# Bhageria Industries share price today (Bhageria Industries Ltd, NSE: BHAGERIA)

> Bhageria Industries share price today: ₹354.35 at the NSE close on 4 November 2026, up 69.2% in a year. Bhageria Industries (NSE: BHAGERIA) is worth ₹1,549 crore, trades at a P/E of 13.7 and has closed between ₹134.05 and ₹393.90 over the past 52 weeks. > Bhageria Industries Ltd's results are improving, while its P/E is near the low end of its own history over 6.3 years, higher than only 25% of past readings. BHAGERIA · Dyes & Pigments · data as of 4 November 2026. Page: https://www.sectoralpha.in/stocks/bhageria-industries-ltd

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## Key numbers

- Business trend: Mixed, from fewer quarters than usual
- Price: ₹354.35 (+69.2% in a year)
- P/E: 13.7× (lower than 75% of the last 6.3 years)
- Revenue (Sep 2026): ₹456 Cr (+123.5% on a year ago)
- Profit (Sep 2026): ₹56.0 Cr (+409.1% on a year ago)
- Operating margin: 19.0% (+8.0 points on a year ago)
- ROCE: 9%, FY26
- Profit that came in as cash: 168%, last 3 years

The main question: the share price moved +69.2% in a year while yearly earnings per share moved +14.0%. The difference came from the market paying a higher multiple. ## What is the Bhageria Industries share price today? Bhageria Industries Ltd's share price was ₹354.35 at the close on 4 November 2026. It has been rising for 20 weeks. That is 45.4% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹134 and ₹394, and at that close it sat 85% of the way up from that low. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 12 weeks in a row. Over the last 11 years the share price moved +1,204% while the NIFTY 500 moved +251%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Bhageria Industries this quarter? Three changes stood out: revenue up on a year earlier for 12 quarters in a row (every quarter we can compare), best operating margin in 16 quarters and highest quarterly profit in 16 quarters. 1. Revenue up on a year earlier for 12 quarters in a row (every quarter we can compare) In the September 2026 quarter revenue was ₹456 crore, +123.5% on a year earlier. 2. Best operating margin in 16 quarters Operating margin was 19% in the September 2026 quarter, against 11% a year earlier. 3. Highest quarterly profit in 16 quarters Profit of ₹56 crore in the September 2026 quarter is the highest of the last 16 quarters. ## What are Bhageria Industries' latest quarterly results? For July to September 2026 (the quarter ended 30 September 2026), Bhageria Industries reported revenue of ₹456 crore, up 123.5% from ₹204 crore a year earlier, and a profit of ₹56.0 crore, up 409.1% from ₹11.0 crore. ### Bhageria Industries results: July to September 2026 against a year earlier

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹456 crore | ₹204 crore | +123.5% |
| Profit | ₹56.0 crore | ₹11.0 crore | +409.1% |
| Earnings per share | ₹12.81 | ₹2.70 | +374.4% |
| Operating margin | 19.0% | 11.0% | +8.0 points |

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). The newest call in our records is from 28 October 2025, about July to September 2025; a call about these results is not in our records yet. (From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.)

## What is the Bhageria Industries share price history? Bhageria Industries closed at ₹354.35 on 4 November 2026, up 69.2% from ₹209.40 a year earlier (7 November 2025) and up 35.3% over five years. Its highest weekly close since March 2016 was ₹393.90 on 25 September 2026. ### Bhageria Industries share price: then and now

| When | Close | Change to 4 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 30 Oct 2026 | ₹362.35 | −2.2% |
| 1 month ago · 1 Oct 2026 | ₹383.00 | −7.5% |
| 6 months ago · 8 May 2026 | ₹166.48 | +112.8% |
| 1 year ago · 7 Nov 2025 | ₹209.40 | +69.2% |
| 3 years ago · 3 Nov 2023 | ₹151.20 | +134.4% |
| 5 years ago · 4 Nov 2021 | ₹261.85 | +35.3% |
| 10 years ago · 4 Nov 2016 | ₹185.85 | +90.7% |
| Earliest and lowest weekly close in our records · 11 Mar 2016 | ₹27.17 | +1,204.2% |
| Highest weekly close since March 2016, also the 52-week high · 25 Sep 2026 | ₹393.90 | −10.0% |
| 52-week low (weekly close) · 27 Mar 2026 | ₹134.05 | +164.3% |

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (564 weekly closes from 11 March 2016 to 4 November 2026.)

