Jan Change
1,267.10 ^INR	-0.69%		+0.04%	-43.20%

26/05	Bharat Rasayan Limited Reports Earnings Results for the Full Year Ended March 31, 2026	CI
13/02	Bharat Rasayan Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2025	CI

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Published financial data: BHARAT RASAYAN LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021	2022	2023	2024	2025
Revenues	10.92B	13.01B	12.34B	10.45B	11.73B
Total Revenues	10.92B	13.01B	12.34B	10.45B	11.73B
Cost of Goods Sold, Total	6.84B	8.43B	8.39B	7.21B	7.77B
Gross Profit	4.08B	4.59B	3.95B	3.24B	3.96B
Selling General & Admin Expenses, Total	816M	930M	888M	869M	874M
Provision for Bad Debts	-	-	-	-	-
Depreciation & Amortization - (IS)	258M	249M	260M	258M	270M
Other Operating Expenses	854M	1.08B	1.09B	1.18B	1.3B
Other Operating Expenses, Total	1.93B	2.26B	2.24B	2.31B	2.45B
Operating Income	2.15B	2.32B	1.71B	928M	1.51B
Interest Expense, Total	-36.8M	-68.18M	-58.07M	-29.57M	-47.16M
Interest And Investment Income	3.74M	3.85M	4.33M	4.71M	7.46M
Net Interest Expenses	-33.06M	-64.32M	-53.74M	-24.86M	-39.69M
Income (Loss) On Equity Invest.	-5.92M	-11.49M	-62.22M	139M	158M
Currency Exchange Gains (Loss)	31.43M	128M	176M	135M	84.93M
Other Non Operating Income (Expenses)	2.02M	120K	4.64M	-	8.61M
EBT, Excl. Unusual Items	2.15B	2.37B	1.78B	1.18B	1.72B
Gain (Loss) On Sale Of Investments	19.15M	1.63M	7.78M	55.97M	125M
Gain (Loss) On Sale Of Assets	-	-	-	194K	452K
Insurance Settlements	-	-	-	-	-
Other Unusual Items	-12.63M	-39.34M	-45.77M	-	-
EBT, Incl. Unusual Items	2.15B	2.34B	1.74B	1.23B	1.85B
Income Tax Expense	515M	577M	494M	278M	441M
Earnings From Continuing Operations	1.64B	1.76B	1.25B	955M	1.41B
Net Income to Company	1.64B	1.76B	1.25B	955M	1.41B
Net Income - (IS)	1.64B	1.76B	1.25B	955M	1.41B
Net Income to Common Incl Extra Items	1.64B	1.76B	1.25B	955M	1.41B
Net Income to Common Excl. Extra Items	1.64B	1.76B	1.25B	955M	1.41B
Per Share Items
Net EPS - Basic	96.42	105.89	74.98	57.47	84.79
Basic EPS - Continuing Operations	96.42	105.89	74.98	57.47	84.79
Basic Weighted Average Shares Outstanding	17M	16.62M	16.62M	16.62M	16.62M
Net EPS - Diluted	96.42	105.88	74.97	57.46	84.78
Diluted EPS - Continuing Operations	96.42	105.88	74.97	57.46	84.78
Diluted Weighted Average Shares Outstanding	17M	16.62M	16.62M	16.62M	16.62M
Normalized Basic EPS	78.95	89.29	66.86	44.26	64.85
Normalized Diluted EPS	78.95	89.29	66.86	44.26	64.85
Dividend Per Share	0.38	0.38	0.38	0.38	0.38
Payout Ratio	0.39	0.35	0.5	0.65	0.44
Supplemental Items
EBITDA	2.41B	2.57B	1.97B	1.18B	1.78B
EBITA	2.15B	2.32B	1.71B	928M	1.51B
