Madhya Bharat Agro Products Ltd
MBAPL NSE
Madhya Bharat Agro Products Ltd
ChemicalsNSE: MBAPL Fertilizers
Key Fundamentals
MicrocapFertilizersChemicalsMarket Cap
₹7,177 Cr
Volatility
Moderate
P/E Ratio
46.03
EBITDA
₹243 Cr
Return on Equity
27.32%
Debt to Equity
1.56
Book Value
₹12.55
EPS
₹3.32
52W High
₹172.85
52W Low
₹74.63
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Madhya Bharat Agro Products Ltd insights
45 extracted metrics + investor summaries across FY12–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
3- Company is expected to give good quarter
- Company has a good return on equity (ROE) track record: 3 Years ROE 19.4%
- Company's median sales growth is 28.0% of last 10 years
Weaknesses
3- Stock is trading at 13.1 times its book value
- Tax rate seems low
- Company might be capitalizing the interest cost
Growth Rate
Revenue Growth
75.99% ↗
Net Income Growth
161.22% ↗
Cash Flow Change
-232.40% ↘
ROE
91.99% ↗
ROCE
-4.65% ↘
EBITDA Margin (Avg.)
-11.75% ↘
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 18d agoAI opinion · based on fundamentals
Risk high
Madhya Bharat Agro Products Ltd is a small-cap chemicals company with a market cap of ₹7,258 Cr, trading at a PE of 46.8x and 13.2x book value. The company has delivered strong TTM sales growth of 48% and TTM profit growth of 109%, with a last-year ROE of 31%, but trades at elevated valuation multiples relative to its size and sector.
Bull Case 7
- TTM profit growth of 109% indicates a sharp acceleration in earnings momentum
- Last year ROE of 31% is well above typical chemical sector averages, indicating efficient capital deployment
- 5-year compounded sales CAGR of 59% demonstrates sustained revenue scaling over a long period
- 10-year median sales growth of 28% reflects a consistent long-term demand trajectory
- 3-year ROE of 19% and 5-year ROE of 25% show the high return profile is not a one-off phenomenon
- TTM sales growth of 48% suggests the company is gaining market share or benefiting from volume and pricing tailwinds
- Stock CAGR of 86% over 1 year reflects strong market re-rating driven by improving fundamentals
Bear Case 8
- PE of 46.8x is expensive for a small-cap chemicals company and leaves little margin of safety if growth slows
- Price-to-book of 13.2x is extremely elevated, implying the market is pricing in years of sustained high growth
- 3-year compounded profit CAGR of only 6% versus TTM profit growth of 109% suggests earnings have been lumpy and inconsistent
- Potential capitalization of interest costs raises questions about the true operating profitability and accounting quality
- Low tax rate raises concerns about sustainability of reported net profit margins going forward
- Dividend yield of just 0.3% offers minimal income cushion, making returns entirely dependent on capital appreciation
- 5-year stock CAGR of 86% has significantly outpaced the 5-year profit CAGR of 49%, indicating valuation expansion that may not be sustainable
- Absence of reported debt-to-equity and EPS data limits visibility into the company's leverage and per-share economics
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 16d ago Neutral 1
- ₹317 cr preferential issue proposed Aug 1
MBAPL seeks shareholder approval for a ₹317.48 crore preferential issue to 17 non-promoter investors at ₹145/share. EGM scheduled for August 28, 2026 will also vote on MOA amendments for business diversification.
