Manufactures and sells chemicals — primarily dyes and pigments — which generated 95.2 percent of FY26 segment revenue (Rs 829.555 crore) at an 8.3 percent segment EBIT margin. The chemicals plant ran at 95–97 percent utilization through FY26. A solar power segment contributed 3.1 percent of segment revenue (Rs 26.8575 crore) at a 43.1 percent EBIT margin, while a small pharma intermediates line (0.5 percent of revenue, Rs 4.1994 crore) ran at an EBIT loss, and residual "Others" made up 1.2 percent. FY26 total revenue was Rs 873.96 crore, up 47 percent year-on-year, against a net profit of Rs 44.49 crore. Materials are the dominant cost at 61.9 percent of revenue (Rs 540.58 crore), followed by other operating expenses at 13.4 percent and depreciation at 3.7 percent; the business also invested Rs 143.26 crore in capex during the year. Operations are classified under chemicals & petrochemicals, with the dyes and pigments basic industry as the core. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Chemical (95%), Solar Power (3%), Others (1%), Pharma (1%). Chemicals maker concentrated in dyes and pigments with a small solar power side business and a loss-making pharma line
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 601 | 501 | 494 | 595 | 874 |
| EBITDA (ex other income) | 116 | 54 | 43 | 81 | 91 |
| margin % | 19.4 | 10.9 | 8.7 | 13.7 | 10.4 |
| Owners' profit | 71 | 15 | 19 | 40 | 46 |
| EPS, as reported (₹) | 16.17 | 3.38 | 4.37 | 9.26 | 10.56 |
| ROE % · ROCE % | 13.9 · 17.7 | 2.9 · 4.4 | 3.5 · 5.0 | 7.0 · 9.4 | 7.5 · 9.1 |
| Debt / equity (x) | 0.07 | 0.08 | 0.09 | 0.08 | 0.17 |
| Cash from operations | 76 | 28 | 23 | 52 | 99 |
| Capex | (58) | (14) | (27) | (27) | (143) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 129 | 170 | 183 | 157 | 204 | 242 | 271 | 286 |
| Profit before tax | 8 | 16 | 22 | 15 | 16 | 14 | 17 | 46 |
| Net profit | 6 | 11 | 15 | 11 | 11 | 11 | 11 | 34 |
| EPS (₹) | 1.50 | 2.78 | 3.61 | 2.58 | 2.70 | 2.56 | 2.71 | 7.83 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| (a) Segment -A (Chemical) | 256 | 29.3 |
| (b) Segment -B (Solar Power) | 8 | 0.9 |
| (c) Segment -C (Pharma) | 5 | 0.5 |
| (d) Others | 2 | 0.2 |
| Chemical | 574 | 65.7 |
| Solar Power | 19 | 2.2 |
| Pharma | 2 | 0.2 |
| Others | 9 | 1.0 |
| Total, before eliminations | 874 | 100.0 |
| Company | M.cap ₹ cr | P/E |
|---|
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 1 Aug 2026 · AGM 2026 results: all 7 resolutions passed with over 99.99 percent approval | board shareholder meetings | low | — | — |
| 1 Aug 2026 · 37th AGM concluded: All 7 resolutions passed, dividend declared | board shareholder meetings | medium | — | — |
| 30 Jul 2026 · SAT adjourns Bhageria promoters' SEBI case to October 21, 2026 | regulatory legal | high | — | — |
| 23 Jul 2026 · Bhageria Industries publishes Q1FY27 results in newspapers | compliance | minimal | — | — |
| 22 Jul 2026 · Strong Q1 FY27 results: Bhageria Industries revenue up 80%, PAT triples | results | high | — | — |
| 22 Jul 2026 · Q1 FY27 results: Revenue up 80 percent, PAT triples year on year | results | high | — | — |
| 16 Jul 2026 · Board Meeting on July 22 for Q1 FY27 Results | results | low | — | — |
| 10 Jul 2026 · AGM Notice and Integrated Annual Report Sent to Shareholders | compliance | minimal | — | — |
| 10 Jul 2026 · AGM notice published in newspapers; 37th AGM on Aug 1, 2026 | compliance | minimal | — | — |
| 10 Jul 2026 · Letter to Shareholders: 37th AGM on August 1, 2026 via Video Conferencing | compliance | minimal | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| P/B |
|---|
| EV/EBITDA |
|---|
| ROE % |
|---|
| ROCE % |
|---|
| Rev CAGR 5y % |
|---|
| EBITDA m. % |
|---|
| SUDARSHAN CHEMICAL INDS L | 9,898 | 136.8 | 2.57 | 17.3 | 1.1 | 1.9 | 39.3 | 10.5 |
| KIRI INDUSTRIES LIMITED | 3,483 | 0.6 | 0.54 | 0.5 | 86.4 | 86.1 | (2.6) | 96.6 |
| SHRE PUSH CHEM & FERT LTD | 1,576 | 21.9 | 2.58 | 15.1 | 11.5 | 12.5 | 22.4 | 13.1 |
| BHAGERIA INDUSTRIES LTD ◆ | 1,389 | 20.1 | 2.34 | 15.2 | 7.5 | 8.6 | 16.8 | 20.1 |
| ULTRAMARINE & PIGMENTS L | 1,241 | 15.3 | 1.43 | 9.5 | 9.3 | 11.1 | 20.2 | 13.8 |
| SUDARSHAN COLORNT IND LTD | 871 | 18.2 | 1.53 | — | 7.8 | 9.6 | — | 14.8 |
| ASAHI SONGWON COLOR LTD | 430 | 12.3 | 1.44 | 10.1 | 6.0 | 7.0 | 13.6 | 17.3 |
| AKSHARCHEM INDIA LIMITED | 341 | 24.3 | 1.31 | — | (0.2) | (1.5) | — | 16.1 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 20.1 | 19.8 | 6 of 10 | 44% |
| P/B | 2.3 | 1.5 | 7 of 10 | 33% |
| ROCE | 8.6 | 7.8 | 5 of 10 | 56% |
| ROE | 7.5 | 6.7 | 5 of 10 | 56% |
| Debt / Equity | 0.2 | 0.2 | 5 of 10 | 56% |
| EBITDA margin | 20.1 | 14.3 | 2 of 10 | 89% |
| Revenue growth | 81.9 | 7.8 | 1 of 10 | 100% |
| Profit growth | 211.6 | 53.6 | 4 of 10 | 67% |
| Market cap | 1389 | 1056 | 4 of 10 | 67% |
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| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
