🔍

Bhageria Industries Limited (BHAGERIA)

📊 NSE: BHAGERIA 🏢 Dyes And Pigments 📅 Last Updated: 12/13/2025 19:24

📢 Recent Corporate Announcements

Bhageria Industries Shareholders Approve FY26 Dividend and Re-appointment of Key Directors

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 01 Aug 2026, 06:15 PM

Bhageria Industries concluded its 37th Annual General Meeting on August 1, 2026, with all seven resolutions passed by the requisite majority. Shareholders approved the adoption of FY26 financial statements, which reported a revenue of 874.5 Cr and a PAT of 44.6 Cr. Key leadership continuity was secured through the re-appointment of Suresh Bhageria (Executive Chairman), Vinod Bhageria (Managing Director), and Vikas Bhageria (Jt. Managing Director) for three-year terms. The meeting also confirmed the dividend declaration for the financial year ended March 31, 2026.

All 7 resolutions, including dividend declaration and director re-appointments, passed with requisite majority.
Suresh Bhageria re-appointed as Executive Chairman for a term of 3 years.
Vinod Bhageria re-appointed as Managing Director for a term of 3 years.
Remote e-voting participation from promoters stood at 99.28% for key management resolutions.
FY26 Audited Financial Statements adopted, reflecting TTM revenue of 874.49 Cr.

💡 Investors should monitor the dividend credit timeline and track the execution of the specialty chemical expansion, which is projected to add 50-75 Cr to annual revenue.

Bhageria Industries Shareholders Approve Dividend and 3-Year Management Re-appointments

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 01 Aug 2026, 05:45 PM

Bhageria Industries concluded its 37th Annual General Meeting on August 1, 2026, with shareholders approving all seven resolutions. Key outcomes include the adoption of FY26 financial statements (Revenue: ₹874.48 Cr, PAT: ₹44.61 Cr) and the declaration of a dividend. Crucially, the core leadership team—Suresh Bhageria (Chairman), Vinod Bhageria (MD), and Vikas Bhageria (Jt. MD)—were re-appointed for three-year terms, ensuring management continuity. Voting results showed overwhelming support, with over 99.99% of votes cast in favor of the management re-appointments.

All 7 resolutions passed with requisite majority, including the adoption of FY26 Audited Financial Statements.
Re-appointment of Suresh Bhageria as Executive Director & Chairman for a 3-year term approved.
Re-appointment of Vinod Bhageria as Managing Director for a 3-year term approved.
Re-appointment of Vikas Bhageria as Jt. Managing Director for a 3-year term approved.
Total votes polled represented 71.36% of the total shares held, with 99.99% approval for key management resolutions.

💡 Investors should focus on the execution of the company's strategy to shift toward higher-margin specialty chemicals and pharma intermediates (MCP), which are expected to add ₹50-75 Cr to annual revenue.

SAT Adjourns SEBI Adjudication Appeal to Oct 21, 2026; Stay on Order Continues

🔵 WATCH ⭐ 4/10

LEGAL 📅 30 Jul 2026, 03:20 PM

Bhageria Industries has announced that the Securities Appellate Tribunal (SAT) has adjourned the hearing regarding an appeal filed by its promoters and directors. The appeal challenges a SEBI adjudication order dated March 31, 2023. The matter, which was scheduled for final disposal in late July 2026, has now been rescheduled to October 21, 2026. Importantly, the SEBI order remains stayed until the next hearing date, meaning no immediate penalties or restrictions are currently in effect.

Next hearing for final disposal is scheduled for October 21, 2026.
The underlying SEBI adjudication order dates back to March 31, 2023.
The matter was adjourned from the previous window of July 28 to July 30, 2026.
The SEBI order remains stayed until the next hearing date.
Promoter holding in the company is significant at 71.77% as of March 2026.

💡 Investors should monitor the SAT proceedings on October 21, 2026, to understand the final verdict and any potential impact on the promoters or directors.

Bhageria Industries Q1 FY27 Net Profit Surges 211% YoY to ₹33.91 Cr

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 23 Jul 2026, 12:21 PM

Bhageria Industries reported a robust performance for Q1 FY27, with consolidated revenue growing 84.2% YoY to ₹302.03 Cr. Net profit witnessed a massive jump of 211.7% YoY, reaching ₹33.91 Cr compared to ₹10.88 Cr in the same quarter last year. Sequentially, profits tripled from ₹11.30 Cr in Q4 FY26, indicating a significant expansion in margins. This single quarter's profit represents approximately 75% of the entire TTM profit, signaling a potential structural shift in the business.