## What is the latest news on Bhageria Industries? 4 Nov 2026: Bhageria Industries closed at ₹354.35, down 2.2% on the week and down 7.5% on the month. Results for July to September 2026: Revenue up 123.5% and profit up 409.1% on a year earlier. ### Earlier

- 24 Jul 2026: ex-date for a dividend of ₹2.50 a share. - Our read, 19 Jul 2026: Bhageria is increasing chemical volume and spending on new product lines, but margins remain below the prior operating level and the evidence for a turn is incomplete. - 28 Oct 2025: Bhageria Industries held its results call for July to September 2025. Management guided: FY26 total revenue from the chemical segment is expected to be between Rs "725" to "775" crores. ### Our read of the business

Reported revenue has expanded while operating margin declined, so volume is not yet converting into proportional profit. Capacity additions and renewable power can improve the economics, but their contribution has not been separately reported. Latest quarter: Revenue expanded while operating margin remained below the earlier management band. (Our read after the latest results, written 19 July 2026.)

## What dividend does Bhageria Industries pay? Bhageria Industries paid ₹2.50 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.71% at the ₹354.35 close on 4 November 2026. The last was a dividend of ₹2.50 a share, ex-date 24 July 2026. ### Bhageria Industries dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 24 Jul 2026 | ₹2.50 | Dividend |
| 25 Jul 2025 | ₹1.50 | Dividend |
| 23 Aug 2024 | ₹1 | Dividend |
| 1 Sep 2023 | ₹1 | Dividend |
| 21 Jul 2022 | ₹4 | Dividend |
| 22 Jul 2021 | ₹3.50 | Dividend |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here. 5 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. Bhageria Industries Ltd paid out 24% of its profit as dividends in FY26, and it paid a dividend in each of its last 7 reported years. (From the NSE corporate-actions record, read 5 November 2026.)

## What did Bhageria Industries management say on the latest results call? On the call for July to September 2025, held on 28 October 2025, Bhageria Industries' management guided: FY26 total revenue from the chemical segment is expected to be between Rs "725" to "775" crores. > “With the plant already operating at about 95% utilization, the incremental capacity is expected to generate 50 to 65 crores additional revenue at the present price once fully operational”
> Management, on the call for July to September 2025

### What management guided

- Margins are expected to improve to "13%"-"14%" in the coming quarters (Q3/January to March 2026), primarily driven by the full commercialization of new capacities and focus on higher-margin export markets. - Export volumes are expected to continue showing a healthy trend and are a higher-margin business, potentially increasing dye intermediate margins by about "2%"-"3%". - The company expects January to March 2026 demand for key products to be much better, with good demand forecasted for November and December. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijorifinance.com/insight/india/3409/Conference Call/CC-Oct25.pdf). (From the call for July to September 2025, 28 October 2025. The July to September 2026 results are out since, so this part may be out of date until we update it.)

## What could change the Bhageria Industries story? What are the risks? The thesis improves if reported margins recover while the new assets move from construction into revenue without a further rise in leverage. It fails if revenue continues to grow but margin remains depressed after capacity additions have had time to contribute. ### Each change stops working if

- : Demand weakens or the expanded line does not add reported chemical revenue. - : The new lines do not generate visible contribution while capital remains tied up. - : The cash cycle reverses while operating cash weakens and construction spending continues. ### The main risks

- : Margin recovery did not meet the earlier management expectation. ⚠ estimate
- : Construction spending and borrowings have risen before the new assets have disclosed returns. ⚠ estimate
- : China and sulphuric-acid commentary was internally inconsistent. ✓ fact

(Our read after the latest results, written 19 July 2026.)

