Bhagiradha Chemicals & Industries Limited has issued a clarification to BSE Limited regarding a recent surge in trading volume of its securities, responding to a surveillance inquiry dated December 19, 2025.

BSE Surveillance Inquiry Response

The company received a communication from BSE Surveillance (Volume Movement Letter No. L/SURV/ONL/PV/APJ/2025-2026/781) seeking clarification on the significant increase in trading volume across exchanges. In its formal response, Bhagiradha Chemicals emphasized its adherence to regulatory disclosure requirements.

Regulatory Compliance Statement

The company confirmed its commitment to disclosing all material events and price-sensitive information to stock exchanges in a timely manner. Management stated that all disclosures are made as per requirements of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 and other applicable laws.

Bhagiradha Chemicals specifically clarified that there are no material events or information pending disclosure or announcement that would require communication to stock exchanges under the current regulatory framework.

Market-Driven Volume Attribution

The management attributed the recent volume surge to market-driven factors rather than any undisclosed corporate developments. The company emphasized that the increased trading activity in its scrip across exchanges is purely due to market dynamics and not related to any pending announcements or material events.

Corporate Information

The response was signed by Sharanya M, Company Secretary and Compliance Officer (Membership No: ACS-63438), highlighting the company's structured approach to regulatory compliance and investor communication.

Bhagiradha Chemicals & Industries Limited (BCIL) has reported a robust 23% year-over-year growth in revenue from operations for the first half of fiscal year 2026 (H1FY26), reaching Rs. 263.90 crores. The company's performance was driven by close to double-digit volume growth and improved price realizations, according to its latest financial results.

Financial Highlights

BCIL achieved an EBITDA of Rs. 24.00 crores in H1FY26, marking an 11% increase from the previous year. This improvement was attributed to better operating efficiency. However, the company's Profit After Tax (PAT) declined to Rs. 9.50 crores from Rs. 11.10 crores in H1FY25, primarily due to elevated finance costs resulting from increased working capital utilization.

Operational Performance

The company's gross margins were impacted by higher raw material costs for certain products and the clearance of low-margin inventory. Despite these challenges, BCIL managed to improve its operational efficiency, which supported the EBITDA growth.

New Product Launch and Sustainability Initiatives

In a significant move, BCIL launched a new herbicide product, expanding its portfolio in the agrochemical space. Additionally, the company commissioned a 4MW solar plant, demonstrating its commitment to sustainable energy practices.

Expansion Plans

BCIL continues to progress on its Rs. 800 crore expansion plan in its subsidiary, Bheema Fine Chemicals Private Limited, located in Karnataka. The company reported that Phase 1 of this expansion, costing Rs. 429 crores (including GST), has been implemented as of September 30, 2025. A structured ramp-up of production is planned over the next six months.

Market Outlook

Management indicated that pricing pressures, which have been a concern in the industry, have largely bottomed out. Average realizations are beginning to improve, setting a positive tone for future performance.

Management Commentary

A. Arvind Kumar, Executive Director & CEO of BCIL, commented on the results: "We entered FY26 with signs of recovery in both volumes and price realizations. While pricing pressures persist in certain product categories, we believe prices have largely bottomed out and are beginning to firm up, setting the stage for a gradual improvement ahead."

Kumar added, "With strong volume recovery, improving price trends, and continued execution of strategic initiatives in innovation, backward integration, capacity expansion, and R&D, the Company remains confident of sustained growth and margin improvement in the coming quarters."

BCIL's performance in H1FY26 demonstrates resilience in a challenging market environment. The company's focus on operational efficiency, new product launches, and strategic expansion plans position it for potential growth as market conditions improve.