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Balmer Lawrie & Co

₹276.7 -1.8 | 0.6%

Market Cap ₹4732 Cr.

Stock P/E 20.4

P/B 2.8

Current Price ₹276.7

Book Value ₹ 98.3

Face Value 10

52W High ₹297.5

Dividend Yield 2.71%

52W Low ₹ 122.8

Balmer Lawrie & Co Research see more...

Overview Inc. Year: 1924Industry: Diversified

Balmer Lawrie and Company Ltd are engaged in the enterprise of industrial packaging, greasing & lubricants, leather-based chemical substances, logistic services, infrastructure, refinery & oil fields, and tour & vacation offerings in India. The Company operates through segments, which include Industrial Packaging, Logistics Infrastructure, Logistics Services, Travel & Vacations, Greases & Lubricants, and Others. The Company's Industrial Packaging has two huge segments, Industrial and Consumer Packaging, and sub-segments which includes Rigid and Flexible. The Company's Logistics section offers Logistics Services and Logistics Infrastructure. The Company's Travel and Vacations section offer Travel (Ticketing), Vacations, and Money Changing Activities. The Company's Greases and Lubricants section offers Greases and Lubricating Oils. The Company is exporting merchandise to other nations such as Qatar, Sri Lanka, New Zealand, Nepal, Kenya, China, and Bangladesh.

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Balmer Lawrie & Co Share Price

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Quarterly Price

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Peer Comparison

Balmer Lawrie & Co Quarterly Results

#(Fig in Cr.) Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
Net Sales 489 505 575 648 551 514 608 592 586 585
Other Income 7 5 15 8 8 3 17 10 13 11
Total Income 496 510 591 656 559 517 625 602 598 595
Total Expenditure 457 469 511 587 513 464 556 528 511 511
Operating Profit 39 41 80 70 46 53 70 75 88 84
Interest 3 4 3 5 4 5 5 6 5 5
Depreciation 14 14 14 14 14 14 14 15 14 14
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 23 23 62 51 29 34 51 54 69 64
Provision for Tax 8 5 27 11 11 10 26 12 21 15
Profit After Tax 15 18 36 40 18 24 25 42 48 49
Adjustments 12 10 11 16 17 12 20 16 16 18
Profit After Adjustments 27 27 47 56 35 36 45 57 64 67
Adjusted Earnings Per Share 1.6 1.6 2.8 3.3 2.1 2.1 2.6 3.4 3.7 3.9

Balmer Lawrie & Co Profit & Loss

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Net Sales 3018 3125 3258 1595 1706 1723 1775 1534 1529 2055 2321 2371
Other Income 60 77 69 65 58 80 63 55 76 45 50 51
Total Income 3078 3201 3328 1659 1764 1804 1838 1590 1605 2100 2372 2420
Total Expenditure 2789 2920 3041 1391 1498 1534 1554 1350 1416 1894 2133 2106
Operating Profit 289 281 287 268 266 269 284 240 190 206 239 317
Interest 23 24 23 5 5 4 7 15 12 14 18 21
Depreciation 38 35 46 24 26 27 30 52 55 57 57 57
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 229 222 218 240 236 238 247 173 123 136 164 238
Provision for Tax 62 66 66 76 81 73 85 55 40 47 57 74
Profit After Tax 167 156 152 164 155 165 161 118 83 89 107 164
Adjustments -1 0 0 0 0 2 36 37 33 45 61 70
Profit After Adjustments 166 156 152 164 155 166 197 155 115 134 168 233
Adjusted Earnings Per Share 9.7 9.1 8.9 9.6 9.1 9.7 11.5 9.1 6.7 7.8 9.8 13.6

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 13% 15% 6% -3%
Operating Profit CAGR 16% -0% -2% -2%
PAT CAGR 20% -3% -8% -4%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 123% 28% 20% 17%
ROE Average 7% 6% 7% 12%
ROCE Average 11% 9% 11% 16%

Balmer Lawrie & Co Balance Sheet

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 863 981 1043 1239 1361 1457 1520 1554 1542 1587 1681
Minority's Interest 3 0 0 0 0 53 51 44 39 36 31
Borrowings 114 94 89 0 0 11 76 94 93 88 82
Other Non-Current Liabilities 56 45 56 96 88 101 118 150 181 208 225
Total Current Liabilities 689 752 714 463 580 569 518 492 524 526 642
Total Liabilities 1726 1873 1902 1798 2030 2191 2282 2334 2379 2445 2662
Fixed Assets 452 464 577 393 396 409 567 769 767 766 759
Other Non-Current Assets 41 95 29 304 382 524 538 414 431 464 561
Total Current Assets 1234 1314 1297 1101 1252 1258 1177 1151 1182 1215 1342
Total Assets 1726 1873 1902 1798 2030 2191 2282 2334 2379 2445 2662