## What to watch in Bhageria Industries' next results? When Bhageria Industries reports October to December 2026, these are the 4 checks that show whether the story is still on course. First: Another reported quarter with low operating margin despite new capacity contribution. - What to check ()
- Another reported quarter with low operating margin despite new capacity contribution. - No gross-margin and operating-margin improvement across the next reporting periods. - Construction remains elevated while borrowings rise and the company does not disclose contribution from new assets. - Further changes in explanation for raw-material pass-through, Chinese supply or integration economics. ## Which stock lists is Bhageria Industries on? Bhageria Industries is on one of our India lists: Momentum stocks. [Momentum stocks Market cap cr: 1546.645606290523](https://www.sectoralpha.in/momentum-stocks-india)

## Is Bhageria Industries profitable? Bhageria Industries Ltd earned ₹56.0 Cr of net profit in the Sep 2026 quarter, +409.1% on the same quarter a year earlier. That is the 2nd quarter in a row of profit growth. Full-year FY26 profit was ₹44.0 Cr. Over 6 years profit has grown −6.5% a year on average. That is 12.3% of the quarter's revenue. The same quarter a year earlier earned ₹11.0 Cr. For the full year, FY26 profit was ₹44.0 Cr (+12.8% on the year before). Why profit moved: revenue changed +123.5% on a year earlier and the margin moved +8.0 percentage points. Most of the change came from keeping more of each sale. On average over the last four quarters, profit changed +147.9% and revenue +74.0%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. FY27-Q1. revenue ₹286 Cr and profit ₹34 Cr as reported. FY27-Q2. revenue ₹456 Cr and profit ₹56 Cr as reported. Why-sources: our stock research file (19 July 2026) and the company’s own results for those quarters. ## How much revenue does Bhageria Industries make, and is it growing? Bhageria Industries Ltd reported ₹456 Cr of revenue in the Sep 2026 quarter, +123.5% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 6 years it has grown 13.3% a year on average. The last full year, FY26, came in at ₹874 Cr. The last four reported quarters add to ₹1,255 Cr. FY26 revenue was ₹874 Cr, +46.9% on the year before. Recent pace: the last four quarters grew +74.0% on average, against 13.3% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +75.8%, against +53.0% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +133.3%, against +107.5% a year (accelerating). FY27-Q1. revenue ₹286 Cr and profit ₹34 Cr as reported. FY27-Q2. revenue ₹456 Cr and profit ₹56 Cr as reported. Why-sources: our stock research file (19 July 2026) and the company’s own results for those quarters. ## How much of every ₹100 of sales does Bhageria Industries keep? Bhageria Industries Ltd's operating margin was 19.0% in the Sep 2026 quarter, 8.0 percentage points higher than the same quarter a year ago. Across 7 years it has been between 9.0% and 26.0%. The latest quarter is within that range. Why this happened. Management identified existing-infrastructure leverage in plasticizers and manufacturing-cost reduction from solar. Both are forward operating levers rather than delivered earnings evidence. Why the margin moved: operating margin changed +7.3 percentage points on the year while gross margin changed +0.1 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales. FY27-Q1. revenue ₹286 Cr and profit ₹34 Cr as reported. FY27-Q2. revenue ₹456 Cr and profit ₹56 Cr as reported. Why-sources: our stock research file (19 July 2026) and the company’s own results for those quarters. ## Is Bhageria Industries' profit turning into cash? Over the last 3 years, 168% of Bhageria Industries Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹99.0 Cr of operating cash against ₹44.0 Cr of profit. Why this happened. Receivables and inventory days fell in the latest year, supporting operating cash conversion despite higher sales. This does not remove execution risk because cash is being reinvested in assets. After ₹173 Cr of spending on assets, free cash was −₹74.0 Cr: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 168% of profit came in as cash: the cash cycle got 32 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner. What to look at next: the bigger use of cash is spending on new assets, at 2.3× depreciation over three years. The next section checks what that spending is building. ## Where does Bhageria Industries' cash go? Bhageria Industries Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 56 days in FY26, down from 88 days in FY21. It spent ₹224 Cr on assets over the last 3 years. Customers take 66 days to pay, and stock sits for 32 days on average. Why this happened. The existing plant was described as close to full use and management gave an incremental-revenue estimate for the expanded line. The driver needs demand to remain firm and the extra capacity to reach commercial output. At FY26 sales of ₹874 Cr, each day of that cycle ties up about ₹2.4 Cr, so roughly ₹134 Cr is tied up in the business at any time. FY26: customers took 66 days to pay and stock sat for 32 days, about 1.1 months of sales sitting as stock, for a full cycle of 56 days, shorter than FY21's 88. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 32 days. Customers pay about 66 days after that. Suppliers are paid at 43 days. Together that makes the 56-day cycle. Spending on assets: ₹224 Cr over the last 3 years, against ₹96.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹117 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Bhageria Industries' P/E ratio, and how does it compare with its own history? Bhageria Industries Ltd's P/E is 13.7×, near the low end of its own history: it has been lower only 25% of the time. Its usual P/E (the middle reading) is 20.1×, over 6.3 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved +14.0% while the price moved +69.2%. The price did better than earnings, which pushed the multiple up within its own range. Where the price move came from: over 5 years the price moved +6.2% a year; about +10.4% a year came from earnings growth and about −4.2 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple. A quarterly PEG curve, which only the second data source has, is not shown on this page: its two data sources disagree by up to 5.9% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## What growth does the Bhageria Industries share price assume? Worked out from its price on 20 July 2026, Bhageria Industries Ltd's share price assumed profit growth of about 14.2% a year. Over the past 6 years its profit actually grew −6.5% a year. Today its P/E is 13.7×, lower than 75% of its own last 6.3 years. This is a one-day reading, taken on 20 July 2026. Every other number on this page, the multiple included, uses the latest price as of 4 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements. ## Is the Bhageria Industries business getting better or worse? Bhageria Industries Ltd's business is giving mixed signals. Growth has been steadily positive, but ROCE at 9.0% is below the 15% level needed to call it steady growth. This is based on 9 quarters of 4 measures, with some gaps. Why it matters: when the lines disagree, each line above matters more than any single label. The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone. This reading has some gaps: at least one line is short, or the return line is not the quarterly series, so treat it with a little more caution. ## What is the Bhageria Industries story, and has it been checked? Bhageria Industries Ltd's story is not scored yet against the checks our research set on 19 July 2026. Where it sits in its own cycle: Not stated in the research file. Our read, 19 July 2026. Bhageria is increasing chemical volume and spending on new product lines, but margins remain below the prior operating level and the evidence for a turn is incomplete. What is proven. Bhageria is increasing chemical volume and spending on new product lines, but margins remain below the prior operating level and the evidence for a turn is incomplete. What is not proven yet. The thesis improves if reported margins recover while the new assets move from construction into revenue without a further rise in leverage. It fails if revenue continues to grow but margin remains depressed after capacity additions have had time to contribute. What would change our mind. The thesis improves if reported margins recover while the new assets move from construction into revenue without a further rise in leverage. It fails if revenue continues to grow but margin remains depressed after capacity additions have had time to contribute. The test written in advance. The thesis improves if reported margins recover while the new assets move from construction into revenue without a further rise in leverage. It fails if revenue continues to grow but margin remains depressed after capacity additions have had time to contribute. Measured by: the thesis as written as stated by the next result. What the company does. Reported revenue has expanded while operating margin declined, so volume is not yet converting into proportional profit. Capacity additions and renewable power can improve the economics, but their contribution has not been separately reported. What the surface reading misses. The surface reading is: Annual sales and profit increased. The research reads it further: Revenue grew faster than operating profit, so the recovery is volume-led and margin constrained. What the surface reading misses. The surface reading is: The company reported rapid sales growth. The research reads it further: The gap between sales growth and profit growth identifies margin as the dominant constraint on the annual earnings result. Sources: our stock research file (19 July 2026) · quarterly results through Sep 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did Bhageria Industries management deliver what it promised? What Bhageria Industries Ltd's management promised, against what actually happened: 2 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met. Sulphuric Acid Backward Integration Model · 28 October 2025. Management provided contradictory explanations of its sulphuric acid operations within the October 2025 call. Earlier call (Oct 2025): “40% of our sulphuric acid requirement is through the in-house plant only. Yeah. 40% in-house and 60% is bought from outside.” Later call (Oct 2025): “Capacity is around 10,000 tons cumulative equivalent to sulphuric acid, and we are consuming around 2,500 to 3,000 tons a month. So the balance 7,000 tons we are selling in the open market.”