EBIT	2.15B	2.32B	1.71B	928M	1.51B
EBITDAR	2.42B	2.58B	1.98B	1.19B	1.79B
Total Revenues (As Reported)	10.99B	13.17B	12.54B	10.66B	11.99B
Effective Tax Rate - (Ratio)	23.9	24.69	28.39	22.55	23.83
Total Current Taxes	529M	579M	498M	253M	397M
Total Deferred Taxes	-14.15M	-1.75M	-4.33M	25.06M	43.48M
Normalized Net Income	1.34B	1.48B	1.11B	736M	1.08B
Non-Cash Pension Expense	4.56M	1.77M	3.51M	6.05M	7.97M
Supplemental Operating Expense Items
Advertising Expense	6.06M	6.13M	9.07M	15.78M	12.57M
Selling and Marketing Expenses	6.06M	6.13M	9.07M	15.78M	12.57M
Research And Development Expense From Footnotes	22.92M	23.22M	24.2M	22.34M	32.76M
Net Rental Expense, Total	10.01M	9.67M	8.68M	8.71M	7.49M
Imputed Operating Lease Interest Expense	3.87M	4.54M	4M	3.8M	3.41M
Imputed Operating Lease Depreciation	6.14M	5.12M	4.68M	4.91M	4.08M

Fiscal Period: March	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	266M	3.35M	186M	324M	554M
Short Term Investments	1.06B	-	300M	922M	2.3B
Total Cash And Short Term Investments	1.33B	3.35M	486M	1.25B	2.86B
Accounts Receivable, Total	2.96B	4.64B	3.25B	3.94B	4.19B
Other Receivables	298M	305M	593M	948M	703M
Total Receivables	3.25B	4.94B	3.84B	4.88B	4.9B
Inventory	1.69B	2.77B	3.23B	2.67B	2.9B
Prepaid Expenses	10.98M	13.35M	16.2M	13.49M	14.97M
Other Current Assets, Total	228M	278M	331M	258M	259M
Total Current Assets	6.5B	8.01B	7.91B	9.07B	10.93B
Gross Property Plant And Equipment	3.82B	4.37B	4.58B	4.85B	5.18B
Accumulated Depreciation	-1.73B	-1.98B	-2.23B	-2.49B	-2.73B
Net Property Plant And Equipment	2.08B	2.39B	2.35B	2.36B	2.45B
Long-term Investments	445M	433M	370M	509M	684M
Other Intangibles, Total	1.32M	1.5M	1.02M	854K	805K
Other Long-Term Assets, Total	43.98M	63.99M	106M	33.53M	21.74M
Total Assets	9.08B	10.9B	10.74B	11.97B	14.08B
Liabilities
Accounts Payable, Total	612M	682M	748M	728M	1.42B
Accrued Expenses, Total	63.76M	28.76M	27.73M	31.63M	83.62M
Short-term Borrowings	584M	1.73B	279M	805M	852M
Current Income Taxes Payable	60.63M	71.56M	22.07M	-	9.89M
Unearned Revenue Current, Total	5.48M	121M	92.75M	10.17M	19M
Other Current Liabilities	377M	457M	535M	396M	223M
Total Current Liabilities	1.7B	3.09B	1.71B	1.97B	2.61B
Long-Term Debt	-	10M	-	-	-
Pension & Other Post Retirement Benefits	-	-	-	-	-
Deferred Tax Liability Non Current	90.2M	88.46M	84.13M	109M	153M
Other Non Current Liabilities	12.49M	12.92M	13.86M	15.97M	20.03M
Total Liabilities	1.81B	3.2B	1.8B	2.1B	2.78B
Common Stock, Total	42.49M	41.55M	41.55M	41.55M	41.55M
Retained Earnings	7.23B	7.66B	8.89B	9.84B	11.26B
Comprehensive Income and Other	-	935K	936K	935K	935K
Total Common Equity	7.27B	7.7B	8.93B	9.88B	11.3B
