Query Board

Investment Horizon : Query-Specific : Subscribers can ask their queries regarding stocks they hold and get our expert guidance. 

Bhaskar Agrochemicals manufactures technical grade pesticides, formulations and specialty agrochemical products catering to domestic as well as international customers. The company has manufacturing facilities in Telangana and derives a meaningful share of revenue from exports, supported by long-standing customer relationships and a diversified product basket across insecticides, herbicides and fungicides. The company continues to focus on improving its product mix and expanding registrations in overseas markets. 

FY26 was a mixed year operationally. While revenue remained resilient, profitability weakened due to margin pressure in the fourth quarter. In Q4FY26, revenue increased to ₹28.9 crore, up by 29 per cent YoY, but EBITDA turned negative and the company reported a net loss of ₹0.82 crore, compared with a profit of ₹0.74 crore in Q4FY25. Higher input costs, inventory related pressures and operating expenses weighed on earnings despite healthy top-line growth. While the company has continued to invest in expanding its business, its leverage remains elevated, with borrowings of around ₹26 crore against a net worth of approximately ₹22 crore as of FY26. Going forward, improving profitability and stronger operating cash flows will be critical for deleveraging the balance sheet and supporting future growth. 

The near-term investment thesis depends on recovery in operating margins rather than revenue growth alone. Improving export demand, normalization of raw material costs and a richer product mix will be key drivers for earnings recovery. While the disappointing Q4FY26 performance warrants caution, Bhaskar Agrochemicals remains a Small-Cap agrochemical company with export opportunities, prudent financial management and potential operating leverage as industry conditions improve. Given the sharp margin contraction in Q4FY26, investors may consider waiting for the Q1FY27 results before building meaningful positions. 

Wardwizard Foods & Beverages has transformed from a legacy edible products business into a diversified FMCG company with brands spanning ready-to-eat foods, frozen products, sauces, mayonnaise, beverages and staples. The global convenience food market continues to expand on the back of urbanisation, rising disposable incomes and growing demand for ready-to-eat (RTE), frozen foods and condiments. 

FY26 marked a significant turnaround for the company. Revenue surged to ₹237.7 crore from ₹92.8 crore in FY25, while EBITDA turned positive at ₹10.0 crore against a loss in the previous year. PAT also turned positive to ₹1.3 crore versus a loss of ₹13.7 crore in FY25. In Q4FY26, revenue stood at ₹40.45 crore, EBITDA at ₹5.32 crore and PAT at ₹2.99 crore, with EBITDA margin expanding to 12.9 per cent, reflecting improved operating leverage, better product mix and scale benefits. The next growth phase is being driven by capacity expansion and exports. The company is tripling production at its Vadodara RTE facility from 5 TPD to 15 TPD, while its upcoming 7,000 TPA Bhor plant will manufacture higher-mar gin sauces, mayonnaise and condiments targeted at HORECA, retail and export markets. 

The company is simultaneously strengthening its distribution network, expanding dealer partnerships and targeting newer export geographies including Europe, CIS and Africa, while leveraging growing demand from the Indian diaspora. Given the sharp improvement in FY26 performance and an ambitious export-led growth roadmap, we believe investors should wait for Q1FY27 results to confirm that revenue growth and double-digit EBITDA margins are sustainable before building meaningful exposure. This would provide greater confidence that the FY26 turnaround is translating into a durable earnings trajectory rather than a one-off improvement.

(Closing price as of July 07, 2026)