Competitive Threat Assessment from China · 28 October 2025. During the October 2025 call, management first dismissed any competitive threat from China, stating there was none 'at least for now'. However, later in the Q&A, they cited the recent cessation of Chinese 'dumping' as a primary reason to expect future margin improvement, directly contradicting the earlier assessment of China's market impact. Earlier call (Oct 2025): “No, we don”. Later call (Oct 2025): “And China was really dumping in the last two or three years, but now they have stopped it. So we expect better margins going forward.”

Every quote above is taken word for word from the company’s own earnings calls. ## How much does Bhageria Industries earn on its capital? Bhageria Industries Ltd earned a ROCE of 9% in FY26. That is up from a low of 4% in FY23. We cannot compare its return on capital used with its cost of capital from the data we have. It comes from a 5.0% net margin and 1.02× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 5.0% net margin × 1.02× asset turnover × 1.44× leverage (assets divided by equity) ≈ 7.3% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed. The quarterly return lines and the return-on-capital-used (ROIC) line, which only the second data source has, are not shown on this page: its two data sources disagree by up to 5.9% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## Does Bhageria Industries have too much debt? Bhageria Industries Ltd had ₹109 Cr of borrowings against ₹597 Cr of equity in FY26, so its debt is 0.18× its equity. Its operating profit is 30 times its interest bill. Over 5 years borrowings went from ₹31.0 Cr to ₹109 Cr. Over the last 3 of those years it spent ₹224 Cr on assets. Part of the spending on assets is being paid for with borrowed money. The total-debt and debt-to-equity series, which only the second data source has, are not shown on this page: its two data sources disagree by up to 5.9% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## What is the Bhageria Industries shareholding pattern? No group of Bhageria Industries Ltd's owners changed its stake by a full percentage point over the last two years. Promoters moved +0.1 points over the same period, to 71.9%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Foreign institutions: +0.3 points over 8 quarters, to 0.5%; Promoters: +0.1 points over 8 quarters, to 71.9%. ## How far is Bhageria Industries from balance-sheet trouble? For Bhageria Industries Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Bhageria Industries rank in its industry? 69.7 out of 100, rank 1 of 10 in Dyes & Pigments, with 82% of the evidence available. Bhageria Industries Ltd scores 69.7 out of 100 against the 10 companies it is compared with in Dyes & Pigments, ranking 1. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 28.5 + 14.3 + 9.2 + 17.7 = 69.7. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Bhageria Industries compared with? Bhageria Industries ranks 1 of 10 Dyes & Pigments companies on the 4-Factor Sector Score, with 69.7 out of 100. 1. Bhageria Industries Ltd this page BHAGERIA · leader · Most evidence points up · 82% evidence 69.