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Bharat Rasayan makes pesticides and other crop-protection chemicals that farmers spray on their fields to kill insects, weeds, and crop diseases.
Bharat Rasayan is an Indian chemical company that makes the stuff farmers spray on their crops to keep bugs, weeds, and diseases from eating the harvest. It produces technical-grade pesticides — the concentrated active ingredient — along with formulations that get diluted and sprayed in the field, plus a range of other agrochemicals and some industrial chemicals. Its customers are mainly other pesticide companies and formulators, in India and abroad, who buy the raw chemistry and then brand, mix, and sell it to farmers.
The business sits in the middle of the pesticide supply chain, which makes it a bit like a flour mill rather than a bakery: it sells the core ingredient to the people who make the final branded products farmers actually buy. That means Bharat Rasayan lives or dies on manufacturing skill — running complex chemical reactions safely, at scale, and at a low enough cost to win contracts. It earns money on volume and price spreads, and exports are a big part of the story because global pesticide giants routinely buy technical material from Indian producers.
Three seasoned entrepreneurs from the Bharat Group had a simple problem to solve: the group was buying its pesticides from others, so why not make them itself? In 1989 they set up Bharat Rasayan in New Delhi as the group's flagship, a backward integration project to manufacture technical grade pesticides and intermediates to international standards. The idea was to own the factory end of the business, not just the selling end.
A few years later the company went to the public to raise money, expanding existing capacity and adding a facility for another type of pesticide. Investors loved it — the issue was overwhelmingly subscribed — and the company listed on the NSE.
Its wholly owned subsidiary Siris Crop Sciences, which had built a new plant at Dahej in Gujarat, was merged into the parent company through a High Court scheme. The plants at Medak and Dahej moved under Bharat Rasayan effective April 1, 2010, handing the company a big jump in manufacturing capacity.
The new Dahej plant in Gujarat began production, and it quickly became a large-scale base for technical grade pesticides, intermediates and bulk formulations. This was the capacity the Siris merger had brought in, now running.
A whole-time director pushed Bharat Rasayan into a joint venture with Japan's Nissan Chemical Corporation. The JV, Nissan Bharat Rasayan, was set up to build a pesticide manufacturing unit at Saykha in Gujarat.
Rajender Prasad Gupta moved from Executive Director to Non-Executive Non-Independent Director, citing other commitments that pulled him away from day-to-day running of the business. He stayed on the board as a non-executive director.
After a year of blockbuster growth — revenue up 130% and net income up 195% — the agrochemical cycle turned, and quarterly revenue and profit began falling year over year. The stock dropped about 60% from its peak toward its 52-week low, and the dividend was cut 67% to half a rupee per share. The company shifted into conserving cash and focusing on costs and product development.
The broader agrochemical industry is cyclical and sensitive to weather, farm incomes, and commodity prices, and a wave of cheap Chinese supply has pressured prices in recent years. Pesticides also attract regulators' attention for safety and environmental reasons, so quality and compliance matter for staying qualified as a supplier. Against that backdrop, Bharat Rasayan's reputation for reliable, cost-competitive manufacturing is its main edge, and its fortunes track the global crop-protection cycle more than any single product.
Saved answer · last researched 7 Nov 2026
Bharat Rasayan sells pesticides mostly in India, where the agrochemical market grows about 5 to 13 percent a year.
India's pesticide market grows at roughly 5 to 13 percent a year depending on the segment and the researcher you ask. Bharat Rasayan sells mainly to Indian farmers and formulators, so that pace sets the weather for most of its business. Its own revenue fell 10 percent in the latest quarter, which is the gap between a growing market and a company losing ground in it. Source: AInvest, data from 2026