Madhya Bharat Agro logo

Madhya Bharat Agro

MBAPL NSE

Key Fundamentals

MicrocapFertilizersChemicals
Market Cap
₹7,010 Cr
Volatility
Moderate
P/E Ratio
45.57
EBITDA
₹243 Cr
Return on Equity
27.32%
Debt to Equity
1.56
Book Value
₹12.55
EPS
₹3.32
52W High
₹174.94
52W Low
₹74.63

Tapetide Score

Data-driven rating, 0–100. How it works →

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 12.8 times its book value
  • Tax rate seems low
  • Company might be capitalizing the interest cost

Growth Rate

Revenue Growth
75.99% higher than 3Y
Net Income Growth
161% higher than 3Y
Cash Flow Change
-232% lower than 3Y
ROE
91.99% higher than 3Y
ROCE
-4.65% lower than 3Y
EBITDA Margin (Avg.)
-11.75% lower than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 44d ago
AI 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 anthropic claude-opus-4.6 42d 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

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 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
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
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%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

DIIs0.01%Promot.74.76%FIIs0.67%Public10.30%Others14.27%As ofJun 2026

Documents

Frequently Asked Questions about Madhya Bharat Agro

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 trades as MBAPL on the NSE.
Which sector does Madhya Bharat Agro Products Ltd belong to?
Madhya Bharat Agro Products Ltd is classified under the Chemicals sector, in the Fertilizers industry.
What is the market capitalisation of Madhya Bharat Agro Products Ltd?
Madhya Bharat Agro Products Ltd has a market capitalisation of ₹7,010 Cr, which places it in the Mid Cap band.
What is the PE ratio of Madhya Bharat Agro Products Ltd?
Madhya Bharat Agro Products Ltd trades at a PE ratio of 45.57, on earnings per share of ₹3.32, against a book value of ₹12.55 per share.
What is the 52-week high and low of Madhya Bharat Agro Products Ltd?
Over the last 52 weeks Madhya Bharat Agro Products Ltd has traded between ₹74.63 and ₹174.94.
Does Madhya Bharat Agro Products Ltd pay dividends?
Madhya Bharat Agro Products Ltd has a dividend yield of 0.31%.
What is the Return on Equity (ROE) of Madhya Bharat Agro Products Ltd?
Madhya Bharat Agro Products Ltd reported a return on equity of 27.32%. Its debt-to-equity ratio is 1.56.

Company Information

Madhya Bharat Agro Products Ltd, part of Ostwal Group, is engaged in the business of manufacturing fertiliser and chemical products. [1]

Website mbapl.com
Listed 2019-08-22
Face Value ₹ 2
Issued Size 8,76,26,940

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