BHAGCHEMBhagiradha Chemicals & Industries Ltd.
Bhagiradha Chemicals & Industries Q2 FY27 Results: Consolidated Net Profit ₹5.41 Crore on Total Income of ₹170 Crore
- Earnings
- Crop protection chemicals
Reviewed byKeshav SehgalBlacklitt Research
Bhagiradha Chemicals & Industries (NSE: BHAGCHEM) reported consolidated total income of ₹170.42 crore and net profit of ₹5.41 crore for the quarter ended 30 Sep 2026, it said in a filing on 03 Nov 2026. Standalone total income was ₹148.34 crore and standalone net profit ₹4.08 crore.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹170.42 crore, up 21.2% YoY and down 13.4% QoQ
- Net profit and EPS: ₹5.41 crore, down 1.8% YoY; basic EPS ₹0.42, flat YoY
- Finance costs: ₹7.64 crore, up 88.1% YoY against ₹4.06 crore a year earlier
- Depreciation: ₹9.01 crore, up 127.9% YoY against ₹3.95 crore
Standalone
The company on its own, without its subsidiaries
- Total income: ₹148.34 crore, up 10.0% YoY and down 15.6% QoQ
- Net profit and EPS: ₹4.08 crore, down 31.1% YoY; basic EPS ₹0.31, down 32.6% YoY
- Other income: ₹1.70 crore, up 210.8% YoY against ₹0.55 crore
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 170.42 | 140.56 | +21.2% | 196.80 | -13.4% | |
| Revenue from operations | 169.92 | 140.10 | +21.3% | 195.02 | -12.9% |
| Other income | 0.50 | 0.46 | +8.5% | 1.78 | -71.8% |
| 5.41 | 5.50 | -1.8% | 13.33 | -59.4% | |
| Profit before tax | 6.57 | 7.51 | -12.5% | 17.54 | -62.6% |
| Finance costs | 7.64 | 4.06 | +88.1% | 6.43 | +18.8% |
| Depreciation | 9.01 | 3.95 | +127.9% | 8.34 | +8.1% |
| Tax expense | 1.16 | 2.00 | -42.0% | 4.21 | -72.4% |
| Net profit margin | 3.17% | 3.92% | -0.74 pp | 6.77% | -3.60 pp |
| EPS, basic (₹) | 0.42 | 0.42 | 0.0% | 1.03 | -59.2% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Income grew faster than profit this quarter. Depreciation of ₹9.01 crore is more than double the year-ago ₹3.95 crore, and finance costs of ₹7.64 crore are 4.5% of total income.
The filing gives the consolidated results as including the parent and its wholly owned subsidiary Bheema Fine Chemicals Private Limited. Consolidated net profit of ₹5.41 crore is ₹1.33 crore higher than the standalone figure of ₹4.08 crore, so the subsidiary adds to the group result.
Other income is small at ₹0.50 crore, or 0.3% of total income. Tax of ₹1.16 crore is 17.7% of profit before tax of ₹6.57 crore. The filing reports no exceptional items in the quarter or the year-ago quarter.
The six-month consolidated profit for the period was ₹18.74 crore, against ₹9.48 crore a year earlier, and consolidated total income for six months was ₹367.22 crore against ₹264.98 crore. The company says that results for the quarter and half year are not indicative of performance for the full financial year, as it is seasonal in nature.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 148.34 | 134.91 | +10.0% | 175.76 | -15.6% | |
| Revenue from operations | 146.64 | 134.36 | +9.1% | 173.67 | -15.6% |
| Other income | 1.70 | 0.55 | +210.8% | 2.08 | -18.3% |
| 4.08 | 5.92 | -31.1% | 10.68 | -61.8% | |
| Profit before tax | 5.09 | 8.00 | -36.4% | 14.34 | -64.5% |
| Finance costs | 3.14 | 3.33 | -5.8% | 2.83 | +11.2% |
| Depreciation | 3.57 | 3.43 | +4.2% | 3.48 | +2.7% |
| Tax expense | 1.01 | 2.08 | -51.5% | 3.66 | -72.5% |
| Net profit margin | 2.75% | 4.38% | -1.64 pp | 6.08% | -3.33 pp |
| EPS, basic (₹) | 0.31 | 0.46 | -32.6% | 0.82 | -62.2% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit fell 31.1% YoY to ₹4.08 crore, while total income rose 10.0%. Profit before tax fell 36.4% to ₹5.09 crore, and tax of ₹1.01 crore is 19.8% of that profit before tax. Revenue from operations rose 9.1%, slower than other income, which rose 210.8% from a small base.
Standalone finance costs of ₹3.14 crore were 5.8% lower than a year earlier, so the rise in consolidated finance costs is not seen at the standalone level. Standalone depreciation of ₹3.57 crore rose 4.2% YoY.
The standalone results show no exceptional items.
Inference
The filing reports the board approved the results on 3 Nov 2026, with an unmodified opinion from the statutory auditors.
The filing does not state the reasons for the rise in consolidated depreciation and finance costs against the year-ago quarter, the large increase in consolidated capital work in progress and property, plant and equipment, or the reason the consolidated tax charge is high against profit before tax. The filing also does not say how these will affect later quarters.
Filed with BSE on . Reference: Original filing (PDF)
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