Total Equity	7.27B	7.7B	8.93B	9.88B	11.3B
Total Liabilities And Equity	9.08B	10.9B	10.74B	11.97B	14.08B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	16.99M	16.62M	16.62M	16.62M	16.62M
ECS Total Common Shares Outstanding	16.99M	16.62M	16.62M	16.62M	16.62M
Book Value / Share	427.94	463.28	537.46	594.36	679.86
Tangible Book Value	7.27B	7.7B	8.93B	9.88B	11.3B
Tangible Book Value Per Share	427.86	463.19	537.39	594.31	679.81
Total Debt	584M	1.74B	279M	805M	852M
Net Debt	-741M	1.73B	-207M	-442M	-2B
Debt Equivalent of Unfunded Proj. Benefit Obligation	3.76M	2.57M	7.76M	5.93M	1.62M
Debt Equivalent Oper. Leases	80.06M	77.35M	69.46M	69.69M	59.95M
Equity Method Investments, Total	444M	433M	370M	509M	684M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	643M	790M	1.02B	1B	777M
Inventories - Work In Process, Total	-	-	-	-	-
Inventories - Finished Goods, Total	950M	1.8B	1.96B	1.53B	2B
Inventories - Others	92.92M	182M	254M	138M	125M
Land - (BS)	83.92M	273M	273M	272M	272M
Buildings, Total	980M	1.05B	1.06B	1.08B	1.08B
Machinery, Total	2.58B	2.93B	3.14B	3.43B	3.67B
Full Time Employees	849	885	797	816	861

Fiscal Period: March	2021	2022	2023	2024	2025
Net Income	1.64B	1.76B	1.25B	955M	1.41B
Depreciation & Amortization - CF	256M	249M	260M	258M	270M
Amortization of Goodwill and Intangible Assets - (CF)	1.43M	602K	471K	170K	49K
Depreciation & Amortization, Total	258M	249M	260M	258M	270M
Amortization of Deferred Charges, Total - (CF)	-	-	-	-	-
(Gain) Loss From Sale Of Asset	-26.52M	-116K	-	194K	-452K
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
(Income) Loss On Equity Investments - (CF)	5.92M	11.49M	62.22M	-139M	-158M
Other Operating Activities, Total	7.83M	-65.97M	-140M	-120M	19.64M
Change In Accounts Receivable	-450M	-1.68B	1.39B	-686M	-256M
Change In Inventories	-82.32M	-1.09B	-459M	565M	-237M
Change In Accounts Payable	220M	69.65M	66.52M	-19.82M	693M
Change in Other Net Operating Assets	131M	88.91M	-289M	-402M	-19.97M
Cash from Operations	1.7B	-655M	2.13B	411M	1.72B
Capital Expenditure	-304M	-557M	-235M	-271M	-357M
Sale of Property, Plant, and Equipment	198M	2.94M	14.07M	1.04M	3.12M
Investment in Marketable and Equity Securities, Total	-1.42B	1.06B	-299M	-622M	-1.38B
Other Investing Activities, Total	-317K	6.4M	-85.1M	-5.55M	163M
Cash from Investing	-1.53B	511M	-605M	-897M	-1.57B
Short Term Debt Issued, Total	-	-	-	525M	47.45M
Long-Term Debt Issued, Total	-	1.15B	-	-	-
Total Debt Issued	-	1.15B	-	525M	47.45M
Long-Term Debt Repaid, Total	-354M	-	-1.46B	-	-
Total Debt Repaid	-354M	-	-1.46B	-	-
Repurchase of Common Stock	-	-1.33B	-	-	-