Consolidated Revenue for Q1 FY27 reached ₹302.03 Cr, an 84.2% increase from ₹163.97 Cr in Q1 FY26
Net Profit (Consolidated) surged to ₹33.91 Cr, up 211.7% YoY and 200.1% QoQ
Earnings Per Share (EPS) rose significantly to ₹7.83 from ₹2.58 in the year-ago period
Standalone Revenue stood at ₹300.78 Cr, contributing the bulk of the consolidated performance
Total Comprehensive Income for the quarter was ₹34.00 Cr, reflecting strong operational efficiency

💡 Investors should monitor the sustainability of these higher margins to determine if they are driven by the company's stated shift toward specialty chemicals and pharma intermediates (MCP). Watch for management commentary on capacity utilization and the progress of high-value exports to regulatory markets like Japan.

Bhageria Q1 FY27 Revenue Surges 81% YoY to ₹286.5 Cr; PBT Grows 38%

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 22 Jul 2026, 06:59 PM

Bhageria Industries reported a robust performance for Q1 FY27, with consolidated revenue growing 80.8% YoY to ₹286.51 Cr, significantly exceeding the ₹158.48 Cr reported in the same quarter last year. Profit Before Tax (PBT) rose 37.8% YoY to ₹20.97 Cr, driven primarily by a sharp recovery in the Chemicals segment. While the core Chemicals business remains the dominant revenue driver (93% share), the Solar Power segment continues to provide high-margin stability. However, the Pharma segment remains in a gestation phase, reporting a PBIT loss of ₹1.29 Cr for the quarter.

Consolidated revenue from operations grew 80.8% YoY to ₹286.51 Cr from ₹158.48 Cr.
Chemicals segment revenue jumped 84% YoY to ₹267.47 Cr, up from ₹145.11 Cr in Q1 FY26.
Profit Before Tax (PBT) increased 37.3% sequentially to ₹20.97 Cr compared to ₹15.27 Cr in Q4 FY26.
Solar Power segment delivered a high PBIT margin of 47.9% with ₹5.20 Cr profit on ₹10.85 Cr revenue.
Pharma segment reported a loss of ₹1.29 Cr at the PBIT level on revenue of ₹6.54 Cr.

💡 Investors should monitor the margin trajectory in the Chemicals segment and the timeline for the Pharma segment to reach break-even, as the company shifts toward higher-margin specialty molecules.

July 22 Board Meeting Scheduled to Approve Q1 FY27 Financial Results

🟡 NEUTRAL ⭐ 3/10

BOARD_MEETING 📅 16 Jul 2026, 01:14 PM

Bhageria Industries has announced that its Board of Directors will meet on July 22, 2026, to consider and approve the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. This follows a fiscal year where the company achieved a TTM revenue of ₹874 Cr and a PAT of ₹45 Cr. The trading window for insiders has been closed since July 1, 2026, and will remain so until 48 hours after the results are declared. Investors will be looking for consistency after the March 2026 quarter reported a revenue of ₹270.56 Cr.

Board meeting scheduled for July 22, 2026, to review Q1 FY27 performance.
Financial results will cover the three-month period ending June 30, 2026.
Trading window for securities has been closed since July 1, 2026.
Company reported a TTM EPS of ₹10.55 leading up to this period.
Previous quarter (Mar 2026) revenue stood at ₹270.56 Cr with an OPM of 11.3%.

💡 Monitor the official results release on July 22 for updates on the 15-20% growth target and the progress of high-margin specialty chemical exports.

37th AGM Scheduled for August 1, 2026; Bhageria Industries Dispatches Annual Report Links

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 10 Jul 2026, 12:33 PM

Bhageria Industries has scheduled its 37th Annual General Meeting (AGM) for August 1, 2026, at 12:30 P.M. via video conferencing. The company has dispatched letters containing web-links and QR codes for the FY 2025-26 Integrated Annual Report to shareholders whose email addresses are not registered. This is a procedural filing under SEBI Regulation 36(1)(b) to ensure all shareholders have access to the annual report. Investors can now access the full financial disclosures for the year where TTM revenue reached Rs 874 Cr.

37th Annual General Meeting (AGM) to be held on August 1, 2026, at 12:30 P.M.
Cut-off date for dispatching communication to unregistered email holders was July 3, 2026.
Integrated Annual Report for Financial Year 2025-26 is now available via QR code and web-link.
Compliance with SEBI Regulation 36(1)(b) regarding shareholder communication.
Company maintains a high promoter holding of 71.8% as of the latest reporting period.