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 28.5/35 · Revenue 75.8% · Profit 100% · Operating margin change 8 points · 95% evidence Capital efficiency 14.3/25 · ROCE 9.4% · Operating margin 19% · 76% evidence Valuation 9.2/20 · P/E 14× · PEG n/a · 50% evidence Relative strength 17.7/20 · Lead over its industry 45.6% · Lead over NIFTY 500 79% · 1 year 61.8% · 100% evidence · 12 of 12 weeks ahead Exact sum: 28.5 + 14.3 + 9.2 + 17.7 = 69.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [Bodal Chemicals Ltd](https://www.sectoralpha.in/stocks/bodal-chemicals-ltd) BODALCHEM · breaking out · Most evidence points up · 89% evidence 68.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.5/35 · Revenue 27.6% · Profit 100% · Operating margin change 0 points · 88% evidence Capital efficiency 10.1/25 · ROCE 5.6% · Operating margin 10% · 100% evidence Valuation 14.3/20 · P/E 30.2× · PEG 0.39 · 65% evidence Relative strength 20.0/20 · Lead over its industry 79.6% · Lead over NIFTY 500 114.4% · 1 year 168.5% · 100% evidence · 10 of 12 weeks ahead Exact sum: 24.5 + 10.1 + 14.3 + 20 = 68.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Atul Ltd](https://www.sectoralpha.in/stocks/atul-ltd) ATUL · quiet · Evidence leans up · 100% evidence 57.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.8/35 · Revenue 18.1% · Profit 40.5% · Operating margin change -4 points · 100% evidence Capital efficiency 19.3/25 · ROCE 14.9% · Operating margin 13% · 100% evidence Valuation 16.2/20 · P/E 19.2× · PEG 0.47 · 100% evidence Relative strength 0.0/20 · Lead over its industry -35.1% · Lead over NIFTY 500 -16.5% · 1 year -12.7% · 100% evidence · 0 of 12 weeks ahead Exact sum: 21.8 + 19.3 + 16.2 + 0 = 57.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [Vidhi Specialty Food Ingredients Ltd](https://www.sectoralpha.in/stocks/vidhi-specialty-food-ingredients-ltd) VIDHIING · losing its lead · Evidence leans up · 85% evidence 55.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 18.8/35 · Revenue 34.4% · Profit 22.4% · Operating margin change -5 points · 100% evidence Capital efficiency 21.8/25 · ROCE 18.8% · Operating margin 19% · 100% evidence Valuation 5.3/20 · P/E 25.5× · PEG 2.77 · 100% evidence Relative strength 9.3/20 · Lead over its industry n/a · Lead over NIFTY 500 1.3% · 1 year -9% · 25% evidence · 10 of 12 weeks ahead Exact sum: 18.8 + 21.8 + 5.3 + 9.3 = 55.2 · What this means: A strong business with a high valuation: it would need rising earnings, or a lower multiple, to score better on value. 5. [Ultramarine & Pigments Ltd](https://www.sectoralpha.in/stocks/ultramarine-pigments-ltd) ULTRAMAR · quiet · Evidence leans up · 81% evidence 53.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.5/35 · Revenue 15.6% · Profit 16.5% · Operating margin change 2 points · 88% evidence Capital efficiency 15.6/25 · ROCE 10.8% · Operating margin 19% · 100% evidence Valuation 9.6/20 · P/E 11.4× · PEG 2.42 · 100% evidence Relative strength 7.9/20 · Lead over its industry n/a · Lead over NIFTY 500 -10.2% · 1 year -22.3% · 25% evidence · 7 of 12 weeks ahead Exact sum: 20.5 + 15.6 + 9.6 + 7.9 = 53.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Kiri Industries Ltd](https://www.sectoralpha.in/stocks/kiri-industries-ltd) KIRIINDUS · breaking out · Evidence leans down · 71% evidence 49.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.7/35 · Revenue 25% · Profit 100% · Operating margin change 13 points · 83% evidence Capital efficiency 5.3/25 · ROCE 3.4% · Operating margin 5% · 76% evidence Valuation 11.5/20 · P/E 4.4× · PEG n/a · 15% evidence Relative strength 12.3/20 · Lead over its industry -4.7% · Lead over NIFTY 500 21.4% · 1 year 1% · 100% evidence · 11 of 12 weeks ahead Exact sum: 20.7 + 5.3 + 11.5 + 12.3 = 49.