Common Dividends Paid	-6.37M	-6.23M	-6.23M	-6.23M	-6.23M
Common & Preferred Stock Dividends Paid	-6.37M	-6.23M	-6.23M	-6.23M	-6.23M
Other Financing Activities, Total	-36.8M	-68.18M	-58.07M	-29.57M	-47.16M
Cash from Financing	-397M	-248M	-1.52B	490M	-5.94M
Foreign Exchange Rate Adjustments	31.43M	128M	176M	135M	84.93M
Miscellaneous Cash Flow Adjustments	-	-	-	-	-
Net Change in Cash	-189M	-263M	182M	139M	230M
Supplemental Items
Cash Interest Paid	36.8M	68.18M	58.07M	29.57M	47.16M
Cash Income Tax Paid (Refund)	508M	578M	505M	286M	377M
Levered Free Cash Flow	1.13B	-1.49B	1.71B	-112M	1.17B
Unlevered Free Cash Flow	1.15B	-1.44B	1.75B	-93.28M	1.2B
Change In Net Working Capital	145M	2.59B	-649M	660M	-340M
Net Debt Issued / Repaid	-354M	1.15B	-1.46B	525M	47.45M

Fiscal Period: March	2021	2022	2023	2024	2025
Profitability
Return on Assets	16.21	14.53	9.92	5.11	7.26
Return on Total Capital	18.64	16.78	11.49	5.83	8.28
Return On Equity %	25.38	23.51	14.98	10.15	13.31
Return on Common Equity	25.38	23.51	14.98	10.15	13.31
Margin Analysis
Gross Profit Margin %	37.36	35.24	32.02	30.98	33.76
SG&A Margin	7.47	7.14	7.2	8.32	7.45
EBITDA Margin %	22.06	19.76	15.99	11.34	15.19
EBITA Margin %	19.72	17.85	13.89	8.88	12.89
EBIT Margin %	19.71	17.85	13.88	8.88	12.89
Income From Continuing Operations Margin %	15.01	13.53	10.1	9.14	12.01
Net Income Margin %	15.01	13.53	10.1	9.14	12.01
Net Avail. For Common Margin %	15.01	13.53	10.1	9.14	12.01
Normalized Net Income Margin	12.29	11.41	9	7.04	9.19
Levered Free Cash Flow Margin	10.35	-11.42	13.85	-1.07	9.97
Unlevered Free Cash Flow Margin	10.56	-11.09	14.14	-0.89	10.22
Asset Turnover
Asset Turnover	1.32	1.3	1.14	0.92	0.9
Fixed Assets Turnover	5.09	5.82	5.21	4.43	4.88
Receivables Turnover (Average Receivables)	4	3.43	3.13	2.91	2.89
Inventory Turnover (Average Inventory)	4.16	3.78	2.8	2.45	2.79
Short Term Liquidity
Current Ratio	3.82	2.59	4.64	4.6	4.19
Quick Ratio	2.69	1.6	2.54	3.11	2.97
Operating Cash Flow to Current Liabilities	1	-0.21	1.25	0.21	0.66
Days Sales Outstanding (Average Receivables)	91.28	106.5	116.62	125.9	126.47
Days Outstanding Inventory (Average Inventory)	87.75	96.54	130.57	149.68	130.83
Average Days Payable Outstanding	26.48	24.82	29.48	40.66	48.99
Cash Conversion Cycle (Average Days)	152.55	178.23	217.71	234.93	208.31
Long Term Solvency
Total Debt/Equity	8.04	22.55	3.13	8.15	7.54
Total Debt / Total Capital	7.44	18.4	3.03	7.53	7.01
LT Debt/Equity	-	0.13	-	-	-
Long-Term Debt / Total Capital	-	0.11	-	-	-
Total Liabilities / Total Assets	19.89	29.34	16.79	17.5	19.75
EBIT / Interest Expense	58.49	34.06	29.51	31.38	32.08
EBITDA / Interest Expense	65.48	37.72	34	40.1	37.8
