Bhagiradha's 15.65% margin trails the sector median in Q1FY27
Filed 03 Aug 2026, 14:06 IST · Bhagiradha Chemicals & Industries Ltd (BHAGCHEM)
Key takeaways
- Bhagiradha's consolidated operating margin of 15.65% was 2.51 percentage points below the 18.16% median of 45 reported Commodities peers.
- Interest of Rs 6.43 cr and depreciation of Rs 8.34 cr reduced operating profit of Rs 30.53 cr to profit before tax of Rs 17.54 cr.
- A 24.02% tax rate left consolidated net profit at Rs 13.33 cr, while other income was Rs 1.78 cr.
Price around the results
Operating margin sits below 45-peer benchmark
The key read-through from Bhagiradha's consolidated Q1FY27 results is a 15.65% operating margin, 2.51 percentage points below the 18.16% median for 45 Commodities peers that have reported. The company ranked 14th from the bottom on this measure, placing its margin below the sector comparison set.
Finance and depreciation charges narrow the profit conversion
Operating profit of Rs 30.53 cr was reduced by interest of Rs 6.43 cr and depreciation of Rs 8.34 cr, leaving profit before tax at Rs 17.54 cr. Other income was Rs 1.78 cr, so the pre-tax result included a non-operating contribution alongside the operating business.
Tax rate leaves net profit at Rs 13.33 cr
The consolidated tax rate was 24.02%, bringing net profit to Rs 13.33 cr and basic EPS to Rs 1.03. With no sequential or year-on-year comparison in this release, the margin-versus-peers gap and the conversion from operating profit to pre-tax profit are the clearest indicators for this quarter.
Q1FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹195 cr |
| Other income | ₹2 cr |
| Expenses | ₹164 cr |
| Operating profit | ₹31 cr |
| Operating margin (%) | 15.65% |
| Interest | ₹6 cr |
| Depreciation | ₹8 cr |
| Profit before tax | ₹18 cr |
| Tax | ₹4 cr |
| Net profit | ₹13 cr |
| EPS (₹) | ₹1.03 |
Operating margin of 15.65% compares with a Commodities sector median of 18.16% across 45 peers that have reported Q1FY27.
What to watch
- Whether operating margin remains at or above 15.65%.
- Whether interest stays below or above Rs 6.43 cr as profit conversion is assessed.
- Whether other income remains close to Rs 1.78 cr rather than becoming a larger part of pre-tax profit.