TL;DR: Limited news flow for MBAPL with a single notable development: a proposed ₹317.48 crore preferential issue aimed at funding working capital and capex. The diversification intent via MOA amendments signals strategic expansion, but dilution to non-promoter investors and execution clarity remain areas to watch as the EGM approaches on August 28.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 149 | 278 | 244 | 146 | 200 | 278 | 284 | 297 | 410 | 450 | 612 | 395 | 416 |
| Expenses | 125 | 238 | 226 | 132 | 167 | 242 | 244 | 261 | 353 | 388 | 546 | 353 | 350 |
| Operating Profit | 24 | 40 | 18 | 14 | 34 | 36 | 39 | 36 | 57 | 62 | 66 | 41 | 66 |
| OPM % | 16% | 15% | 7% | 10% | 17% | 13% | 14% | 12% | 14% | 14% | 11% | 10% | 16% |
| Other Income | 1 | 1 | 0 | 9 | 2 | 2 | 2 | 6 | 3 | 2 | 3 | 9 | 5 |
| Interest | 6 | 8 | 4 | 8 | 9 | 7 | 5 | 7 | 7 | 6 | 9 | 11 | 15 |
| Depreciation | 7 | 7 | 7 | 7 | 9 | 9 | 9 | 8 | 9 | 9 | 9 | 9 | 12 |
| PBT | 12 | 26 | 7 | 8 | 18 | 23 | 27 | 27 | 44 | 49 | 51 | 31 | 44 |
| Tax % | 42% | 42% | 80% | 82% | 36% | 39% | 34% | 47% | 36% | 37% | 37% | -95% | 26% |
| Net Profit | 7 | 15 | 1 | 1 | 11 | 14 | 18 | 14 | 28 | 30 | 32 | 60 | 33 |
| EPS in Rs | 0.17 | 0.34 | 0.03 | 0.03 | 0.26 | 0.32 | 0.41 | 0.33 | 0.64 | 0.7 | 0.72 | 1.36 | 0.75 |
Profit & Loss
| 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 | 62 | 65 | 82 | 90 | 107 | 129 | 185 | 490 | 981 | 815 | 1,058 | 1,866 | 1,874 |
| Expenses | 56 | 52 | 60 | 69 | 78 | 94 | 143 | 384 | 772 | 719 | 912 | 1,639 | 1,638 |
| Operating Profit | 6 | 12 | 21 | 21 | 29 | 35 | 42 | 107 | 210 | 96 | 145 | 227 | 235 |
| OPM % | 10% | 19% | 26% | 23% | 28% | 27% | 23% | 22% | 21% | 12% | 14% | 12% | 13% |
| Other Income | 6 | 0 | 4 | 0 | 0 | 0 | 0 | 0 | 5 | 11 | 11 | 17 | 19 |
| Interest | 3 | 3 | 5 | 5 | 4 | 3 | 4 | 8 | 16 | 26 | 28 | 32 | 41 |
| Depreciation | 3 | 4 | 7 | 8 | 10 | 10 | 9 | 18 | 22 | 29 | 34 | 37 | 40 |
| PBT | 6 | 6 | 13 | 7 | 16 | 21 | 29 | 81 | 176 | 52 | 95 | 174 | 174 |
| Tax % | 32% | -55% | 11% | 30% | 27% | 31% | 29% | 30% | 29% | 52% | 39% | 14% | — |
| Net Profit | 4 | 9 | 12 | 5 | 11 | 15 | 20 | 57 | 124 | 25 | 57 | 150 | 155 |
| EPS in Rs | 0.11 | 0.21 | 0.27 | 0.12 | 0.26 | 0.34 | 0.46 | 1.3 | 2.83 | 0.57 | 1.31 | 3.43 | 3.53 |
| Div. Payout % | 0% | 0% | 9% | 21% | 10% | 7% | 5% | 2% | 2% | 18% | 8% | 3% | — |
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 18 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 44 | 88 | 88 | 88 |
| Reserves | 54 | 69 | 80 | 84 | 95 | 108 | 127 | 183 | 285 | 263 | 316 | 462 |
| Borrowings | 9 | 18 | 34 | 36 | 26 | 40 | 70 | 164 | 323 | 290 | 318 | 856 |
| Other Liabilities | 13 | 4 | 14 | 11 | 16 | 19 | 45 | 70 | 92 | 163 | 223 | 277 |
| Total Liabilities | 94 | 113 | 149 | 153 | 160 | 189 | 264 | 439 | 743 | 804 | 946 | 1,682 |
| Fixed Assets | 59 | 88 | 94 | 102 | 93 | 83 | 85 | 153 | 203 | 265 | 279 | 436 |
| CWIP | 6 | 0 | 9 | 9 | 9 | 31 | 75 | 2 | 0 | 14 | 74 | 277 |
| Investments | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 27 | 24 | 46 | 42 | 58 | 75 | 104 | 283 | 540 | 525 | 592 | 968 |
| Total Assets | 94 | 113 | 149 | 153 | 160 | 189 | 264 | 439 | 743 | 804 | 946 | 1,682 |
Cash Flow
