āagmanLoginNot investment advice. Data and computed figures, for information only.
Madhya Bharat Agro Products Ltd
₹167.10
−₹3.68 (−2.15%)
NSE · 16 Oct 2026, close
Market Cap
₹7,586 Cr
CMP
₹167.10
52-wk High / Low
₹611 / 110
P/E
49.0
P/B
13.1
Book Value
₹12.6
Div Yield
0.06%
ROCE
19.0%
ROE
31.3%
Face Value
₹2
D/E
1.56
Price−61.3% over 1Y
āagman read
Computed by āagmanPiotroski F-Score
3
/ 9
3 of 9 F-score tests passed
Graham Number
₹31
√(22.5 × EPS × book value per share)
ROIC
11.6%
vs 7.5% sector median
Cash flow to profit
−0.85
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
+196
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
30.4%
ROE × earnings retention ratio
ROE stability
10.8
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom −3.38FII +0.57DII +0.07
Latest quarter vs the previous one
Cash-accrual divergence
21.1%
of assets
Low = accruals track cash flow
Strengths
+ROCE has stayed above the sector median for 5 consecutive years (weakest: 12% vs the 2024 sector median of 11%)
+FII holding rose by 1.0pp over the last year
Watch-outs
−Borrowings are up 4655.6% since FY2016 (18 to 856)
−Price trades below its 200-day moving average (0.5x)
−Price is 72.6% below its 52-week high
−Annualised volatility of 161.8% is in the high band (≥45%)
−Promoter holding fell by 2.9pp over the last year
−Piotroski F-Score of 3/9 is in the weak band (≤3)
−Balance-sheet accruals of 21.1% of average assets — earnings are not cash-backed
Peer comparison
| Name | P/E | Mar Cap ₹ Cr | ROCE % | ROE % |
|---|
Quarterly results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 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 % | 16.1% | 14.4% | 7.4% | 9.6% | 17.0% | 12.9% | 13.7% | 12.1% | 13.9% | 13.8% | 10.8% | 10.4% | 15.9% |
| 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 |
| Profit before tax | 12 | 26 | 7 | 8 | 18 | 23 | 27 | 27 | 44 | 49 | 51 | 31 | 44 |
| Net Profit | 7 | 15 | 1 | 1 | 11 | 14 | 18 | 14 | 28 | 30 | 32 | 60 | 33 |
| EPS (₹) | 0.17 | 0.34 | 0.03 | 0.03 | 0.26 | 0.32 | 0.41 | 0.33 | 0.64 | 0.70 | 0.72 | 1.36 | 0.75 |
Profit & Loss
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 % | 9.7% | 18.5% | 25.6% | 23.3% | 27.1% | 27.1% | 22.7% | 21.8% | 21.4% | 11.8% | 13.7% | 12.2% | 12.5% |
| 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 |
| Profit before tax | 6 | 6 | 13 | 7 | 16 | 21 | 29 | 81 | 176 | 52 | 95 | 174 | 174 |
| Net Profit | 4 | 9 | 12 | 5 | 11 | 15 | 20 | 57 | 124 | 25 | 57 | 150 | 155 |
| EPS (₹) | 0.11 | 0.21 | 0.27 | 0.12 | 0.26 | 0.34 | 0.46 | 1.30 | 2.83 | 0.57 | 1.31 | 3.43 | 3.53 |
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Jun 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 | — |
Cash Flows
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 6 | 11 | 8 | 19 | 15 | 14 | 30 | −72 | −70 | 148 | 96 | −127 |
| Cash from Investing Activity | −3 | −27 | −17 | −16 | −1 | −22 | −56 | −13 | −65 | −92 | −92 | −373 |
| Cash from Financing Activity | −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 |
Ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % | 12.0 | 9.0 | 15.0 | 9.0 | 14.0 | 16.0 | 17.0 | 30.0 | 38.0 | 12.0 | 18.0 | 19.0 |
| ROE % | — | — | — | — | — | — | — | — | — | — | — | 31.3 |
| EPS (₹) | 0.11 | 0.21 | 0.27 | 0.12 | 0.26 | 0.34 | 0.46 | 1.30 | 2.83 | 0.57 | 1.31 | 3.43 |
| Book Value (₹) | — | — | — | — | — | — | — | — | — | — | — | 12.6 |
| Face Value (₹) | — | — | — | — | — | — | — | — | — | — | — | 2 |
| P/E | — | — | — | — | — | — | — | — | — | — | — | 49.0 |
| Div Yield % | — | — | — | — | — | — | — | — | — | — | — | 0.06 |
| NPM % | 5.9 | 13.8 | 14.0 | 5.6 | 10.3 | 11.6 | 10.8 | 11.6 | 12.6 | 3.0 | 5.3 | 8.0 |
| OPM % | 10.0 | 19.0 | 26.0 | 23.0 | 28.0 | 27.0 | 23.0 | 22.0 | 21.0 | 12.0 | 14.0 | 12.0 |
| D/E | 0.13 | 0.20 | 0.33 | 0.34 | 0.22 | 0.31 | 0.47 | 0.80 | 0.98 | 0.83 | 0.79 | 1.56 |
| P/B | — | — | — | — | — | — | — | — | — | — | — | 13.1 |
Growth
Compounded sales growth
10 years+40.0%
5 years+59.0%
3 years+24.0%
TTM+48.0%
Compounded profit growth
10 years+32.0%
5 years+49.0%
3 years+6.0%
TTM+109.0%
Stock price CAGR
5 years+77.0%
3 years+40.0%
Last year+88.0%
Return on equity
10 years22.0%
5 years25.0%
3 years19.0%
Last year31.0%
Documents
Announcements
Credit RatingCertificate under SEBI (Depositories and Participants) Regulations, 2018Commencement of commercial production/operationsAnalysts/Institutional Investor Meet/Con. Call UpdatesTrading WindowCorporate actions
3 Jul 2026SPLITFace Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 2/- Per Share10 : 2
17 Jun 2026DIVIDENDDividend - Re 0.50 Per Share—
26 Aug 2025DIVIDENDDividend - Rs 0.50 Per Share—
13 Sep 2024DIVIDENDDividend - Rs 0.50 Per Share—
20 Oct 2023BONUSBonus 1:1—
18 Sep 2023DIVIDENDAnnual General Meeting/Dividend - Rs 0.50 Per Share—
18 Oct 2022BONUSBonus 1:1—
16 Sep 2022DIVIDENDAnnual General Meeting/Dividend - Re 0.50 Per Share—
17 Sep 2021DIVIDEND Annual General Meeting/Dividend - Rs 0.50 Per Share—
17 Sep 2020DIVIDEND Annual General Meeting/Dividend - Rs 0.50 Per Share—
18 Sep 2019DIVIDEND Annual General Meeting/Dividend - Rs 0.50 Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman