Madhya Bharat Agro Products Limited (MBAPL) is an India-based fertilizer and chemical manufacturer, forming a significant part of the Ostwal Group of Industries. The company specializes in fertilizers, with a primary focus on phosphatic fertilizers, and is known for its key brands 'Annadata' for Single Super Phosphate (SSP) and 'Bharat' for NPK/DAP complexes.
Incorporated as a Public Limited Company on October 22, 1997, MBAPL was founded by Mr. Shailander Jain. It was subsequently taken over by the Ostwal Group in September 2004. At the time of takeover, the company's total production capacity for SSP was 60,000 metric tons per annum (MT PA). The company operates manufacturing plants in Rajoua and Sourai, both located in Dist. Sagar, Madhya Pradesh.
MBAPL is engaged in the manufacturing of Beneficiated Rock Phosphate (BRP), Sulfuric Acid (SA), Single Super Phosphate (SSP), and Phosphate Rich Organic Manure (PROM). These products are crucial for replenishing phosphorus in the soil and act as essential fertilizers for various crops.
Beyond its core offerings, the company also produces sulfur bentonite and several value-added chemicals, including oleum and phosphoric acid, phosphorus and potassium (NPK)/diammonium phosphate (DAP) complex fertilizer.
The company's installed capacities are:
- Single Super Phosphate (SSP)/Granulated Single Super Phosphate (GSSP): Approximately 240,000 tons per year (TPY)
- BRP crushing capacity: 198,000 TPY
- Sulfur bentonite: 10,000 TPY
- Sulfuric acid: 33,000 TPY
- Oleum: 9,900 TPY
Madhya Bharat Agro Products continues its expansion plans, including establishing a 1,000 TPD SSP/GSSP and integrated fertilizer plant in Dhule, Maharashtra, which is set to further enhance its presence in the fertilizer sector.
Madhya Bharat Agro Products Ltd (MBAPL) holds a market capitalization of ₹3676.83 Crore as of July 11th, 2025. The company operates in the fertilizers and agrochemicals sector, a vital component of India's agricultural economy.
The company demonstrated impressive financial performance in the first quarter of FY26:
- Revenue from operations surged 104.48% year-on-year to ₹409.68 crore in the quarter ended June 30, 2025.
- Profit before tax (PBT) reached ₹44.14 crore, a substantial increase of 145.90% year-on-year.
- Net profit rose 145.52% to ₹28.21 crore in Q1 FY26, compared to ₹11.49 crore in the previous quarter (Q1 FY25).
For the full fiscal year 2025, the company recorded strong growth:
- Net profit increased by 131.40% to ₹57.48 crore in FY25, up from ₹24.84 crore in FY24.
- Sales grew by 29.65% to ₹1059.17 crore in FY25, compared to ₹816.95 crore in FY24.
As of recent trading sessions, MBAPL's key financial indicators include:
- P/E (Price-to-Earnings) ratio: 63.98
- P/B (Price-to-Book) ratio: 10.48
- 52-week High: ₹446.75
- 52-week Low: ₹197.00
- Dividend Yield: 0.12%
Madhya Bharat Agro Products Ltd has demonstrated remarkable growth, significantly outpacing industry averages.
- Revenue Growth (last 5 years): 52.2% annually, significantly higher than the industry average of 9.52%.
- Market Share Increase (last 5 years): From 0.09% to 0.48%, indicating strong market positioning and operational efficiency.
- Net Income Growth (last 5 years): 31.12% annually, compared to the industry average of 15.03%, showcasing sustained profitability and effective conversion of revenue increases into bottom-line performance.
The company is led by Mahendra Kumar Ostwal as Chairman and Pallavi Sukhwal as Company Secretary & Compliance Officer. The registered office is situated in Bhilwara, Rajasthan, and the company operates under the regulatory frameworks of the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
Madhya Bharat Agro Products Ltd (MBAPL) is a key player in the Materials sector, specifically within the Fertilizers & Agro Chemicals sub-sector. Operating in India's fertilizer industry, the company is essential for agricultural productivity and national food security. Given the government's strong emphasis on boosting agricultural output and providing support to farmers through various schemes, companies like MBAPL are strategically positioned to benefit from policy support and the increasing demand for fertilizers.
The company's strategic focus on phosphatic fertilizers, coupled with its established brand presence through "Annadata" and "Bharat," provides significant competitive advantages in the market. As part of the Ostwal Group, MBAPL also benefits from robust group synergies and well-established business relationships across the agricultural sector.