💡 Investors should access the Integrated Annual Report via the provided link to review management's commentary on the expansion into specialty chemicals and the pharma portfolio (MCP), which is targeted to add Rs 50-75 Cr to annual revenue.

Bhageria Industries Schedules 37th Annual General Meeting for August 1, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 10 Jul 2026, 12:28 PM

Bhageria Industries has formally announced its 37th Annual General Meeting (AGM) to be held on August 1, 2026, at 12:30 p.m. IST. The meeting will be conducted virtually via Video Conferencing (VC) or Other Audio Visual Means (OAVM). This is a routine regulatory filing following the publication of newspaper advertisements in Business Standard and Tarun Bharat. Shareholders will have the opportunity to vote on resolutions via remote e-voting as per standard SEBI guidelines.

37th Annual General Meeting scheduled for August 1, 2026
Meeting to be held at 12:30 p.m. IST through Video Conferencing
Newspaper advertisements published on July 10, 2026, in English and Marathi editions
Remote e-voting details provided in the newspaper publications as per SEBI regulations

💡 Review the upcoming Annual Report for updates on the company's strategy to shift toward higher-margin specialty chemicals and the progress of the pharma portfolio expansion.

Bhageria Industries Reports FY26 Revenue of ₹880.56 Cr; AGM Scheduled for August 1, 2026

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 09 Jul 2026, 04:05 PM

Bhageria Industries has released its Integrated Annual Report for FY 2025-26, reporting a total income of ₹880.56 crore and a PAT of ₹50.30 crore. The company highlighted significant operational progress, including the commissioning of three 7 MW solar power plants (21 MW total) between February and May 2026. The Chemical segment is currently operating at approximately 95% capacity utilization, prompting a strategic shift toward higher-margin specialty chemicals and pharmaceutical intermediates. The 37th Annual General Meeting is set for August 1, 2026, to approve financial statements and dividends.

Total Income for FY 2025-26 stood at ₹880.56 crore with a PAT of ₹50.30 crore
Commissioned 21 MW of solar capacity through three 7 MW plants in Rahuri, Pimpalgaon, and Khanapur in early 2026
EBITDA for the fiscal year reached ₹102.25 crore with a margin of 11.61%
Chemical manufacturing plants are operating at a high utilization rate of 95%
H-Acid capacity expansion from 400 to 500 MT/month is currently under development at the Tarapur plant

💡 Investors should monitor the management's commentary during the August 1 AGM regarding the timeline for the pharmaceutical segment's entry into the Japanese market and the margin impact of the H-Acid capacity expansion.

Bhageria Industries Submits Quarterly Dematerialization Certificate for June 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 09 Jul 2026, 01:17 PM

Bhageria Industries has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The document, issued by MUFG Intime India Private Limited, confirms that all share certificates received for dematerialization during the quarter ended June 30, 2026, were processed. The registrar verified that the securities are listed on the stock exchanges and that physical certificates were mutilated and cancelled as per regulations. This is a standard administrative filing with no impact on business operations or financials.

Compliance certificate issued for the quarter ended June 30, 2026
Registrar MUFG Intime India Private Limited confirmed processing of dematerialization requests
Physical certificates were mutilated and cancelled after due verification
Confirmation that dematerialized securities are listed on relevant stock exchanges

💡 No action is required as this is a routine regulatory filing confirming the integrity of the company's share registry.

Bhageria Industries Sets Aug 1 for 37th AGM; Rs 2.50 Dividend Record Date July 24

🟡 NEUTRAL ⭐ 4/10

DIVIDEND 📅 03 Jul 2026, 01:18 PM

Bhageria Industries has scheduled its 37th Annual General Meeting (AGM) for August 1, 2026. The company has fixed July 24, 2026, as the record date for a recommended dividend of Rs 2.50 per share (50% of face value). Based on the current price of Rs 227, this represents a dividend yield of approximately 1.1%. The dividend, if approved at the AGM, will be paid starting August 6, 2026.

Recommended dividend of Rs 2.50 per equity share of face value Rs 5.00
Record date for dividend eligibility fixed as Friday, July 24, 2026
37th Annual General Meeting scheduled for Saturday, August 1, 2026, at 12:30 PM
Dividend payment to commence on or after August 6, 2026, subject to shareholder approval
Book closure period set from July 25, 2026, to August 1, 2026

💡 Investors interested in the dividend must hold the shares before the ex-dividend date (typically one working day prior to the July 24 record date). Monitor the AGM for management commentary on the expansion into specialty chemicals.

