Madhya Bharat Agro P. Ltd
NSE: MBAPL · Chemicals · sector
₹160.06NSE close 2026-10-26
Key numbers
Market cap₹7,013 cr
Price₹160.06
52w high / low₹175 / ₹77
P/E54.5xSector median 54.5x
P/B12.8xSector median 12.8x
Book value₹12.6
Dividend yield0.06%Sector median 0.06%
ROE32.5%Sector median 32.5%
ROCE15.3%Sector median 15.3%
OPM12.6%Sector median 12.6%
Debt / equity1.56xSector median 1.56x
EV/EBITDA33.3xSector median 33.3x
Interest cover5.3x
Current ratio1.44x
Sales growth 3y+23.9%Sector median +23.9%
Profit growth 3y+6.5%Sector median +6.5%
PEG–
Last 12 months to Jun 2026, Standalone. "Sector median" = middle value of 1 companies in Chemicals (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹25 cr vs borrowings ₹855 cr (FY26): borrowings are higher by ₹831 cr.
- Operating profit covered interest 5.3x in the last 12 months.
- No promoter shares are pledged.
- Promoter holding fell by 3.25 percentage points in a year, to 71.38% (2026-09-30).
- Operating cash flow was below net profit in 3 of the last 5 years (FY26, FY23, FY22).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 12% of net profit in the last 12 months.
- Dividend paid in 5 of the last 5 financial years.
- Price ₹160.06 on 2026-10-26: -8.5% from the 52-week high, +109.1% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹167.10 · low ₹118.05
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 278 | 284 | 297 | 410 | 450 | 612 | 395 | 416 |
| EBITDA | 36 | 39 | 36 | 57 | 62 | 66 | 41 | 66 |
| OPM % | 13.0% | 13.9% | 12.2% | 13.9% | 13.7% | 10.9% | 10.4% | 15.8% |
| Other income | 2 | 2 | 6 | 3 | 2 | 3 | 9 | 5 |
| Net profit | 14 | 18 | 14 | 28 | 30 | 32 | 60 | 33 |
| EPS (₹) | 0.32 | 0.41 | 0.33 | 0.64 | 0.70 | 0.72 | 1.36 | 0.15 |
| Revenue YoY | +61.8% | +115.8% | +33.0% | +1.6% | ||||
| Profit YoY | +120.1% | +77.4% | +319.4% | +16.8% |
Standalone figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 491 | 982 | 817 | 1,059 | 1,867 | 1,874 |
| EBITDA | 107 | 210 | 97 | 145 | 227 | 235 |
| Net profit | 57 | 124 | 25 | 57 | 150 | 155 |
| EPS (₹) | 5.21 | 5.67 | 0.57 | 1.31 | 3.43 | 2.93 |
| Revenue growth | +99.8% | -16.8% | +29.6% | +76.3% | +47.7% | |
| Profit growth | +117.8% | -80.0% | +131.4% | +161.3% | +108.8% | |
| Dividend / share (₹) | 0.50 | 0.50 | 0.50 | 0.50 | 0.50 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +23.9% | +58.7% | +47.7% |
| Net profit | +6.5% | +49.3% | +108.8% |
| EPS | -15.4% | +13.2% | – |
| Share price | – | +89.1% (2y) | +80.0% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 328 | 351 | 404 | 550 |
| Borrowings | – | 323 | 290 | 318 | 855 |
| Cash & equivalents | – | 21 | 12 | 12 | 25 |
| Total assets | – | 743 | 804 | 946 | 1,682 |
| Fixed assets | – | 203 | 265 | 279 | 436 |
| Capital work in progress | – | 0 | 14 | 74 | 277 |
| Investments | – | 0 | 0 | 0 | 0 |
| Receivables | – | 199 | 186 | 256 | 426 |
| Inventory | – | 214 | 207 | 167 | 360 |
| Payables | – | 14 | 62 | 94 | 134 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | -72 | -70 | 149 | 96 | -127 |
| Cash from investing | -13 | -65 | -94 | -92 | -373 |
| Cash from financing | 85 | 141 | -61 | -4 | 501 |
| Capex | 13 | 70 | 105 | 108 | 399 |
| Free cash flow | -85 | -140 | 44 | -12 | -526 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 37.8% | 7.1% | 14.2% | 27.3% |
| ROCE % | – | 29.6% | 12.3% | 17.0% | 14.7% |
| Debtor days | – | 74 | 83 | 88 | 83 |
| Inventory days | – | 125 | 136 | 85 | 96 |
| Payable days | – | 8 | 40 | 48 | 36 |
| Cash conversion cycle (days) | – | 191 | 179 | 125 | 143 |
| Working capital days | – | 68 | 59 | 55 | 54 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 71.38% |
| FIIs | 0.88% |
| DIIs | 0.21% |
| of which Mutual funds | 0.06% |
| Public (non-institutions) | 27.53% |
| Quarter | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 74.56% | 74.56% | 74.63% | 74.76% | 74.76% | 74.76% | 71.38% | 71.38% |
| Promoter group | % |
|---|---|
| Ostwal Phoschem (India) Limited | 62.28% |
| Nirmala Realinfrastructure Private Limited | 3.11% |
| Ekta Jain | 2.88% |
| Praveen Ostwal | 1.45% |
| Pankaj Ostwal | 0.90% |
| Pankaj Ostwal HUF . | 0.28% |
| Mahendra Kumar Ostwal | 0.24% |
| Ashok Kumar Parakh | 0.09% |
| Ashokkumar Haraklal Jain | 0.05% |
| Praveen Ostwal HUF . | 0.03% |
| Navin Jain | 0.02% |
| Nitu Jain | 0.02% |
| Mahendra Kumar Ostwal HUF . | 0.01% |
| Rajendra Prasad Ostwal | 0.00% |
| Pehal Ostwal | 0.00% |
| Public holders above 1% | % |
|---|---|
| Visualize Tradecom Private Limited | 3.96% |
| Suswani Textile PVT Ltd | 3.02% |
| Swastik Clothtex Private Limited | 1.59% |
| Anurag Choudhary | 1.20% |
| Mahendra Garg | 1.19% |
15,536 shareholders. Pledged: 0.00% of promoter shares.
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-07-03 | Split | Face Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 2/- Per Share |
| 2026-06-17 | Dividend | Dividend - Re 0.50 Per Share |
| 2025-08-26 | Dividend | Dividend - Rs 0.50 Per Share |
| 2024-09-13 | Dividend | Dividend - Rs 0.50 Per Share |
| 2023-10-20 | Bonus | Bonus 1:1 |
| 2023-09-18 | Dividend | Annual General Meeting/Dividend - Rs 0.50 Per Share |
| 2022-10-18 | Bonus | Bonus 1:1 |
| 2022-09-16 | Dividend | Annual General Meeting/Dividend - Re 0.50 Per Share |
| 2021-09-17 | Dividend | Annual General Meeting/Dividend - Rs 0.50 Per Share |
| 2020-09-17 | Dividend | Annual General Meeting/Dividend - Rs 0.50 Per Share |
| 2019-09-18 | Dividend | Annual General Meeting/Dividend - Rs 0.50 Per Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
Links go to the original files on the exchange website.
About the company
- Fertilizer: Manufacturing, Distribution, Sales & Marketing of crop Protection and crop Nutrition Products
| Sector | Chemicals |
| Industry | Chemicals |
| Sub-industry | |
| Symbol | MBAPL |
| BSE code | – |
| ISIN | INE900L01028 |
| Face value | ₹2.0 |
| Incorporated | 1997-10-22 |
| Website | www.mbapl.com |
| Plants (India / abroad) | 3 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.