Madhya Bharat Agro Products Ltd
MBAPLMadhya Bharat Agro Products Ltd's earnings have outrun its stock. EPS grew +161.8% in a year against a −67.9% price move.
The sharpest disagreement: profits are rising, but only 50% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch.
The price is in a confirmed uptrend (78 weeks in) while the P/E sits at the 81st percentile of its own 10-year range. Underneath, the last four quarters read improving — profit +17.9% year on year, and 50% of the last 3 years' profit arrived as cash. What settles it: whether the cash starts following the profit.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Madhya Bharat Agro Products Ltd trades at ₹136, in a confirmed uptrend and 78 weeks into that stage. That is +39.2% against its own 200-day average. It sits at 6% of a 52-week range of ₹106 to ₹593. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 3 straight weeks.
Today the stock is in a confirmed uptrend — week 78 of stage 2, confirmed. At ₹136 it trades +39.2% versus its 200-day average and sits at 6% of its 52-week range (₹106–₹593).
Against the market, two honest reads. Cumulative: over the last 9.5 years the stock moved +968% while the NIFTY 500 moved +215% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 3 straight weeks — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 81st percentile of its own range.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Madhya Bharat Agro Products Ltd trades at 41.9× P/E, at the pricey end of its own range (81st percentile). Its long-run median P/E is 20.8×, measured across 9.5 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 41.9× is at the pricey end of its own range (81st percentile), against a long-run median of 20.8× measured over 9.5 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved +161.8% against a −67.9% price move — earnings outran the price, pushing the multiple DOWN its own range.
The price move, decomposed: over 5y, of the +34.4%/yr price move, ~+50.4%/yr came from earnings growth and ~−16.0 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.
→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.
Stage: Mixed Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Madhya Bharat Agro Products Ltd reads as mixed on its fundamental arc. Mixed — growth is normalizing off a hyper-growth base: revenue growth has eased from +76.3% at its peak to +47.6% but is still expanding, ROCE lifting at 33.9%. The read is built from 12 quarters across 4 curves, on full evidence.
Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +76.5% | +23.9% | +58.8% | +39.9% |
| Profit | +163.2% | +6.6% | +49.6% | +32.5% |
| EPS | +161.8% | +6.6% | +49.5% | +32.2% |
| Share price | −67.9% | −25.0% | +34.4% | — |
→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.
4-Factor Sector Score
49.0/100 — rank 9 of 15 in Fertilisers · 100% evidence confidence
Madhya Bharat Agro Products Ltd scores 49.0 out of 100 against the 15 companies it is compared with in Fertilisers, ranking 9. Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -59.5% and the one-year return is -67.9%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
The four contributions add to the total exactly: 24.7 + 13.3 + 4.9 + 6.1 = 49. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Madhya Bharat Agro Products Ltd reported ₹416 Cr of revenue in the Jun 26 quarter, +1.5% year on year. That is the 7th straight quarter of year-on-year growth. Over 10 years it has compounded at 39.9% a year. The last full year, FY26, came in at ₹1,867 Cr. The last four reported quarters add to ₹1,873 Cr.
Madhya Bharat Agro Products Ltd reported ₹416 Cr of revenue in the Jun 26 quarter, +1.5% year on year. That is the 7th straight quarter of year-on-year growth. Over 10 years it has compounded at 39.9% a year. The last full year, FY26, came in at ₹1,867 Cr. The last four reported quarters add to ₹1,873 Cr.
FY26 revenue came in at ₹1,867 Cr (+76.5% on the year), capping 10 years at 39.9% compound. The latest quarter (Jun 26) printed ₹416 Cr, +1.5% year on year — the 7th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +53.0% growth against the decade's 39.9% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +47.6% over the last 4 quarters against +46.9%/yr over the last 8 — stabilising; TTM profit +109.5% vs +135.3%/yr — rolling over.
→ Revenue grew — did margins hold as it scaled? Next: 16.0% this quarter (+2.0 pp YoY).
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Madhya Bharat Agro Products Ltd's operating margin is 16.0% in the Jun 26 quarter, +2.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 10.0% to 28.0%. The current quarter sits inside that band.
Madhya Bharat Agro Products Ltd's operating margin is 16.0% in the Jun 26 quarter, +2.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 10.0% to 28.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 16.0%, +2.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 10.0%–28.0%.
