Investor Presentation for the Quarter and Year ended March 31, 2026
BHAGCHEM · price
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Bhagiradha Chemicals reported strong FY26 results with revenue growing 22% to Rs. 535.9 crore, EBITDA up 55% to Rs. 57.1 crore, and PAT rising 31% to Rs. 18.2 crore versus FY25. Q4FY26 was particularly robust with revenue up 29% YoY to Rs. 158.1 crore and EBITDA surging 220% to Rs. 19.4 crore. Gross margins expanded by 717 basis points YoY in Q4 to 38.9%, while EBITDA margin improved from 5% to 12.3%. The company successfully commissioned Phase I of its Bheema Fine Chemicals subsidiary (Rs. 400 crore capitalized), launched 3 new molecules, added 19 new customers including 5 major ones. The Karnataka plant is currently at 35% capacity utilization with full ramp-up expected over 12-24 months. The Board recommended a dividend of Rs. 0.15 per share.
The strong recovery in margins and operational performance signals improving execution at the new facility. With multi-year revenue targets and expanding margins, the stock could re-rate as the Bheema plant reaches full capacity in FY27. However, elevated debt levels (Rs. 231 crore total borrowings) and geopolitical risks remain watch factors.