Bhagiradha Chemicals & Industries Ltd. · NSE:BHAGCHEM
Bhagiradha Chemicals & Industries — H1FY26 Earnings Presentation
37 slides from Bhagiradha Chemicals & Industries's earnings presentation, Nov 11, 2025
Slide 1: Stock exchange cover letter for investor presentation
Ref: BCIL/SE/2025/82 November 11, 2025 To, To, The Secretary, The Manager, BSE Limited, Listing Department, Phiroze Jeejeebhoy Towers, National Stock Exchange of India Limited, Dalal Street, Exchange Plaza, C-1, G Block, Bandra-Kurla, Mumbai - 400 001 Complex, Bandra (East), Mumbai – 400 051 Scrip C
Slide 2: Investor Presentation Q2 & H1FY26
Bhagiradha Chemicals & Industries Limited Investor Presentation Q2 & H1FY26 Rooted in Chemistry, Rising with Promise
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Bhagiradha Chemicals and Industries Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or sub
Slide 4: Q2 & H1FY26 Results Highlights
Q2 & H1FY26 Results Highlights
Slide 5: H1FY26 Consolidated Financial Highlights
H1FY26 Consolidated Financial Highlights Volumes: Revenue From Operations EBITDA PAT Rs. In Crores • Have seen close to double digit growth in volumes, supported by increasing trend in demand +23% +11% -15% 263.9 24.0 11.1 Price Realizations: 21.7 9.5 215.1 • Average price realizations have bottomed
Slide 6: Q2FY26 Consolidated Financial Highlights
Q2FY26 Consolidated Financial Highlights Volumes: Revenue From Operations EBITDA PAT • Achieved close to double digit growth in volumes, Rs. In Crores supported by increasing trend in demand +35% +55% +1% Price Realizations: 140.1 15.1 5.4 5.5 123.8 • Average price realizations for certain products
Slide 7: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (Rs. In Cr.) Q2FY26 Q2FY25 YoY Q1FY26 QoQ H1FY26 H1FY25 YoY FY25 Revenue From Operations 140.1 103.7 35% 123.8 13% 263.9 215.1 23% 440.5 Cost of Raw Materials Consumed 91.4 63.1 82.3 173.6 132.6 278.1 Gross Profit 48.7 40.7 20% 41.5 17% 90.3 82.5 9% 1
Slide 8: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (Rs. In Cr.) Sept-25 Mar-25 Equity & Liabilities (Rs. In Cr.) Sept-25 Mar-25 Non- Current Assets (A) 647.5 558.3 Equity (A) 689.7 682.2 Property, Plant & Equipment 248.0 238.2 Equity Share Capital 13.0 13.0 Capital Work in Progress 377.4 287.8 Other Equity 676.7 669
Slide 9: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (Rs. In Cr.) Sept-25 Sept-24 Net Profit Before Tax 10.0 17.4 Adjustments for: Non -Cash Items / Other Investment or Financial Items 12.0 3.7 Operating profit before working capital changes 22.0 21.2 Changes in working capital -22.8 -51.7 Cash generated fr
Slide 10: Management Commentary
Management Commentary Commenting on the performance Mr. A. Arvind Kumar, Executive Director & CEO said: “We entered FY26 with signs of recovery in both volumes and price realizations. While pricing pressures persist in certain product categories, we believe prices have largely bottomed out and are b
Slide 11: Key Business Update
Key Business Update Capex Update of the H1FY26 Key Highlights Subsidiary • We are witnessing a strong recovery in volumes • Total expansion plan of ~Rs. 800 crore, including a since H2FY25, driven by rising demand and ~Rs. 70 crore for solar project expanding market reach • Phase 1 of the project im
Slide 12: Company Overview
Company Overview Rising with Promise
Slide 13: Bhagiradha at a Glance
Bhagiradha at a Glance 30+ years Establishment Product Portfolio Manufacturing Facilities Established in 1993 by visionary 2 manufacturing facilities at Andhra Pradesh entrepreneur, late Sri. S. Koteswara Rao (existing) & Karnataka (upcoming) who was well recognised scientist in Established Capacity
Slide 14: Transformational Journey so far