₹2.50 Dividend: Bhageria Industries Sets July 24, 2026, as Record Date

🟡 NEUTRAL ⭐ 5/10

DIVIDEND 📅 03 Jul 2026, 01:15 PM

Bhageria Industries has fixed July 24, 2026, as the record date for its final dividend of ₹2.50 per share for FY26. This dividend represents a 50% payout on the face value of ₹5 and is subject to shareholder approval at the 37th AGM scheduled for August 1, 2026. Based on the current market price of ₹227, the dividend yield stands at approximately 1.1%. The total estimated payout of ~₹10.6 Cr is well-covered by the company's TTM PAT of ₹45 Cr.

Final dividend of ₹2.50 per equity share (50% of face value ₹5) recommended for FY 2025-26.
Record date for determining shareholder eligibility is Friday, July 24, 2026.
37th Annual General Meeting (AGM) to be held via video conferencing on August 1, 2026.
Dividend payment to be processed on or after August 6, 2026, post-shareholder approval.
Dividend payout ratio is approximately 23.7% based on the TTM EPS of ₹10.55.

💡 Investors seeking the dividend must hold shares before the ex-dividend date (typically one session prior to the July 24 record date). Monitor the AGM for management commentary on the specialty chemical expansion and the status of the ₹50-75 Cr incremental revenue target.

₹2.50 Dividend: Bhageria Industries Sets July 24 as Record Date for 37th AGM

🟡 NEUTRAL ⭐ 4/10

DIVIDEND 📅 03 Jul 2026, 01:13 PM

Bhageria Industries has announced its 37th Annual General Meeting (AGM) for August 1, 2026. The company has fixed July 24, 2026, as the record date for a recommended dividend of ₹2.50 per equity share (50% of face value). If approved by shareholders at the AGM, the dividend will be paid starting August 6, 2026. This follows the Board's recommendation made on May 2, 2026.

Dividend of ₹2.50 per equity share of face value ₹5 (50% payout).
Record date for dividend eligibility fixed as Friday, July 24, 2026.
37th Annual General Meeting scheduled for Saturday, August 1, 2026, at 12:30 P.M. IST.
Dividend payment to commence on or after August 6, 2026, post-shareholder approval.
Book closure period set from July 25, 2026, to August 1, 2026.

💡 Investors seeking the dividend must hold shares before the record date of July 24, 2026. Monitor the AGM proceedings for management commentary on the specialty chemical expansion and pharma segment progress.

Bhageria Industries to Close Trading Window from July 1, 2026, for Q1 Results

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 18 Jun 2026, 11:15 AM

Bhageria Industries Limited has announced the closure of its trading window for all designated persons and their immediate relatives starting July 1, 2026. This action is in compliance with SEBI regulations regarding the upcoming declaration of Unaudited Financial Results for the quarter ending June 30, 2026. The trading window will remain closed until 48 hours after the financial results are made public. This is a standard administrative procedure followed by listed companies prior to earnings announcements.

Trading window closure begins on July 1, 2026.
Closure is in anticipation of Unaudited Financial Results for the quarter ended June 30, 2026.
The window will reopen 48 hours after the official result declaration.
Applies to all designated persons and their immediate relatives as per SEBI Insider Trading norms.

💡 No immediate action is required as this is a routine regulatory filing. Investors should look forward to the upcoming Q1 financial results for performance updates.

Bhageria Industries to Transfer Unclaimed Shares to IEPF Starting October 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 10 Jun 2026, 12:23 PM

Bhageria Industries has issued a public notice regarding the mandatory transfer of equity shares to the Investor Education and Protection Fund (IEPF). This applies to shareholders who have not claimed their dividends for seven consecutive years, specifically starting from the final dividend of FY 2018-19. Shareholders have until September 30, 2026, to claim their dividends, failing which the shares will be transferred to the IEPF on or after October 7, 2026. This is a standard regulatory compliance procedure under the Companies Act, 2013.

Shares with unclaimed dividends for 7 consecutive years since FY 2018-19 are eligible for transfer.
The deadline for shareholders to submit a valid claim to the company is September 30, 2026.
Transfer of shares to the IEPF Authority is scheduled to occur on or after October 7, 2026.
Shareholders can still reclaim their shares from the IEPF Authority by filing Form IEPF-5 online.

💡 Long-term shareholders should verify their dividend records and contact Link Intime India if they have any unclaimed dividends to prevent share transfer. For the general market, this is a routine regulatory update with no impact on the company's fundamentals.

View All BHAGERIA Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

The Chemicals segment grew 26.5% YoY to INR 504.31 Cr. The Pharma segment saw explosive growth of 277.7% YoY, reaching INR 8.12 Cr. Solar Power revenue declined 3.7% to INR 27.83 Cr, while 'Others' declined 12.8% to INR 57.23 Cr.

