Madhya Bharat Agro Live Share Price Today, Share Analysis and Chart

About the company - Business Profile

Madhya Bharat Agro Products Ltd. (MBAPL) is a primary manufacturer of fertilizers and chemicals, specializing in the production of Single Super Phosphate (SSP). As a key constituent of the Oswal Group, the company plays a strategic role in India's agricultural supply chain by providing essential soil nutrients tailored for oilseeds and pulses. MBAPL operates with a focus on backward integration through its beneficiated rock phosphate facilities, which ensures a steady supply of high-grade raw materials for its downstream fertilizer production.

Key Points

• Key Facts: Founded in 1997 and headquartered in Bhilwara, Rajasthan, MBAPL is a subsidiary of Ostwal Phoschem (India) Limited. The company is listed on the National Stock Exchange (NSE). Its core product portfolio includes Single Super Phosphate (SSP) in powder and granulated forms, Di-ammonium Phosphate (DAP), NPK fertilizers, and various chemical products like Sulphuric Acid.
• Operations and Resources: The company maintains significant manufacturing clusters in Sagar (Madhya Pradesh) and Meghnagar (Jhabua, MP). The Sagar unit includes a fully integrated complex with a Sulphuric Acid plant and a 3-megawatt (MW) waste heat recovery power plant, enhancing cost efficiency. Its Meghnagar facility focuses on SSP and NPK production. Notable assets include the Beneficiated Rock Phosphate plant, which processes low-grade ore into high-grade feed for fertilizer units.
• Privatization and Ownership: MBAPL is a private-sector enterprise under the Oswal Group (Ostwal Phoschem). The promoter group maintains a majority stake, with Ostwal Phoschem (India) Limited holding approximately 74% of the equity.
• Market Significance: The company serves the critical agricultural sector in central and western India. Its products are vital for crops like soybeans and mustard, which have high sulphur and phosphorus requirements. MBAPL holds a significant market share in the SSP segment in Madhya Pradesh and Rajasthan.
• Business Model and Core Competencies: MBAPL’s business model is built on backward integration and geographic proximity to raw material sources and demand centers. It excels in converting low-grade rock phosphate into value-added fertilizers, reducing reliance on expensive imported high-grade rock.
• Financial Performance (FY 2024-25):
  • Revenue: The company's total revenue was approximately ₹1,025 crore for the fiscal year ended March 31, 2025.
  • Profitability: EBITDA stood at ₹142 crore, with a Net Profit (PAT) of approximately ₹88 crore.
  • Segment Breakdown: The Fertilizer segment contributes over 85% of total revenue, followed by the Chemicals segment (Sulphuric Acid and others) at roughly 12%. The remainder is derived from power generation and trading.
• Key Products and Advancements:
  • Beneficiated Rock Phosphate: Capacity of 1,98,000 MTPA, enabling the use of domestic low-grade ore.
  • SSP (Single Super Phosphate): Combined capacity across units exceeds 6,00,000 MTPA.
  • DAP/NPK: Diversified into high-value complex fertilizers to cater to evolving soil nutrient requirements.
• Strategic Initiatives: MBAPL is currently undergoing a capital expenditure program of approximately ₹350 crore to expand complex fertilizer capacities at its Jhabua unit. This expansion aims to double the NPK/DAP production capability to meet growing regional demand.
• Human Resources: The company employs over 450 direct employees across its manufacturing sites and corporate offices. Attrition rates have remained stable at under 10% due to localized hiring practices in the Sagar and Jhabua regions.

References

1. Annual Report Mar 2025
2. Investor Presentation Nov 2025
3. Result Sep 2025