Why the margin moved: operating margin went +1.9 pp year on year while gross margin went +5.2 pp — the gain came mostly from the gross line: input costs and pricing.
→ Margins held — did that reach the bottom line? Next: profit +17.9% in the latest quarter.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Madhya Bharat Agro Products Ltd earned ₹33.0 Cr of net profit in the Jun 26 quarter, +17.9% year on year. It is the 7th consecutive quarter of growth. Full-year FY26 profit was ₹150 Cr. The 10-year compound rate is 32.5%. That is 7.9% of the quarter's revenue. The same quarter a year earlier earned ₹28.0 Cr.
Madhya Bharat Agro Products Ltd earned ₹33.0 Cr of net profit in the Jun 26 quarter, +17.9% year on year. It is the 7th consecutive quarter of growth. Full-year FY26 profit was ₹150 Cr. The 10-year compound rate is 32.5%. That is 7.9% of the quarter's revenue. The same quarter a year earlier earned ₹28.0 Cr.
Jun 26 profit was ₹33.0 Cr, +17.9% year on year — the 7th consecutive quarter of growth. On the full year, FY26 printed ₹150 Cr (+163.2%), and the 10-year compound rate is 32.5%.
Why profit moved: revenue contributed +1.5% and the margin +2.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.
Pace comparison, last four quarters: profit +134.7% vs revenue +53.0%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.
→ Profit rose — but did the cash follow? Next: 50% of the last 3 years' profit arrived as cash.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 50% of Madhya Bharat Agro Products Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹−127 Cr of operating cash against ₹150 Cr of profit. After ₹397 Cr of capital spending, ₹−524 Cr was left as free cash.
FY26: operating cash of ₹−127 Cr against reported profit of ₹150 Cr, leaving free cash of ₹−524 Cr after ₹397 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 50% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
🚨 Why conversion sits at 50%: the cash cycle tightened 37 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner. Less than 70% of profit arriving as cash is the thing to watch on this page.
Router verdict: the bigger cash user is investment — capital spending ran 6.1× depreciation over three years, so the next section's job is to check what that build-out is buying.
→ So follow the cash to where it goes. Next: ₹610 Cr of building over 3 years.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Madhya Bharat Agro Products Ltd's cash conversion cycle runs 144 days in FY26, down from 181 days in FY21. Capital spending ran ₹610 Cr over the last 3 years. At FY26 sales of ₹1,867 Cr each day of that cycle holds about ₹5.1 Cr, so roughly ₹737 Cr sits inside the business at any moment.
FY26: debtors at 83 days, inventory at 96 days — roughly 3.2 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 144 days, tighter than FY21's 181.
The full loop: cash goes out to suppliers and production on day 0; stock waits 96 days to sell; customers pay about 83 days after that; and suppliers themselves are paid at 36 days — netting out to the 144-day cycle.
In money terms: at FY26 sales of ₹1,867 Cr, each day of the cycle holds about ₹5.1 Cr — so the 144-day loop keeps roughly ₹737 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹610 Cr over the last 3 fiscal years against ₹100 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹277 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
→ Does all this activity actually earn its cost of capital? Next: ROCE is 19% and the ROIC − WACC spread is +1.3 pp.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
Madhya Bharat Agro Products Ltd earns a ROCE of 19% in FY26. That is up from a trough of 9% in FY16. Return on invested capital clears the cost of that capital by +1.3 percentage points, so growth here adds value rather than only size. The wiring behind it is 8.0% net margin on 1.11× asset turns.
FY26 ROCE is 19%, recovered from a FY16 trough of 9% — the full ladder below shows the fall and the climb, undoctored.
Why the return is what it is — the wiring (FY26): 8.0% net margin × 1.11× asset turns × 3.06× balance-sheet leverage ≈ 27.2% on equity. Margin does its share; leverage is a meaningful part of the equation.
The capstone test — ROIC − WACC: 13.3% − 12.0% = a +1.3 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Positive but thin — value creation with little room for error.
→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 1.56.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.
Madhya Bharat Agro Products Ltd carries total debt of ₹861 Cr against shareholder equity of ₹550 Cr as of Jun 26, a debt-to-equity of 1.57. On the annual view that ratio went from 0.80 in FY22 to 1.57 in FY26. Read the returns elsewhere on this page with that leverage in mind.
