BN Agrochem Q2 income rises to Rs 750.05 crore in September

BN Agrochem Limited reported consolidated income of Rs 750.05 crore and profit before tax of Rs 10.24 crore for the quarter ended September 30, 2026, versus Rs 257.61 crore and Rs 5.21 crore in the preceding quarter. Its board approved the unaudited results on November 13, 2026.

What did BN Agrochem report for the September 2026 quarter?

BN Agrochem reported a Rs 492.44 crore sequential increase in consolidated income, from Rs 257.61 crore in the quarter ended June 30, 2026 to Rs 750.05 crore in the quarter ended September 30, 2026. Consolidated profit before tax increased by Rs 5.03 crore to Rs 10.24 crore, while total expenses rose to Rs 735.36 crore from Rs 249.29 crore.

Profit after tax was Rs 2.05 crore for the September quarter, compared with Rs 1.28 crore in the preceding quarter. Total comprehensive income was Rs 14.32 crore, and both basic and diluted earnings per share, or EPS, were Rs 0.85, against Rs 0.30 in the June quarter. The results note says diluted EPS reflects 60 convertible bonds issued on June 27, 2024.

How did BN Agrochem’s half-year performance compare with last year?

BN Agrochem recorded consolidated profit before tax of Rs 15.50 crore for the half year ended September 30, 2026, compared with Rs 38.40 crore for the half year ended September 30, 2025. The September-quarter pre-tax result of Rs 10.24 crore represented about two-thirds of the reported six-month pre-tax profit, with the June-quarter result contributing Rs 5.21 crore.

The cash-flow statement also records net profit before extraordinary items and tax of Rs 15.50 crore for the 2026 half year, against Rs 38.40 crore a year earlier. Total comprehensive income for the latest half year was Rs 17.01 crore, compared with Rs 23.01 crore in the corresponding 2025 period.

The filing therefore shows that the sequential increase in September-quarter income did not lift first-half pre-tax profit above the previous year’s comparable Rs 38.40 crore. BN Agrochem does not provide product, geography or business-line results because it states that segment reporting under Indian Accounting Standard 108, or Ind AS 108, is not applicable.

What changed in BN Agrochem’s working capital and cash position?

BN Agrochem’s trade receivables rose to Rs 259.83 crore at September 30, 2026 from Rs 141.99 crore at March 31, 2026, an increase of Rs 117.83 crore. The half-year cash-flow statement separately records a Rs 111.89 crore increase in trade receivables, making it the largest negative working-capital movement in the operating cash reconciliation.

Trade payables due to creditors other than micro and small enterprises increased to Rs 121.28 crore at September 30 from Rs 5.34 crore at March 31. The cash-flow statement records a Rs 115.85 crore increase in trade payables during the six months, which substantially offset the receivables movement. Other current assets also increased by Rs 10.94 crore during the half year.

Cash and cash equivalents increased to Rs 25.08 crore at September 30, 2026 from Rs 13.92 crore at the start of the half year. BN Agrochem reported Rs 11.39 crore of net cash generated from operating activities, an investing outflow of Rs 0.22 lakh and a financing outflow of Rs 42.65 lakh. Exchange-rate changes added Rs 19.52 lakh to cash and cash equivalents.

How did BN Agrochem’s balance sheet change by September 2026?

BN Agrochem’s consolidated total assets rose to Rs 668.58 crore at September 30, 2026 from Rs 525.64 crore at March 31, 2026. Current assets increased to Rs 579.57 crore from Rs 435.42 crore, while non-current assets declined to Rs 89.00 crore from Rs 90.21 crore. The increase in current assets was led by the Rs 117.83 crore rise in trade receivables.

Total equity increased to Rs 484.04 crore from Rs 466.69 crore over the six months. Equity share capital remained Rs 97.77 crore at both dates, while other equity rose to Rs 386.26 crore from Rs 368.92 crore. Non-current borrowings increased to Rs 51.69 crore from Rs 49.94 crore.

Total liabilities rose to Rs 184.54 crore at September 30 from Rs 58.94 crore at March 31, reflecting current liabilities of Rs 132.79 crore compared with Rs 8.89 crore six months earlier. Other current financial assets were Rs 282.63 crore at September 30 versus Rs 278.71 crore at March 31, while other current assets rose to Rs 11.52 crore from Rs 0.58 crore.

What did the auditor say about BN Agrochem’s results?

BN Agrochem received an unmodified conclusion from JSMG & Associates on its unaudited consolidated results for the quarter and half year ended September 30, 2026. The auditor said its limited review had not identified anything causing it to believe the statement had failed to disclose required information or contained a material misstatement.

The consolidated statement includes BN Agrochem, BN Holdings Europe Ltd., BN Agrochem Singapore PTE Ltd. and BNPB Industries Liberia Corporation. The auditor said one subsidiary and two step-down subsidiaries had total assets of Rs 278.29 crore at September 30, quarterly revenue of Rs 468.99 crore and quarterly profit after tax of Rs 6.39 crore.

For the six months ended September 30, 2026, those entities reported revenue of Rs 665.65 crore, profit after tax of Rs 8.90 crore and net cash inflows of Rs 10.84 crore, according to the auditor’s report. BN Agrochem also said it received two investor complaints during the September quarter, resolved both in the same period and had zero outstanding complaints at September 30.

Conclusion

BN Agrochem’s September-quarter statement combines a rise in consolidated income to Rs 750.05 crore and pre-tax profit to Rs 10.24 crore with a first-half pre-tax result of Rs 15.50 crore that remained below Rs 38.40 crore a year earlier. The balance sheet expanded by Rs 142.94 crore in total assets, principally alongside larger receivable and payable balances.

The key matter to watch in subsequent disclosures is the movement in the Rs 259.83 crore receivables balance and the Rs 121.28 crore trade-payables balance recorded at September 30, 2026. The filing provides no commercial explanation for either working-capital change, although it reports Rs 11.39 crore of operating cash generation for the six-month period.