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 6 | 11 | 8 | 19 | 15 | 14 | 30 | -72 | -70 | 148 | 96 | -127 |
| Investing | -3 | -27 | -17 | -16 | -1 | -22 | -56 | -13 | -65 | -92 | -92 | -373 |
| Financing | -3 | 16 | 8 | -3 | -14 | 9 | 25 | 85 | 141 | -61 | -4 | 501 |
| Net Cash Flow | -1 | 0 | 0 | 0 | 0 | 1 | -1 | 0 | 6 | -6 | 0 | 0 |
| Free Cash Flow | 3 | -16 | -14 | 3 | 14 | -8 | -26 | -85 | -140 | 43 | -12 | -524 |
| CFO/OP | 104 | 101 | 48 | 104 | 62 | 54 | 83 | -54 | -19 | 163 | 77 | -43 |
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 | 33 | 40 | 57 | 48 | 76 | 79 | 54 | 55 | 74 | 83 | 88 | 83 |
| Inventory Days | 74 | 58 | 204 | 130 | 159 | 210 | 214 | 200 | 125 | 136 | 85 | 96 |
| Days Payable | 59 | 17 | 80 | 47 | 39 | 37 | 88 | 46 | 8 | 40 | 48 | 36 |
| Cash Conversion Cycle | 48 | 80 | 180 | 131 | 195 | 252 | 181 | 210 | 191 | 178 | 125 | 144 |
| Working Capital Days | 65 | 87 | 74 | 45 | 103 | 123 | 67 | 65 | 61 | 54 | 51 | 49 |
| ROCE % | 12% | 9% | 15% | 9% | 14% | 16% | 17% | 30% | 38% | 12% | 18% | 19% |
Documents
1
Clarification - Financial Results
23 April 2026 - Exchange has sought clarification from Madhya Bharat Agro Products Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (LODR) Regulations, … 23 April 2026 - Exchange has sought clarification from Madhya Bharat Agro Products Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (LODR) Regulations, …
Frequently Asked Questions about Madhya Bharat Agro Products Ltd
What does Madhya Bharat Agro Products Ltd do?
Madhya Bharat Agro Products Ltd, part of Ostwal Group, is engaged in the business of manufacturing fertiliser and chemical products. [1]
Where is Madhya Bharat Agro Products Ltd (MBAPL) listed?
Madhya Bharat Agro Products Ltd is listed on the Indian stock exchanges. It is listed on NSE: MBAPL. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Madhya Bharat Agro Products Ltd belong to?
Madhya Bharat Agro Products Ltd operates in the Chemicals sector within the Fertilizers industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Madhya Bharat Agro Products Ltd?
Madhya Bharat Agro Products Ltd has a market capitalisation of approximately ₹7176.65 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Madhya Bharat Agro Products Ltd?
The Price-to-Earnings (PE) ratio of Madhya Bharat Agro Products Ltd is 46.03. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Madhya Bharat Agro Products Ltd?
Over the past 52 weeks, Madhya Bharat Agro Products Ltd has traded between a low of ₹74.63 and a high of ₹172.85. This range helps investors understand the stock's price volatility and recent trading levels.
Does Madhya Bharat Agro Products Ltd pay dividends?
Yes, Madhya Bharat Agro Products Ltd has a dividend yield of 0.30%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Madhya Bharat Agro Products Ltd?
Madhya Bharat Agro Products Ltd has a Return on Equity (ROE) of 27.32%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Madhya Bharat Agro Products Ltd on Tapetide?
On Tapetide, you can view Madhya Bharat Agro Products Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
Madhya Bharat Agro Products Ltd, part of Ostwal Group, is engaged in the business of manufacturing fertiliser and chemical products. [1]