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Sudarshan Colorants India Ltd](https://www.sectoralpha.in/stocks/sudarshan-colorants-india-ltd) SUDARCOLOR · turning · Evidence leans down · 100% evidence 47.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 11.2/35 · Revenue 6.3% · Profit -9.8% · Operating margin change 3 points · 100% evidence Capital efficiency 11.9/25 · ROCE 11.4% · Operating margin 13% · 100% evidence Valuation 17.6/20 · P/E 14.5× · PEG 0.47 · 100% evidence Relative strength 6.7/20 · Lead over its industry -20.5% · Lead over NIFTY 500 2% · 1 year -28.3% · 100% evidence · 6 of 12 weeks ahead Exact sum: 11.2 + 11.9 + 17.6 + 6.7 = 47.4 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 8. [Sudarshan Chemical Industries Ltd](https://www.sectoralpha.in/stocks/sudarshan-chemical-industries-ltd) SUDARSCHEM · breaking out · Evidence leans down · 81% evidence 44.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 18.6/35 · Revenue 90.2% · Profit 2.3% · Operating margin change 2 points · 88% evidence Capital efficiency 8.4/25 · ROCE 5.5% · Operating margin 10% · 100% evidence Valuation 6.4/20 · P/E 78.1× · PEG 1.29 · 100% evidence Relative strength 11.1/20 · Lead over its industry n/a · Lead over NIFTY 500 5.5% · 1 year -13.7% · 25% evidence · 12 of 12 weeks ahead Exact sum: 18.6 + 8.4 + 6.4 + 11.1 = 44.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 9. [Sadhana Nitro Chem Ltd](https://www.sectoralpha.in/stocks/sadhana-nitro-chem-ltd) SADHNANIQ · quiet · Most evidence points down · 71% evidence 32.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 12.1/35 · Revenue -24.3% · Profit -80% · Operating margin change 646.8 points · 74% evidence Capital efficiency 4.0/25 · ROCE -11.1% · Operating margin 17.9% · 100% evidence Valuation 10.0/20 · P/E n/a · PEG n/a · 0% evidence Relative strength 6.3/20 · Lead over its industry -16.2% · Lead over NIFTY 500 5% · 1 year 13.1% · 100% evidence · 5 of 12 weeks ahead Exact sum: 12.1 + 4 + 10 + 6.3 = 32.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. [Indokem Ltd](https://www.sectoralpha.in/stocks/indokem-ltd) INDOKEM · breaking out · Most evidence points down · 64% evidence 29.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 6.8/35 · Revenue -4.5% · Profit -57.5% · Operating margin change 0.5 points · 88% evidence Capital efficiency 3.1/25 · ROCE 5.5% · Operating margin 4.8% · 100% evidence Valuation 8.5/20 · P/E 799× · PEG n/a · 15% evidence Relative strength 11.4/20 · Lead over its industry n/a · Lead over NIFTY 500 8.2% · 1 year -7.2% · 25% evidence · 5 of 5 weeks ahead Exact sum: 6.8 + 3.1 + 8.5 + 11.4 = 29.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Dyes & Pigments](https://www.sectoralpha.in/sectors/dyes-pigments), all 10 compared on one page. ## Which companies are close to Bhageria Industries in size? Bhageria Industries is the 6th largest of 10 Dyes & Pigments companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Kiri Industries, Bodal Chemicals and Indokem. Just below it: Vidhi Specialty Food Ingredients, Ultramarine & Pigments and Sudarshan Colorants India. ### Dyes & Pigments companies close in size