Geographic Revenue Split

Exports contribute a stable and healthy share to total revenue, though the exact percentage split between domestic and international regions is not disclosed in available documents.

Profitability Margins

Gross margins in the pharma regulatory export market are targeted at nearly 200%. Standalone PAT margin improved significantly from 3.96% in FY24 to 7.08% in FY25 due to operational leverage and better realizations in the chemicals segment.

EBITDA Margin

EBITDA margin stood at 15.21% in FY25, a 298 bps improvement from 12.23% in FY24. Core profitability was driven by a 50% increase in EBITDA to INR 90.82 Cr, supported by rising volumes and price stability in dye intermediates.

Capital Expenditure

The company invested significantly in a new pharma plant with advanced instrumentation and labs. Recent incremental capacity expansion is expected to generate INR 50-75 Cr in additional annual revenue once fully operational.

Credit Rating & Borrowing

CARE Ratings reaffirmed the long-term rating at 'CARE A; Stable' and short-term rating at 'CARE A1' for bank facilities totaling INR 91 Cr as of October 2025.

⚙️ Operational Drivers

Raw Materials

Key raw materials include chemicals for dye intermediates and pigments, as well as specific pharmaceutical intermediates like MCP (Monochloroparaffin). Raw materials represent a significant portion of the cost structure, though specific percentage breakdowns per material are not disclosed.

Import Sources

Not specifically disclosed, though the company mentions strengthening supply stability by controlling part of its raw material sourcing and integrating operations in-house.

Capacity Expansion

Current plants are operating at 95% utilization. Planned incremental capacity is expected to add INR 50-75 Cr to annual revenue at current price levels, signaling a shift toward specialty segments.

Raw Material Costs

The company employs a strategy of backward integration and in-house supply operations to mitigate the risk of raw material shortages and price volatility, which historically impacted margins.

Manufacturing Efficiency

High manufacturing efficiency is evidenced by a 95% capacity utilization rate across existing plants, supported by firm demand from the textile and polymer industries.

📈 Strategic Growth

Expected Growth Rate

15-20%

Growth Strategy

Growth will be achieved through a shift toward higher-margin specialty chemicals, expansion of the pharma portfolio into regulatory markets like Japan (where MCP can sell for $4,000/kg), and incremental revenue of INR 50-75 Cr from new capacity.

Products & Services

Dye intermediates, pigments, specialty chemicals, pharmaceutical intermediates (MCP), and solar power generation.

Brand Portfolio

Bhageria Industries (Corporate Brand).

New Products/Services

Expansion into value-added Specialty segments and regulatory-grade pharma molecules like MCP, which are expected to contribute higher margins than traditional dye intermediates.

Market Expansion

Targeting regulatory pharmaceutical markets globally, specifically mentioning Japan as a high-value destination for pharma exports.

🌍 External Factors

Industry Trends

The Indian chemical industry is seeing a structural shift toward compliant, sustainable manufacturers. Bhageria is positioning itself by focusing on process excellence and sustainable practices to capture this 10-12% industry-wide growth trend.

Competitive Landscape

Faces intensified competition and pricing pressures in the merchant market, countered by product innovation and brand identity.

Competitive Moat

The company's moat is built on backward integration, high capacity utilization (95%), and a transition into high-entry-barrier regulatory pharma markets, which are more sustainable than merchant chemical markets.

Macro Economic Sensitivity

The business is sensitive to the performance of the textile and polymer industries, which drive demand for dyes and pigments.

Consumer Behavior

Increased preference for sustainable and reliable manufacturers in the global supply chain is shifting demand toward companies with robust compliance frameworks.

Geopolitical Risks

Global supply chain realignments are currently benefiting the company as international buyers seek reliable, compliant Indian manufacturers as alternatives to other global sources.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to environmental standards and pharmaceutical regulatory requirements for export markets (e.g., Japanese regulatory standards for MCP).

Environmental Compliance

The company integrates sustainable technologies and practices aligned with regulatory standards to mitigate environmental risks.

Legal Contingencies

Management reported no instances of significant fraud or significant changes in internal control over financial reporting during the year ended March 31, 2025.

⚠️ Risk Analysis

Key Uncertainties

Market volatility and interest rate changes pose risks to project costs and funding access. Pricing pressure in the chemicals segment remains a key uncertainty for margin stability.

Geographic Concentration Risk

While expanding globally, the company maintains a strong presence in India; however, the specific percentage of revenue from top regions is not disclosed.