Bhageria Industries Limited, established in 1989, is a prominent chemical manufacturing company based in India. The company is engaged in the manufacturing and sale of chemicals, dyes, and dye intermediates required for dye manufacturers and merchant export of related items. The company is also engaged in the generation of solar power and engineering, procurement, and construction (EPC) contracts.
With its registered office located in Mumbai, Maharashtra, Bhageria Industries has been serving the global dyes and intermediates industry for over three decades. The company is led by Chairman Suresh Bhageria and is an OHSAS 45001:2018, ISO 14001:2015, and ISO 9001:2015 certified business.
Bhageria Industries operates manufacturing facilities located at Vapi and Tarapur. The company commenced its operations by setting up a Vinyl Sulphone Plant at Vapi (Gujarat) with a capacity of 540 T.P.A., which has now expanded to 3600 T.P.A. Subsequently, the company has gone for further expansion in other dyes intermediates and dyestuffs.
Vinyl Sulphone, H-Acid, and Gamma Acid are major products of the company. The company also offers intermediates such as vinyl sulphone ester of ortho anisidine, vinyl sulphone ester of para cresidine, vinyl sulphone ester of aniline, R.salt, G.Salt, gamma acid, and others.
The company operates through two segments: Solar Power and Chemicals.
- Solar Power segment: Engaged in the generation and distribution of solar power. Bhageria Industries operates a 30MW solar PV power project located in Maharashtra, India. The project was commissioned in May 2017, and the power generated is sold to Solar Energy Corporation of India under a power purchase agreement at the rate of $0.064/kWh for a period of 25 years.
- Chemicals segment: Engaged in the manufacturing and trading of chemicals, and dyes and dye intermediates.
More than 70% of the company's production is exported to countries such as Korea, Japan, Taiwan, China, Germany, U.S.A., and other European and African countries. The company serves industries including electronics and information technology (IT), food, textile and leather, paints and coating, construction, infrastructure, and healthcare.
Today, Bhageria Dye Chem is one of the largest manufacturers and exporters of intermediates and dyes, with constant coordination with customers earning the company a reputation as a customer-friendly company.
- Market Capitalization: ₹871.57 crore (as of June 30, 2025)
- Promoter Holding: 71.75% (as of March 2025)
- P/E Ratio: 20.41 (as of June 30, 2025) / 39.65 (another recent measurement)
- Dividend Yield: 0.58%
Bhageria Industries reported a significant 132.45% increase in consolidated net profit to Rs 15.76 crore for Q4 March 2025, compared to Rs 6.78 crore in Q4 March 2024. For the full year, net profit rose 111.85% to Rs 40.40 crore, with sales increasing 20.29% to Rs 594.61 crore.
The company's quarterly performance shows consistent growth momentum:
- Q1 FY25 (June 2024): Net profit rose 368.50% to Rs 5.95 crore against Rs 1.27 crore in Q1 FY24.
- Q2 FY25 (September 2024): Net profit rose 137.32% to Rs 6.55 crore against Rs 2.76 crore in Q2 FY24.
- Q3 FY25 (December 2024): Net profit rose 47.09% to Rs 12.15 crore against Rs 8.26 crore in Q3 FY24.
- Q4 FY25 (March 2025): Net profit rose 132.45% to Rs 15.76 crore against Rs 6.78 crore in Q4 FY24.
Revenue has shown consistent growth over the last 4 quarters, from Rs 117.18 crore to Rs 183.61 crore, with an average increase of 13.7% per quarter. Sales rose 52.14% to Rs 170.35 crore in Q3 FY25 against Rs 111.97 crore in Q3 FY24.
In May 2025, a fire occurred at the company's 30MW solar plant on May 5, with no injuries reported and damage assessment ongoing. The facility is insured, and the insurer has been informed. The company has also incorporated a wholly owned subsidiary named Rahuri Cleantech on September 17, 2024.
Bhageria Industries continues to focus on operational excellence and expansion, maintaining its position as a leading manufacturer in the dyes and intermediates industry while diversifying into renewable energy generation. The stable promoter holding reflects strong confidence in the company's future prospects.
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