Bhageria Industries Limited Earnings Summary — Q4 FY2026

• Revenue for Q4 FY2026 surged by 45.24% YoY to ₹266.75 Cr, driven by strong volumes in the Chemical segment.
• The Chemical segment remains the primary revenue driver, contributing ₹255.72 Cr in Q4, accounting for approximately 95.8% of total revenue.
• Operating margins recovered sequentially to 7.5% from 6.3% in Q3, though they remain significantly below historical peaks due to global commodity cycles.
• Solar Power generation continues to provide steady annuity-like cash flows, contributing ₹8.01 Cr in revenue for the quarter.
• The Pharma segment reported a loss of ₹1.50 Cr for the quarter, continuing to drag on overall profitability.
• Management recommended a final dividend of ₹2.50 per share (50% of face value) for the full fiscal year 2026.
• Capital Work in Progress (CWIP) remains high at ₹16.58 Cr, indicating ongoing investments in capacity expansion.

Management remains focused on operational efficiency and vertical integration to combat Chinese competition and raw material fluctuations; internal and cost auditors have been re-appointed to oversee expanded operations.

Improving

Significant sequential improvement in profit and revenue suggests the company is recovering from earlier margin compression, despite YoY net profit remaining lower.

The outlook is stable with expectations of volume growth in chemicals and steady returns from the solar segment, though consolidated margins remain sensitive to global dye-intermediate pricing.