WEBSITE BSE:524824 NSE: BAL PHARMA Inc. Year: 1987 Industry: Pharmaceuticals & Drugs My Bucket: Add Stock
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Bal Pharma Limited is a leading Indian pharmaceutical company with 25 years of experience, specialized in prescription drugs, generic and OTC products, intravenous infusion and bulk actives. It was established in 1987 and is listed on the Bombay Stock Exchange. The company has five manufacturing units across India, with state-of-the-art technology and infrastructure. They produce APIs (active pharmeceutical ingrediants ) and FDFs that are exported to Europe, Far East, Latin America, Africa, Middle East, and other world markets. They also has a ...Read More
Bal Pharma Limited is a leading Indian pharmaceutical company with 25 years of experience, specialized in prescription drugs, generic and OTC products, intravenous infusion and bulk actives. It was established in 1987 and is listed on the Bombay Stock Exchange. The company has five manufacturing units across India, with state-of-the-art technology and infrastructure. They produce APIs (active pharmeceutical ingrediants ) and FDFs that are exported to Europe, Far East, Latin America, Africa, Middle East, and other world markets. They also has a strong presence in the domestic market and caters to various therapeutic segments, such as diabetes, cardiometabolics, gynaecology, dermatology, gastroenterology, orthopaedics, ENT, and multi-speciality. A dedicated division for ayurvedic and herbal products that integrates modern medicine with traditional practices. ...Read Less
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Market Cap ₹125 Cr.
Stock P/E 17.3
P/B 1.6
Current Price ₹78.5
Book Value ₹ 50.3
Face Value 10
52W High ₹113
Dividend Yield 1.53%
52W Low ₹ 59.7
Price goes above X
Price falls below X
PE goes above X
PE falls below X
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| #(Fig in Cr.) | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 93 | 82 | 95 | 74 | 74 | 73 | 82 | 66 | 74 | 88 |
| Other Income | 0 | 0 | 2 | 1 | -0 | 1 | 1 | 1 | 1 | 0 |
| Total Income | 93 | 82 | 97 | 75 | 73 | 74 | 83 | 67 | 75 | 88 |
| Total Expenditure | 85 | 74 | 85 | 68 | 66 | 65 | 74 | 60 | 68 | 78 |
| Operating Profit | 8 | 8 | 12 | 7 | 7 | 8 | 9 | 7 | 7 | 10 |
| Interest | 4 | 4 | 4 | 4 | 4 | 5 | 4 | 4 | 4 | 5 |
| Depreciation | 2 | 3 | 2 | 2 | 2 | 3 | 2 | 3 | 2 | 3 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 2 | 1 | 6 | 1 | 1 | 1 | 3 | 0 | 1 | 2 |
| Provision for Tax | 1 | 0 | 0 | 0 | 0 | 0 | -3 | 0 | 0 | 0 |
| Profit After Tax | 1 | 1 | 6 | 0 | 1 | 1 | 5 | 0 | 1 | 2 |
| Adjustments | -0 | 0 | -0 | 0 | 0 | -0 | 0 | -0 | -0 | -0 |
| Profit After Adjustments | 1 | 1 | 5 | 0 | 1 | 0 | 5 | 0 | 1 | 2 |
| Adjusted Earnings Per Share | 0.6 | 0.6 | 3.5 | 0.2 | 0.7 | 0.3 | 3.4 | 0.1 | 0.4 | 1.1 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 187 | 198 | 229 | 209 | 225 | 171 | 251 | 281 | 304 | 339 | 303 | 310 |
| Other Income | 1 | 1 | 3 | 2 | 1 | 2 | 1 | 5 | 1 | 3 | 2 | 3 |
| Total Income | 188 | 200 | 232 | 211 | 226 | 173 | 252 | 286 | 305 | 342 | 305 | 313 |