1. [Kiri Industries Ltd](https://www.sectoralpha.in/stocks/kiri-industries-ltd) ₹3,513 crore
2. [Bodal Chemicals Ltd](https://www.sectoralpha.in/stocks/bodal-chemicals-ltd) ₹2,072 crore
3. [Indokem Ltd](https://www.sectoralpha.in/stocks/indokem-ltd) ₹1,790 crore
4. Bhageria Industries Ltd ₹1,582 crore
5. [Vidhi Specialty Food Ingredients Ltd](https://www.sectoralpha.in/stocks/vidhi-specialty-food-ingredients-ltd) ₹1,538 crore
6. [Ultramarine & Pigments Ltd](https://www.sectoralpha.in/stocks/ultramarine-pigments-ltd) ₹1,027 crore
7. [Sudarshan Colorants India Ltd](https://www.sectoralpha.in/stocks/sudarshan-colorants-india-ltd) ₹857 crore

[All 10 Dyes & Pigments companies, largest first](https://www.sectoralpha.in/sectors/dyes-pigments#all-companies)

### Companies close in size in other industries

1. [Yuken India Ltd](https://www.sectoralpha.in/stocks/yuken-india-ltd) ₹1,588 crore · Hydraulics
2. [Ruby Mills Ltd](https://www.sectoralpha.in/stocks/ruby-mills-ltd) ₹1,584 crore · Textiles - Composite Mills
3. Bhageria Industries Ltd ₹1,582 crore
4. [La Opala RG Ltd](https://www.sectoralpha.in/stocks/la-opala-rg-ltd) ₹1,568 crore · Opalware
5. [Huhtamaki India Ltd](https://www.sectoralpha.in/stocks/huhtamaki-india-ltd) ₹1,564 crore · Packaging - FMCG/Consumers

## What else do people ask about Bhageria Industries? ### What is Bhageria Industries's share price today? Bhageria Industries Ltd's share price is ₹354.35, +69.2% over the past year. The whole company is worth ₹1,549 Cr on the market. In the last 52 weeks it traded between ₹134 to ₹394; today it is 85% of the way up from the low, 45.4% above its 200-day average (as of 4 November 2026). ### What were Bhageria Industries's latest quarterly results? Bhageria Industries Ltd reported revenue of ₹456 Cr and net profit of ₹56.0 Cr for the Sep 2026 quarter. Revenue rose 123.5% and profit rose 409.1% compared with a year earlier. Earnings per share were ₹12.81. The operating margin was 19.0%, 8.0 percentage points higher than a year earlier (as of 4 November 2026). ### What is Bhageria Industries's market cap? Bhageria Industries Ltd's market capitalisation is ₹1,549 Cr at a share price of ₹354.35. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026). ### How is Bhageria Industries performing? Bhageria Industries Ltd's share price has been rising for 20 weeks. In its latest quarter, revenue rose 123.5% and profit rose 409.1% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 12 weeks running (as of 4 November 2026). ### Will Bhageria Industries's share price go up? This page does not forecast Bhageria Industries Ltd's share price. What it shows instead: the share price is ₹354.35, and it has been rising for 20 weeks. Its P/E of 13.7× is higher than 25% of its own last 6 years (as of 4 November 2026). ### Who owns Bhageria Industries? Promoters own 71.9% of Bhageria Industries Ltd, foreign institutions 0.5%, domestic institutions, and the public 27.7% (latest quarter). No group of owners changed its stake by a full point over the last two years (as of 4 November 2026). ### Where is Bhageria Industries in its business cycle? Bhageria Industries Ltd's FY26 operating margin was 10.0%, against a 7-year range of 9.0% to 26.0%: the low end of its own range, which is often where recoveries start. The latest quarter was 19.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026). ### What could break the Bhageria Industries story? The main question: the share price moved +69.2% in a year while yearly earnings per share moved +14.0%. The difference came from the market paying a higher multiple. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026). ### Is Bhageria Industries a stock worth studying right now? What the numbers show: Bhageria Industries Ltd's results are improving, while its P/E is near the low end of its own history over 6.3 years, higher than only 25% of past readings. The main open question: whether earnings grow into a price that has already moved. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026). ### Is there a Bhageria Industries share price forecast for 2026? What management itself guided: FY26 total revenue from the chemical segment is expected to be between Rs "725" to "775" crores. What would change the story: The thesis improves if reported margins recover while the new assets move from construction into revenue without a further rise in leverage. It fails if revenue continues to grow but margin remains depressed after capacity additions have had time to contribute. ## Lists

- Momentum stocks: https://www.sectoralpha.in/momentum-stocks-india

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