Jun 26: total debt of ₹861 Cr against shareholder equity of ₹550 Cr — a debt-to-equity of 1.57. On the annual view, debt-to-equity went from 0.80 (FY22) to 1.57 (FY26). Read the returns on this page with that leverage in mind.
→ Who owns this, and are they adding or leaving? Next: the register is quiet.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
No holder of Madhya Bharat Agro Products Ltd moved a full percentage point over the last two years — the register is quiet. Promoters moved +0.3 points over the same window, to 74.8%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Foreign institutions: +0.7 points over 8 quarters to 0.7%; Promoters: +0.3 points over 8 quarters to 74.8%; Domestic institutions: +0.0 points over 8 quarters to 0.0%.
→ One last check: does the safety math agree? Next: the balance-sheet safety line.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Madhya Bharat Agro Products Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
| Company | P/E | Mkt cap | Revenue | EPS | ROCE | Stage |
|---|---|---|---|---|---|---|
| Madhya Bharat Agro Products Ltd this page | 41.9× | ₹6,495 Cr | Mixed | |||
| Coromandel International Ltd | 31.3× | ₹58,437 Cr | Deteriorating | |||
| Fertilizers & Chemicals Travancore Ltd | 3,536.0× | ₹52,368 Cr | No read | |||
| Deepak Fertilisers & Petrochemicals Corp Ltd | 26.9× | ₹19,860 Cr | Mixed | |||
| Chambal Fertilisers & Chemicals Ltd | 8.8× | ₹17,268 Cr | Mixed | |||
| Paradeep Phosphates Ltd | 13.8× | ₹14,126 Cr | Mixed | |||
| Gujarat Narmada Valley Fertilizers & Chemicals Ltd | 9.2× | ₹7,392 Cr | Mixed | |||
| Rashtriya Chemicals & Fertilizers Ltd | 17.3× | ₹6,853 Cr | Improving | |||
| Gujarat State Fertilizers & Chemicals Ltd | 9.2× | ₹6,159 Cr | Mixed | |||
| Krishana Phoschem Ltd | 25.5× | ₹5,010 Cr | Mixed | |||
| National Fertilizer Ltd | 16.3× | ₹3,449 Cr | No read | |||
| Southern Petrochemicals Industries Corporation Ltd | 6.3× | ₹1,322 Cr | Improving | |||
| Madras Fertilizers Ltd | 12.3× | ₹1,069 Cr | No read | |||
| Zuari Agro Chemicals Ltd | 3.1× | ₹925 Cr | Mixed | |||
| Khaitan Chemicals & Fertilizers Ltd | 8.2× | ₹475 Cr | No read |
Frequently asked questions
What is Madhya Bharat Agro Products Ltd's share price today?
Madhya Bharat Agro Products Ltd trades at ₹136, −67.9% over the past year. The company is valued at ₹6,495 Cr. The stock sits at 6% of its 52-week range of ₹106–₹593, +39.2% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 78 weeks in. — as of 24 July 2026.
What were Madhya Bharat Agro Products Ltd's latest quarterly results?
Madhya Bharat Agro Products Ltd reported revenue of ₹416 Cr and net profit of ₹33.0 Cr for the Jun 26 quarter. Revenue rose 1.5% and profit rose 17.9% year on year. Earnings per share were ₹0.75. The operating margin was 16.0%, 2.0 pp higher than a year earlier. — as of 24 July 2026.
What is Madhya Bharat Agro Products Ltd's revenue?
Madhya Bharat Agro Products Ltd reported revenue of ₹416 Cr in the Jun 26 quarter, +1.5% year on year. For the full FY26 fiscal year, revenue was ₹1,867 Cr (+76.5%). Over the last 10 years revenue compounded at 39.9% a year. — as of 24 July 2026.
What is Madhya Bharat Agro Products Ltd's profit?
Madhya Bharat Agro Products Ltd earned ₹33.0 Cr of net profit in the Jun 26 quarter, +17.9% year on year — the 7th straight quarter of growth. Full-year FY26 profit was ₹150 Cr. The operating margin ran 16.0% in the latest quarter. — as of 24 July 2026.
What is Madhya Bharat Agro Products Ltd's market cap?
Madhya Bharat Agro Products Ltd's market capitalisation is ₹6,495 Cr at a share price of ₹136. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.
What is Madhya Bharat Agro Products Ltd's P/E ratio?
Madhya Bharat Agro Products Ltd trades at a P/E of 41.9×, at the 81st percentile of its own 10-year range, against a long-run median of 20.8×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.