| Total Expenditure | 170 | 183 | 214 | 192 | 207 | 166 | 226 | 257 | 279 | 308 | 273 | 280 |
| Operating Profit | 18 | 16 | 18 | 19 | 19 | 7 | 26 | 29 | 26 | 34 | 32 | 33 |
| Interest | 7 | 6 | 8 | 9 | 13 | 13 | 12 | 11 | 12 | 15 | 17 | 17 |
| Depreciation | 7 | 7 | 6 | 7 | 6 | 8 | 10 | 9 | 9 | 10 | 10 | 10 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 5 | 3 | 3 | 3 | -0 | -14 | 4 | 9 | 5 | 9 | 5 | 6 |
| Provision for Tax | 1 | 2 | 3 | 3 | -2 | -1 | -1 | 3 | 2 | 2 | -2 | -3 |
| Profit After Tax | 4 | 0 | -0 | 0 | 2 | -13 | 5 | 6 | 3 | 7 | 7 | 8 |
| Adjustments | 0 | 1 | 2 | 2 | 2 | 1 | 0 | -0 | -0 | -0 | -0 | 0 |
| Profit After Adjustments | 4 | 1 | 2 | 3 | 4 | -12 | 5 | 6 | 3 | 7 | 7 | 8 |
| Adjusted Earnings Per Share | 2.8 | 1.1 | 1.2 | 2 | 2.7 | -8.6 | 3.2 | 3.8 | 1.6 | 4.7 | 4.5 | 5 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -11% | 3% | 12% | 5% |
| Operating Profit CAGR | -6% | 3% | 36% | 6% |
| PAT CAGR | 0% | 5% | 0% | 6% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -18% | -2% | -6% | -2% |
| ROE Average | 10% | 8% | 9% | 3% |
| ROCE Average | 10% | 10% | 11% | 8% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 55 | 55 | 62 | 65 | 67 | 52 | 54 | 59 | 64 | 72 | 77 |
| Minority's Interest | -0 | -0 | -2 | -5 | -6 | -7 | -0 | -0 | -0 | -0 | -0 |
| Borrowings | 7 | 35 | 18 | 35 | 29 | 23 | 24 | 27 | 31 | 36 | 31 |
| Other Non-Current Liabilities | 10 | 10 | 12 | 11 | 9 | 10 | 10 | 9 | 7 | 8 | 7 |
| Total Current Liabilities | 92 | 111 | 143 | 154 | 163 | 159 | 153 | 166 | 209 | 203 | 220 |
| Total Liabilities | 164 | 211 | 233 | 260 | 261 | 238 | 240 | 261 | 311 | 320 | 335 |
| Fixed Assets | 52 | 56 | 60 | 71 | 70 | 71 | 69 | 67 | 76 | 80 | 87 |
| Other Non-Current Assets | 7 | 12 | 9 | 4 | 8 | 10 | 7 | 9 | 6 | 6 | 14 |
| Total Current Assets | 105 | 143 | 165 | 185 | 183 | 157 | 164 | 185 | 228 | 234 | 235 |
| Total Assets | 164 | 211 | 233 | 260 | 261 | 238 | 240 | 261 | 311 | 320 | 335 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 3 | 5 | -18 | 2 | 3 | 2 | 1 | 1 | 1 | 1 | 4 |
| Cash Flow from Operating Activities | 15 | -19 | 6 | 1 | 8 | 23 | 22 | 27 | -2 | 23 | 20 |
| Cash Flow from Investing Activities | -5 | -14 | -8 | -4 | -8 | -5 | -6 | -9 | -22 | -19 | -15 |
| Cash Flow from Financing Activities | -7 | 32 | -6 | 4 | 0 | -20 | -17 | -17 | 24 | -1 | -8 |
| Net Cash Inflow / Outflow | 2 | -1 | -8 | 1 | -0 | -1 | 0 | 0 | 0 | 3 | -2 |
| Closing Cash & Cash Equivalent | 5 | 5 | -25 | 3 | 2 | 1 | 1 | 1 | 1 | 4 | 2 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 2.82 | 1.09 | 1.24 | 1.96 | 2.67 | -8.62 | 3.2 | 3.79 | 1.64 | 4.68 | 4.53 |
| CEPS(Rs) | 8.22 | 5.65 | 4.3 | 5.04 | 5.86 | -3.68 | 9.6 | 9.95 | 7.49 | 11.08 | 10.68 |
| DPS(Rs) | 1 | 1 | 1 | 1 | 1 | 0 | 1 | 1 | 1 | 1.2 | 1.2 |
| Book NAV/Share(Rs) | 41.32 | 41.09 | 44.06 | 45.86 | 47.02 | 36.99 | 35.52 | 38.92 | 40.66 | 45.56 | 48.63 |
| Core EBITDA Margin(%) | 8.97 | 7.34 | 6.3 | 8.2 | 7.86 | 2.94 | 9.84 | 8.53 | 8.3 | 9.12 | 9.82 |
| EBIT Margin(%) | 5.9 | 4.51 | 4.84 | 5.82 | 5.57 | -0.47 | 6.49 | 7.14 | 5.61 | 6.99 | 7.32 |