(EBITDA - Capex) / Interest Expense	57.21	29.55	29.95	30.95	30.23
Total Debt / EBITDA	0.24	0.68	0.14	0.68	0.48
Net Debt / EBITDA	-0.31	0.67	-0.1	-0.37	-1.12
Total Debt / (EBITDA - Capex)	0.28	0.86	0.16	0.88	0.6
Net Debt / (EBITDA - Capex)	-0.35	0.86	-0.12	-0.48	-1.41
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-10.13	19.15	-5.13	-15.37	12.29
Gross Profit, 1 Yr. Growth %	8.54	12.38	-13.79	-18.14	22.39
EBITDA, 1 Yr. Growth %	4.96	6.7	-22.08	-39.92	50.38
EBITA, 1 Yr. Growth %	3.5	7.84	-24.95	-45.84	63.02
EBIT, 1 Yr. Growth %	3.64	7.88	-24.95	-45.83	63.05
Earnings From Cont. Operations, 1 Yr. Growth %	3.95	7.39	-29.19	-23.35	47.54
Net Income, 1 Yr. Growth %	3.95	7.39	-29.19	-23.35	47.54
Normalized Net Income, 1 Yr. Growth %	3.02	10.6	-23.89	-33.72	46.52
Diluted EPS Before Extra, 1 Yr. Growth %	3.95	9.81	-29.19	-23.35	47.54
Accounts Receivable, 1 Yr. Growth %	17.96	56.88	-29.91	21.11	6.5
Inventory, 1 Yr. Growth %	5.13	64.45	16.56	-17.48	8.9
Net Property, Plant and Equip., 1 Yr. Growth %	-5.61	14.62	-1.62	0.49	3.57
Total Assets, 1 Yr. Growth %	20.75	20.04	-1.1	11.53	17.6
Tangible Book Value, 1 Yr. Growth %	28.96	5.87	16.02	10.59	14.39
Common Equity, 1 Yr. Growth %	28.92	5.88	16.01	10.59	14.39
Cash From Operations, 1 Yr. Growth %	-35.19	-138.46	-425.94	-80.75	318.77
Capital Expenditures, 1 Yr. Growth %	-47.92	83.04	-57.78	15.04	31.89
Levered Free Cash Flow, 1 Yr. Growth %	-31.14	-231.43	-213.24	-106.54	-1.15K
Unlevered Free Cash Flow, 1 Yr. Growth %	-33.68	-225.11	-219	-105.35	-1.39K
Dividend Per Share, 1 Yr. Growth %	0	0	0	0	0
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	4.91	3.48	6.32	-10.4	-2.52
Gross Profit, 2 Yr. CAGR %	15	10.44	-1.57	-15.99	0.1
EBITDA, 2 Yr. CAGR %	13.35	5.82	-9.5	-31.6	-4.95
EBITA, 2 Yr. CAGR %	12.35	5.64	-10.79	-36.27	-6.03
EBIT, 2 Yr. CAGR %	12.38	5.74	-10.77	-36.26	-6.02
Earnings From Cont. Operations, 2 Yr. CAGR %	21.22	5.66	-12.8	-26.33	6.34
Net Income, 2 Yr. CAGR %	21.22	5.66	-12.8	-26.33	6.34
Normalized Net Income, 2 Yr. CAGR %	16.98	6.74	-9	-29.02	-1.45
Diluted EPS Before Extra, 2 Yr. CAGR %	21.22	6.84	-11.82	-26.33	6.34
Accounts Receivable, 2 Yr. CAGR %	2.91	36.03	4.86	-7.86	13.57
Inventory, 2 Yr. CAGR %	-10.46	31.49	38.45	-1.92	-5.2
Net Property, Plant and Equip., 2 Yr. CAGR %	6.2	4.01	6.19	-0.57	2.02
Total Assets, 2 Yr. CAGR %	9.61	20.39	8.74	5.03	14.52
Tangible Book Value, 2 Yr. CAGR %	33.48	16.85	10.83	13.27	12.47
Common Equity, 2 Yr. CAGR %	33.38	16.83	10.83	13.27	12.47
Cash From Operations, 2 Yr. CAGR %	80.37	-50.07	11.96	-20.78	-10.21
Capital Expenditures, 2 Yr. CAGR %	-20.18	-2.37	-12.09	-30.31	23.18
