Financial Performance Highlights
Bhageria Industries Limited reported strong standalone financial results for FY26 with revenue from operations growing 45.9% to ₹880.56 crore (₹87,143.39 lakhs) from ₹604.08 crore in FY25. Net profit increased 19% to ₹50.30 crore (₹5,029.85 lakhs) from ₹42.27 crore. The chemical segment was the primary growth driver with revenue of ₹829.56 crore (₹82,955.50 lakhs) and EBIT of ₹69.26 crore, operating at 95-97% capacity utilization through much of the year. Solar power operations generated revenue of ₹26.86 crore (₹2,685.75 lakhs) with EBIT of ₹11.57 crore, while the pharma segment reported revenue of ₹4.20 crore (₹419.94 lakhs) with losses of ₹5.49 crore (₹548.55 lakhs). Export revenue surged 227% to ₹303.72 crore.
Operational and Expansion Initiatives
The company expanded H-Acid manufacturing capacity from 400 to 500 metric tons per month, expected to generate incremental ₹50-75 crore annual revenue once fully ramped. Through subsidiary Rahuri Cleantech, the company commissioned 21 MW solar power capacity across three locations in Maharashtra (7 MW each at Pimpalgaon Wagha, Bhatkudgaon, and Khanapur) as part of a larger 32 MW build-out under Maharashtra's MSKVY 2.0 scheme. The company also commenced production in plasticizers segment at Tarapur facility in December 2025. Bhageria Industries Holding Company W.L.L. (Bahrain subsidiary) was liquidated effective November 20, 2025.
AGM and Corporate Governance Matters
The 37th Annual General Meeting is scheduled for August 1, 2026, to be conducted via video conferencing. Key agenda items include adoption of FY26 financial statements, declaration of ₹2.50 per share dividend (50% payout), and re-appointment of three executive directors - Mr. Suresh Bhageria as Executive Director & Chairman, Mr. Vinod Bhageria as Managing Director, and Mr. Vikas Bhageria as Jt. Managing Director - for 3-year terms from April 1, 2027. The board also approved ₹2 lakh remuneration for cost auditors for FY27. The company maintains strong corporate governance with 7 directors (3 executive, 4 independent including 1 woman director) and appropriate committee structures.
Capital Structure and Dividend Details
Equity share capital remained unchanged at ₹21.82 crore (4,36,44,180 shares of ₹5 each). The recommended final dividend of ₹2.50 per share represents a 50% payout with record date set for July 24, 2026 and payment on or before August 31, 2026. The dividend payout ratio stands at 21.69%. Current ratio improved to 2.83 times while debt-equity ratio remained low at 0.02 times.
Subsidiaries and Related Party Transactions
The company has five subsidiaries: Bhageria & Jajodia Pharmaceuticals, Rahuri Cleantech, Salasar Renewables, Hikaru Solar Power, and New Ahilyanagar Solar. Related party transactions included ₹420.44 lakhs purchases from Bhageria Green Energy Solutions, ₹419.56 lakhs sales to Bhageria & Jajodia Pharmaceuticals, loans to subsidiaries of ₹2953 lakhs, and corporate guarantees for subsidiaries of ₹102 crore outstanding.
Regulatory Compliance and CSR
CSR expenditure totaled ₹33.99 lakhs across healthcare, education, animal welfare, and infrastructure development. The company maintains full regulatory compliance with no material litigation, no defaults in loan repayments, and proper MSME payment practices. Contingent liabilities stood at ₹1213.01 lakhs primarily comprising disputed GST (₹659.91 lakhs) and bank guarantees (₹511 lakhs).