Employees: 1,008
Size Madhya Bharat Agro Products (MBAPL.NS) is an India Materials company (Chemicals: Agricultural) with a market value of $944M, the 612th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹194.32 on 6 Nov 2026.
Performance Over six months the shares gained 68.5%, against -22.5% for the median peer and 0.0% for the India market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue grew 47.7% over the last twelve months (peer median +8.1%); the operating margin is 10.4% (peer median 5.2%).
Valuation It trades at 4.8× enterprise value to sales against a peer median of 1.6× (most expensive of 20).
Capital Return on invested capital runs 17.5 points above its cost of capital (9.1% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹18.7B | ₹12.0B | ₹6.91B | ₹4.93B | ₹5.08B |
| Revenue growth | — | +73% | +40% | -3% | — |
| Gross profit | ₹4.40B | -₹3.15B | -₹1.45B | -₹1.70B | -₹2.23B |
| EBITDA | ₹2.35B | -₹4.38B | -₹2.18B | -₹2.25B | -₹2.63B |
| Net income | ₹1.55B | ₹1.50B | ₹575M | ₹248M | ₹1.24B |
| Free cash flow | n/a | -₹5.58B | -₹399M | ₹162M | -₹1.55B |
| Capital expenditure | n/a | ₹3.99B | ₹1.08B | ₹1.05B | ₹701M |
| Total debt | n/a | ₹8.56B | ₹3.18B | ₹2.90B | ₹3.23B |
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| Measure | MBAPL.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +15.7% | -6.7% | 2nd highest of 21 |
| 6-month return | +68.5% | -22.5% | 2nd highest of 21 |
| Distance from 52-week high | -2.2% | -39.1% | highest of 21 |
| Revenue growth (TTM) | +47.7% | +8.1% | 2nd highest of 21 |
| Operating margin | 10.4% | 5.2% | 6th highest of 21 |
| EV / Sales | 4.8× | 1.6× | most expensive of 20 |
| ROIC minus cost of capital | +17.5 pp | +0.0 pp | 2nd highest of 21 |
| EV / EBITDA | 37.9× | 9.2× | most expensive of 9 |
| Net debt / EBITDA | 3.5× | 0.9× | 3rd most indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Madhya Bharat Agro Products MBAPL.NS | India | $944M | +68% | +48% | 10% | 4.8× | n/a | n/a |
| Oil-Dri Corporation of America ODC | United States | $948M | -9% | +2% | 14% | 1.9× | 3.8% | +10.1% |
| Oci OCI.AS | Netherlands | $967M | +8% | -81% | -4% | 1.9× | n/a | n/a |
| Nanjing Redsun 000525.SZ | China | $981M | -10% | +12% | -2% | 2.7× | 12.2% | -5.1% |
| Nufarm NUF.AX | Australia | $897M | +40% | -2% | 3% | 0.8× | 9.9% | +5.2% |
| FMC FMC | United States | $876M | -58% | -22% | -21% | 1.6× | -2.8% | -5.7% |
| Nantong Jiangshan Agrochemical & Chemicals 600389.SS | China | $1.04B | -44% | +13% | 6% | 1.5× | n/a | n/a |
| Kunming Chuan Jin Nuo Chemical 300505.SZ | China | $838M | -34% | +14% | 10% | 1.4× | n/a | n/a |
| Sinofert 0297.HK | Hong Kong | $1.08B | -25% | +16% | 6% | 0.2× | -18.5% | +1.0% |
| Kingenta Ecological Engineering 002470.SZ | China | $827M | -39% | +9% | -5% | 1.1× | n/a | n/a |
| China BlueChemical 3983.HK | Hong Kong | $1.08B | -32% | +4% | 5% | n/a | n/a | n/a |
| Migao 9879.HK | Hong Kong | $1.08B | +16% | +27% | 8% | 1.3× | -2.8% | +23.4% |
| Guizhou Chitianhua 600227.SS | China | $803M | -22% | -2% | -5% | 2.7× | 10.3% | +2.4% |
| CNSIG Anhui Hongsifang Fertilizer 603395.SS | China | $798M | -23% | +3% | 0% | 1.6× | n/a | n/a |
| Anhui Sierte Fertilizer Industry 002538.SZ | China | $794M | -15% | +9% | 3% | 1.0× | n/a | n/a |
| Krishana Phoschem KRISHANA.NS | India | $781M | +79% | +73% | 11% | 2.9× | n/a | n/a |
| Limin 002734.SZ | China | $778M | -37% | -6% | 8% | 1.4× | -1.2% | +0.6% |
| CVR Partners, LP UAN | United States | $1.16B | -13% | +7% | 21% | 2.4× | -10.5% | +11.6% |
| CAC Nantong Chemical 301665.SZ | China | $1.17B | -26% | +27% | 13% | 1.6× | -1.7% | +11.9% |
| LSB Industries LXU | United States | $763M | -24% | +13% | 11% | 1.6× | -0.8% | +11.9% |
| Taiwan Fertilizer 1722.TW | Taiwan | $1.18B | -15% | +4% | -16% | 3.1× | 0.0% | +3.5% |