Levered Free Cash Flow, 2 Yr. CAGR %	-5.14	-4.87	22.97	-72.79	-17.27
Unlevered Free Cash Flow, 2 Yr. CAGR %	-0.17	-8.92	23.03	-74.78	-17.11
Dividend Per Share, 2 Yr. CAGR %	0	0	0	0	0
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	11.15	9.46	0.53	-1.47	-3.4
Gross Profit, 3 Yr. CAGR %	14.34	14.12	1.69	-7.44	-4.77
EBITDA, 3 Yr. CAGR %	15.05	11.08	-4.92	-21.07	-11.06
EBITA, 3 Yr. CAGR %	14.96	10.82	-6.26	-24.48	-12.84
EBIT, 3 Yr. CAGR %	14.94	10.86	-6.21	-24.46	-12.83
Earnings From Cont. Operations, 3 Yr. CAGR %	18.57	16.42	-7.54	-16.47	-7.14
Net Income, 3 Yr. CAGR %	18.57	16.42	-7.54	-16.47	-7.14
Normalized Net Income, 3 Yr. CAGR %	17.22	14.81	-5.16	-18.16	-9.62
Diluted EPS Before Extra, 3 Yr. CAGR %	18.57	17.29	-6.85	-15.84	-7.14
Accounts Receivable, 3 Yr. CAGR %	10.08	18.44	9.06	10.02	-3.31
Inventory, 3 Yr. CAGR %	21.41	9.66	26.31	16.52	1.56
Net Property, Plant and Equip., 3 Yr. CAGR %	10.5	8.94	2.1	4.26	0.79
Total Assets, 3 Yr. CAGR %	21.7	12.98	12.61	9.67	9.06
Tangible Book Value, 3 Yr. CAGR %	34.64	23.56	16.57	10.75	13.64
Common Equity, 3 Yr. CAGR %	34.6	23.5	16.56	10.75	13.64
Cash From Operations, 3 Yr. CAGR %	80.78	7.76	-6.69	-37.74	38
Capital Expenditures, 3 Yr. CAGR %	-9.42	5.26	-26.17	-3.85	-13.8
Levered Free Cash Flow, 3 Yr. CAGR %	48.94	5.75	1.36	-53.76	-8.16
Unlevered Free Cash Flow, 3 Yr. CAGR %	61.7	7.63	0.12	-56.75	-6.51
Dividend Per Share, 3 Yr. CAGR %	0	0	0	0	0
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	19.11	15.96	9.19	1.04	-0.7
Gross Profit, 5 Yr. CAGR %	20.1	21.68	7.69	0.96	1.05
EBITDA, 5 Yr. CAGR %	24.46	18.4	4.52	-8.78	-4.94
EBITA, 5 Yr. CAGR %	27.65	19.83	3.87	-11.47	-6.18
EBIT, 5 Yr. CAGR %	27.64	19.82	3.87	-11.45	-6.15
Earnings From Cont. Operations, 5 Yr. CAGR %	37.06	26.4	4.85	-3.05	-2.22
Net Income, 5 Yr. CAGR %	37.06	26.4	4.85	-3.05	-2.22
Normalized Net Income, 5 Yr. CAGR %	33.04	23.11	5.93	-5.59	-3.72
Diluted EPS Before Extra, 5 Yr. CAGR %	37.06	26.97	5.32	-2.62	-1.78
Accounts Receivable, 5 Yr. CAGR %	27.37	31.01	7.96	7.12	10.84
Inventory, 5 Yr. CAGR %	24.33	27.01	27.96	4.87	12.61
Net Property, Plant and Equip., 5 Yr. CAGR %	8.9	12.57	8.76	5.03	2.07
Total Assets, 5 Yr. CAGR %	22.75	24.15	16.34	9.64	13.37
Tangible Book Value, 5 Yr. CAGR %	37.81	30.86	24.56	19.34	14.91
Common Equity, 5 Yr. CAGR %	37.8	30.85	24.53	19.3	14.91
Cash From Operations, 5 Yr. CAGR %	29.5	32.91	49.25	-4.72	-8.11
Capital Expenditures, 5 Yr. CAGR %	15.06	34.85	-10.5	-10.75	-9.4
Levered Free Cash Flow, 5 Yr. CAGR %	45.62	40.59	37.95	-38.36	-6.56
Unlevered Free Cash Flow, 5 Yr. CAGR %	35.71	49.15	44.95	-39.57	-7.17
Dividend Per Share, 5 Yr. CAGR %	4.56	0	0	0	0