Balmer Lawrie & Co Cash Flow

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 357 412 372 48 62 52 76 55 21 36 48
Cash Flow from Operating Activities 201 167 201 150 181 129 194 189 244 2 208
Cash Flow from Investing Activities -45 -76 -42 -71 -117 -19 -137 -60 -80 137 -48
Cash Flow from Financing Activities -101 -131 -143 -66 -73 -86 -78 -162 -149 -127 -147
Net Cash Inflow / Outflow 55 -40 16 13 -9 24 -21 -34 15 12 12
Closing Cash & Cash Equivalent 412 372 388 62 52 76 55 21 36 48 60

Balmer Lawrie & Co Ratios

# Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) 9.71 9.1 8.9 9.59 9.05 9.73 11.52 9.05 6.74 7.84 9.8
CEPS(Rs) 11.99 11.17 11.6 11 10.57 11.21 11.19 9.94 8.05 8.49 9.57
DPS(Rs) 30.8 18 18 20 7 10 11 7.5 6 6.5 7.5
Book NAV/Share(Rs) 50.47 57.39 61.01 72.44 79.61 85.2 88.86 90.87 90.17 92.81 98.29
Core EBITDA Margin(%) 7.28 6.25 6.4 11.87 11.4 10.76 12.47 12.05 7.41 7.86 8.13
EBIT Margin(%) 7.97 7.51 7.08 14.25 13.16 13.81 14.29 12.27 8.81 7.28 7.85
Pre Tax Margin(%) 7.25 6.78 6.41 13.98 12.91 13.57 13.89 11.3 8.03 6.62 7.08
PAT Margin (%) 5.3 4.75 4.47 9.56 8.47 9.38 9.08 7.7 5.4 4.32 4.6
Cash Profit Margin (%) 6.5 5.83 5.83 10.96 9.88 10.91 10.78 11.07 9 7.07 7.05
ROA(%) 9.99 8.65 8.06 8.86 8.09 7.81 7.2 5.12 3.5 3.68 4.19
ROE(%) 20.62 16.88 15.03 14.37 11.91 11.7 10.83 7.69 5.34 5.67 6.54
ROCE(%) 24.81 22.23 20.1 19.72 18.5 17.12 16.52 11.59 8.19 9.02 10.56
Receivable days 51.43 54.3 53.34 74.39 51.11 57.29 56.14 65.39 66.99 53.48 53.09
Inventory Days 33.04 32.98 33.52 46.41 27.1 29.96 28.74 34.25 36.43 32.06 31.91
Payable days 45.66 49.46 47.46 98.25 89.67 106.03 100.33 101.72 91.19 69.24 64.88
PER(x) 5.94 5.58 10.59 9.96 17.35 14.88 10.75 8.78 19.13 14.39 11.3
Price/Book(x) 1.14 0.88 1.54 1.32 1.97 1.7 1.39 0.87 1.43 1.21 1.13
Dividend Yield(%) 5.08 5.91 3.18 3.49 2.97 4.6 5.93 9.44 4.65 5.76 6.77
EV/Net Sales(x) 0.26 0.21 0.44 0.73 1.26 1.15 0.99 0.65 1.16 0.78 0.66
EV/Core EBITDA(x) 2.66 2.38 4.95 4.35 8.09 7.37 6.17 4.18 9.32 7.79 6.43
Net Sales Growth(%) 12.98 3.53 4.27 -51.06 7.01 1 3 -13.57 -0.35 34.43 12.95
EBIT Growth(%) 11.62 -2.09 -2.16 1.51 -1.59 0.81 4.61 -25.77 -28.47 11.08 21.81
PAT Growth(%) 12.89 -6.86 -2.28 7.81 -5.62 6.46 -2.25 -26.65 -30.11 7.39 20.5
EPS Growth(%) 12.16 -6.25 -2.28 7.81 -5.62 7.47 18.38 -21.4 -25.53 16.22 25.1
Debt/Equity(x) 0.23 0.18 0.19 0 0 0.01 0.05 0.06 0.06 0.06 0.05
Current Ratio(x) 1.79 1.75 1.82 2.38 2.16 2.21 2.27 2.34 2.25 2.31 2.09
Quick Ratio(x) 1.38 1.34 1.37 2.12 1.9 1.97 2 2.04 1.95 1.93 1.77
Interest Cover(x) 11.08 10.23 10.61 53.73 53.02 57.37 35.61 12.66 11.3 11.01 10.16
Total Debt/Mcap(x) 0.2 0.2 0.12 0 0 0.01 0.04 0.07 0.04 0.05 0.05

Balmer Lawrie & Co Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 0 0 0 0 0 0 0 0 0 0
FII 1.57 1.63 1.61 1.62 1.31 1.2 1.95 1.82 2.13 2.71
DII 2.52 2.52 2.52 2.52 2.52 2.49 2.48 2.51 2.23 2.11
Public 95.91 95.84 95.87 95.85 96.17 96.3 95.57 95.67 95.64 95.18
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Debtor days have improved from 69.24 to 64.88days.
  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Promoter holding is low: 0%.
  • Company has a low return on equity of 6% over the last 3 years.
  • The company has delivered a poor profit growth of -8% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Balmer Lawrie & Co News

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