Does Madhya Bharat Agro Products Ltd pay a dividend?
Yes — Madhya Bharat Agro Products Ltd's dividend payout was 3% of profit in FY26, and it recorded a payout in 10 of its last 13 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 24 July 2026.
Is Madhya Bharat Agro Products Ltd overvalued?
On its own history, Madhya Bharat Agro Products Ltd looks expensive against its own history: its P/E of 41.9× sits at the 81st percentile of its 10-year range (long-run median 20.8×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 24 July 2026.
Is Madhya Bharat Agro Products Ltd growing?
Yes — Madhya Bharat Agro Products Ltd is growing: latest-quarter revenue +1.5% year on year, profit +17.9%, and the margin +2.0 pp at 16.0%. The 10-year compound rates are 39.9% (revenue) and 32.5% (profit). The earnings engine currently reads: improving — as of 24 July 2026.
How is Madhya Bharat Agro Products Ltd performing?
Madhya Bharat Agro Products Ltd is in a confirmed uptrend, 78 weeks in. Its latest quarter's revenue rose 1.5% and profit rose 17.9% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 3 weeks. This describes what the data did, not a rating. — as of 24 July 2026.
What stage is Madhya Bharat Agro Products Ltd in?
Mixed — growth is normalizing off a hyper-growth base: revenue growth has eased from +76.3% at its peak to +47.6% but is still expanding, ROCE lifting at 33.9%. The read comes from the last 12 quarters of growth (revenue growth +47.6% latest, profit growth +109.5% latest, eps growth +107.6% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 24 July 2026.
Is Madhya Bharat Agro Products Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 78 of stage 2), trading +39.2% versus its 200-day average and at 6% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.
Is Madhya Bharat Agro Products Ltd beating the market?
On recent form, yes — Madhya Bharat Agro Products Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 3 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 9.5 years the stock moved +968% against the NIFTY 500's +215% — ahead of the index over the full window. — as of 24 July 2026.
Will Madhya Bharat Agro Products Ltd's share price go up?
This page publishes no price forecast for Madhya Bharat Agro Products Ltd. What it measures instead: the share price is ₹136, the price is in a confirmed uptrend 78 weeks in. Its P/E of 41.9× sits at the 81st percentile of its own 10-year range. — as of 24 July 2026.
Who owns Madhya Bharat Agro Products Ltd?
Promoters hold 74.8% of Madhya Bharat Agro Products Ltd, foreign institutions 0.7%, domestic institutions 0.0% and the public 24.6% (latest quarter). No holder moved a full point over the last two years — the register is quiet. — as of 24 July 2026.
Does Madhya Bharat Agro Products Ltd have too much debt?
It carries real leverage — Madhya Bharat Agro Products Ltd's debt-to-equity is 1.56, and operating profit covers the interest bill 7×. FY26 borrowings were ₹856 Cr against equity of ₹550 Cr. Read the returns on this page with that leverage in mind — as of 24 July 2026.
What is Madhya Bharat Agro Products Ltd's capex?
Madhya Bharat Agro Products Ltd spent ₹610 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹397 Cr, with ₹277 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.
What is Madhya Bharat Agro Products Ltd's cash flow?
Madhya Bharat Agro Products Ltd generated ₹−127 Cr of operating cash flow in FY26 and ₹−524 Cr of free cash flow after ₹397 Cr of capital spending. Reported profit that year was ₹150 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 24 July 2026.
Is Madhya Bharat Agro Products Ltd's profit real cash?
Not fully — over the last 3 fiscal years, 50% of Madhya Bharat Agro Products Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹−127 Cr against reported profit of ₹150 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 24 July 2026.
Where is Madhya Bharat Agro Products Ltd in its business cycle?
Madhya Bharat Agro Products Ltd's FY26 operating margin was 12.0%, against a 13-year band of 10.0%–28.0%: the low end of its own band, which is where recoveries start when they come. The latest quarter ran 16.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.
What could break the Madhya Bharat Agro Products Ltd story?
The sharpest disagreement: profits are rising, but only 50% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.
Is Madhya Bharat Agro Products Ltd a stock worth studying right now?
This is not investment advice. The machine read: Madhya Bharat Agro Products Ltd's earnings have outrun its stock. EPS grew +161.8% in a year against a −67.9% price move. The sharpest open question: whether the cash starts following the profit. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.