| Pre Tax Margin(%) | 2.49 | 1.31 | 1.22 | 1.36 | -0.09 | -7.91 | 1.64 | 3.27 | 1.56 | 2.67 | 1.7 |
| PAT Margin (%) | 1.86 | 0.13 | -0.17 | 0.18 | 0.96 | -7.53 | 1.88 | 2.03 | 0.86 | 2.19 | 2.39 |
| Cash Profit Margin (%) | 5.55 | 3.59 | 2.59 | 3.38 | 3.69 | -3.05 | 5.68 | 5.24 | 3.86 | 5.16 | 5.61 |
| ROA(%) | 2.23 | 0.14 | -0.18 | 0.15 | 0.83 | -5.16 | 1.97 | 2.28 | 0.92 | 2.36 | 2.21 |
| ROE(%) | 7 | 0.49 | -0.69 | 0.59 | 3.27 | -21.65 | 8.97 | 10.34 | 4.31 | 10.97 | 9.69 |
| ROCE(%) | 10.88 | 7.35 | 7.59 | 7.45 | 6.88 | -0.44 | 9.72 | 12.33 | 9.56 | 11.67 | 10.1 |
| Receivable days | 86.58 | 91.87 | 92.23 | 108.6 | 104.42 | 121.92 | 85.08 | 92.48 | 101.56 | 104.16 | 115.65 |
| Inventory Days | 64.63 | 69.91 | 74.94 | 104.61 | 110.5 | 146.63 | 93.31 | 87.47 | 103.42 | 99.97 | 114.91 |
| Payable days | 150.33 | 165.66 | 177.83 | 215.07 | 170.66 | 207.25 | 111.21 | 132.11 | 165.9 | 162.36 | 202.96 |
| PER(x) | 23.74 | 92.55 | 71.26 | 39.33 | 26.38 | 0 | 16.8 | 28.49 | 40.83 | 19.51 | 18.35 |
| Price/Book(x) | 1.62 | 2.46 | 2.01 | 1.68 | 1.5 | 0.88 | 1.51 | 2.77 | 1.65 | 2 | 1.71 |
| Dividend Yield(%) | 1.49 | 0.99 | 1.13 | 1.3 | 1.42 | 0 | 1.86 | 0.93 | 1.49 | 1.32 | 1.44 |
| EV/Net Sales(x) | 0.7 | 1.08 | 0.93 | 1.03 | 0.97 | 0.94 | 0.74 | 0.92 | 0.75 | 0.8 | 0.91 |
| EV/Core EBITDA(x) | 7.12 | 13.27 | 11.97 | 11.26 | 11.72 | 23.47 | 7.21 | 8.86 | 8.72 | 8.01 | 8.6 |
| Net Sales Growth(%) | 4.63 | 5.96 | 15.43 | -8.57 | 7.51 | -23.96 | 46.43 | 12.25 | 8.18 | 11.51 | -10.65 |
| EBIT Growth(%) | -18.33 | -18.92 | 24.48 | 8.24 | 1.95 | -106.36 | 2138.47 | 23.56 | -15.08 | 38.98 | -6.41 |
| PAT Growth(%) | -29.95 | -92.7 | -252.8 | 194.95 | 472 | -698.78 | 136.55 | 21.07 | -54.09 | 184.26 | -2.81 |
| EPS Growth(%) | -38.26 | -61.26 | 13.56 | 58.33 | 36.15 | -422.55 | 137.11 | 18.33 | -56.7 | 185.36 | -3.11 |
| Debt/Equity(x) | 0.93 | 1.68 | 1.49 | 1.69 | 1.85 | 2.26 | 2.09 | 1.8 | 2.05 | 1.94 | 1.94 |
| Current Ratio(x) | 1.14 | 1.29 | 1.15 | 1.2 | 1.12 | 0.99 | 1.08 | 1.11 | 1.09 | 1.15 | 1.07 |
| Quick Ratio(x) | 0.75 | 0.92 | 0.77 | 0.8 | 0.71 | 0.57 | 0.69 | 0.67 | 0.62 | 0.72 | 0.6 |
| Interest Cover(x) | 1.73 | 1.41 | 1.34 | 1.31 | 0.98 | -0.06 | 1.34 | 1.84 | 1.39 | 1.62 | 1.3 |
| Total Debt/Mcap(x) | 0.57 | 0.68 | 0.74 | 1 | 1.24 | 2.57 | 1.38 | 0.65 | 1.25 | 0.97 | 1.14 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 51.23 | 51.23 | 51.23 | 50.86 | 50.86 | 50.86 | 50.86 | 50.86 | 50.86 | 50.86 |
| FII | 0.13 | 0.13 | 0.13 | 0.13 | 0.14 | 0.14 | 0.15 | 0.22 | 0.14 | 0.14 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 48.64 | 48.64 | 48.64 | 49.01 | 49 | 49 | 48.99 | 48.92 | 49.01 | 49.01 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.81 | 0.81 | 0.81 | 0.81 | 0.81 | 0.81 | 0.81 | 0.81 | 0.81 | 0.81 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.77 | 0.77 | 0.77 | 0.78 | 0.78 | 0.78 | 0.78 | 0.78 | 0.78 | 0.78 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 1.58 | 1.58 | 1.58 | 1.59 | 1.59 | 1.59 | 1.59 | 1.59 | 1.59 | 1.59 |
* The pros and cons are machine generated.
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