Transformational Journey so far BCIL 1.0 BCIL 2.0 FY04 FY11 FY19 FY25 Revenue: Revenue: Revenue: Revenue: Growth Phase 52 crores 60 crores 384 crores 441 crores 1993 - 2004 2005 - 2011 2012 - 2019 2020 - 2025 • 2012: Backward integration of • 2020: Backward integration of • 1993: Founded by Sri Kote
Slide 15: Level of backward integration achieved
With Product Launches at Regular Intervals *Products Capability High Current Products Can be revived basis capacity availability Manufactured as a campaign Discontinued due to commercial reasons 32 2,6-dichloroaniline H Diafenthiuron I F I H I Acequinocyl Azoxystrobin H Triclopyr H Fipronil I 4 ADMP
Slide 16: and Established Customer Base
and Established Customer Base No single customer contributes more than 20% of the sales Customers 130 113 111 110 Relationship with 100+ active customers Various partnerships for registrations 98 with maximum customer retention in countries like USA, Brazil, EU etc Relationship of average tenure of
Slide 17: Along with Strong Market Presence
Along with Strong Market Presence Andhra Pradesh Presence in 20+ countries - Serving the farming communities worldwide (Existing Plant) Manufacturing Plants in Andhra Pradesh & Karnataka (India) • No. of production blocks: 3 production blocks with 4 process lines • Capacity: 3,250 MT / p. a. Corpora
Slide 18: Bhagiradha's Competitive Edge
Bhagiradha’s Competitive Edge
Slide 19: R&D serves as a growth engine, backed by strong infrastructure
R&D serves as a growth engine, backed by strong infrastructure Well-established R&D centre – Approved by Department of Scientific and Industrial Research & Ministry of Technology and Science, Government of India R&D center, 8 Synthesis labs with Pilot and semi 60+ Chemists R&D Facility – Synthesis,
Slide 20: Creating Entry Barrier: Backward Integration
Creating Entry Barrier: Backward Integration Input 13 N-6 (A) N-5 (A) N-4 (B) N-3 (A) Backward integration to increase to N-9 level with 16 process stages by FY 26, thus Input 14 Input 12 Input 11 Input 7 & 8 Input 4 Input 3 increasing margin Input 9 & 10 N-3 (B) N-2 (A) N-1 (A) Product 1 Input 5 &
Slide 21: Environmentally Responsible & Validated by Customers & External Agencies
Environmentally Responsible & Validated by Customers & External Agencies Greenery Around Plant Audit by Reputed External Effluent Treatment Plant Electro Oxidation Plant Agencies • Zero Liquid Discharge (ZLD) ETP which recycles water for reuse. • Effluent treatment process based • Ground water ~30%
Slide 22: Social Responsibility and Workplace Safety
Social Responsibility and Workplace Safety Our CSR initiatives focus on education, healthcare, and skill development, with this year’s funds directed towards reconstructing and repairing a building for future use in skill development and training Promoting Education, Healthcare & Training & Workplac
Slide 23: BCIL 2.0 Growth Investment
BCIL 2.0 Growth Investment Rising with Promise
Slide 24: Investment in Subsidiary
Investment in Subsidiary Bhagiradha Chemicals & Industries Limited (BCIL) Total Investments of Rs. 800+ crores under the Expansion Program Bheema Fine Chemicals Private Limited (100% subsidiary) Land size of 34 acres: Higher level of 9,002 MT New manufacturing facility at Kadechur Industrial backwar
Slide 25: will have Exponential Growth
will have Exponential Growth Expansion of Rs. 800+ crores in Phases Greenfield Capacity Expansion Allocation of Funds Backward Integration • Land & Building: ~190 crores Direct infusion of New Product Introduction ~450+ crores Convertible equity from BCIL Warrants • Plant & Machinery: ~540 crores ~
Slide 26: and Growth Strategies
and Growth Strategies • Increase level of backward integration in existing key molecules so Increase level of Backward as to have minimum dependency on Chinese imports thereby ✓ Leveraging existing relationships to capture Integration improving the margins markets & adding new customers through comp
Slide 27: Thank You!
