Bharat Rasayan shares slip 4% post Q4 earnings; market cap falls to Rs 4,207 crore 

Shares of Bharat Rasayan Ltd slipped over 4% today after the firm reported a 53% fall in Q4 profit. Consolidated profit fell to Rs 30.25 crore for the fourth quarter ended March 2023 against a net profit of Rs 64.55 crore in the corresponding quarter of the previous fiscal. Bharat Rasayan stock fell 4.12% to Rs 9845.6 against the previous close of Rs 10,268.55 on BSE. Later, the stock ended 3.59% lower at Rs 9,900.

The small cap stock has lost 18% in a year and fallen 0.78% since the beginning of this year. Total 237 shares of the firm changed hands amounting to turnover of Rs 23.49 lakh. Market cap of the firm fell to Rs 4207.50 crore.

In terms of technicals, the relative strength index (RSI) of the stock stands at 67.9, signaling it's trading neither in the overbought zone nor in the oversold zone. Bharat Rasayan stock has a one-year beta of 0.5, indicating low volatility during the period. Bharat Rasayan shares are trading higher than the 50 day and 100 day moving averages but lower than 5 day, 20 day and 200 day moving averages.

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The firm reported a 31.23% fall in revenue to Rs 305.88 crore in the March 2023 quarter against Rs 444.78 crore in the March 2022 quarter. However, EBITDA slipped 36.15% to Rs 54.69 crore in Q4 against Rs 85.66 crore in the March quarter of 2022.

On an annual basis, net profit fell 29.19% to Rs 124.61 crore for the fiscal ended March 2023 against Rs 175.99 crore for the fiscal ended March 2022. Revenue slipped 5.13% to Rs 1234.4 crore in the March 2023 fiscal against Rs 1301.15 crore for the fiscal ended March 2022. The board of Bharat Rasayan announced a dividend of 15.00% for the fiscal year ended March 2023.

Bharat Rasayan is a R&D driven chemical manufacturing company It is engaged in the production of Fatty Acid Anhydrieds, Grignard Reagents, Pharma / Drug intermediates, Esters and Solvents on a regular basis. Bharat Rasayan is one of the largest manufactures of Cosmetic ingredients with primary focus in the personal care(Skincare, HairCare and Anti-bacterial ) preservatives.