Company: Investor Relations Advisors: CIN: L24219TG1993PLC015963 CIN: U74140MH2010PTC204285 Mrs. Sharanya. M - Company Ms. Neha Shroff / Mr. Mayur Pednekar neha.shroff@sgapl.net Secretary & Compliance Officer cs@bhagirad.com neha.shroff@sgapl.net / mayur.Pednekar@sgapl.net cs@bhagirad.com mayur.Pedn
Slide 28: Annexure
Rising with Promise Annexure
Slide 29: Founded by Well-recognised Scientist
Founded by Well-recognised Scientist • Late Sri Koteswara Rao was one of the well-recognized scientists in South India. His years of hard work, research and innovative mindset have spurred the growth and success of BCIL. • He held a postgraduate degree in Chemical Engineering from IIT Madras. • He s
Slide 30: Have Strong Leadership Team
Have Strong Leadership Team S. Chandra Sekhar A. Arvind Kumar B. Krishna Mohan Rao Promoter & Managing Director Executive Director & CEO Chief Financial Officer • Sri. S. Chandra Sekhar is a Chemical Engineer • Sri. A. Arvind Kumar holds a Master's degree in • Graduate in Arts and Associate of the I
Slide 31: Experienced Board Members: Independent Directors
Experienced Board Members Independent Directors Kishor Shah GSV Krishna Rao Dr. G. Aruna Non-Executive Chairman Non-Executive Director Non-Executive Women Director • He is a Fellow Member of the Institute of Chartered • An Independent and Non-Executive Director on the • She is B. Tech in Chemical En
Slide 32: Historical Performance
‘5 BHAGIRADHA CH EMICALS Historical Performance
Slide 33: Financial Snapshot
Financial Snapshot Revenue From Operations (Rs. In Cr.) EBITDA (Rs. In Cr.) Profit After Tax (Rs. In Cr.) 502 77 45 436 441 68 408 36 318 47 43 37 23 18 14 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 Revenue Break-up (%) EBITDA (%) PAT (%) Export 3% 16% 9% 15% 15% 8% 7
Slide 34: Expense Snapshot
Expense Snapshot Capacity Utilization (%) Raw Material (% to Sales) Employee Cost (% to Sales) 89% 90% 63% 64% 62% 63% 9% 87% 60% 8% 85% 6% 6% 5% 72% FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 Power & Fuel Cost (% to sales) Other Expenditure (% to Sales) 10% 19% 10% 8% 8% 7% 11% 8% 8% 8% FY21
Slide 35: Key Ratios
Key Ratios Return on Capital Employed (%) Asset turnover ratio Working Capital (No. of Days) 22% 2.0 1.9 99 132 164 73 192 18% 19% days days days days days 1.5 1.4 1.3 7% 170 165 3% 144 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 122 Return on Equity (%) Debt to Equity Ratio 106 92 94 96 97 87
Slide 36: Corporate Action Update – Convertible warrants issued on preferential basis
Corporate Action Update – Convertible warrants issued on preferential basis Warrants issued in November 2023 Particulars Remarks Subdivision of Shares: May 2024: No. of shares Issued & 25,61,425 Equity shares of Rs. 10/- each Allotted The existing equity shares of the Company of face value of Rs. 10
Slide 37: Capital Raise History
Capital Raise History Corporate Action Preferential Allotment Right Issue Preferential Allotment Total Issue Size Rs. 59 crores Rs. 84 crores Rs. 341 crores 341 84 59 17 19 15 2017-19 2022 2023-25 Total Issue size Promoters contribution Rs. In Crores Cumulative promoters’ participation is to the tun
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