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Key Financials Snapshot

TTM · Consolidated · ₹ in Cr
Market Cap
₹4719 Cr.
Stock P/E
15.6
P/B
2.5
Current Price
₹1479.6
Book Value
₹ 597.2
Face Value
10
52W High
₹2097
52W Low
₹ 1210
Dividend Yield
1.49%

LG Balakrishnan&Bros Overview

Business

LG Balakrishnan & Bros Ltd. (LGB) is a prominent Indian manufacturer of power transmission products. Its core business involves the design, development, and manufacturing of chains, sprockets, and tensioners primarily for automotive applications (including two-wheelers, three-wheelers, and four-wheelers), as well as for industrial and agricultural segments. The company operates on a dual business model: supplying components directly to Original Equipment Manufacturers (OEMs) and catering to the aftermarket segment with its well-established "ROLON" brand. Revenue is generated through the sale of these precision-engineered products.

Revenue Mix

The company primarily operates within the power transmission product segment. While exact percentage breakdowns are not publicly detailed, its revenue typically stems from two main channels:

Original Equipment Manufacturer (OEM) Sales: Supplying components directly to various automotive manufacturers.

Aftermarket Sales: Selling replacement parts through an extensive distribution network under its "ROLON" brand, which has a strong presence in the Indian market.

Additional, smaller segments may include components for industrial and textile machinery.

Industry

The auto ancillary industry in India is dynamic, highly dependent on the automotive sector's growth and cyclicality. It is characterized by intense competition from both organized and unorganized players. LG Balakrishnan & Bros Ltd. holds a strong and established position, particularly in the two-wheeler chain market, where its "ROLON" brand is a market leader in the aftermarket segment. In the OEM space, it is a preferred supplier to several major automotive manufacturers due to its product quality, reliability, and long-standing relationships, placing it among the leading players in its specialized product categories.

MOAT

Brand Strength: The "ROLON" brand is highly recognized and trusted in the Indian aftermarket for power transmission products, especially for two-wheelers, which provides pricing power and customer loyalty.

OEM Relationships & Switching Costs: Long-standing relationships with major automotive OEMs mean high barriers to entry for new suppliers due to rigorous qualification processes, quality standards, and the cost/risk associated with switching suppliers.

Distribution Network: An extensive and well-entrenched pan-India distribution network supports its aftermarket dominance.

Manufacturing Expertise & Scale: Decades of experience in manufacturing precision power transmission components have built up significant technical know-how and potentially economies of scale.

Growth Drivers

Automotive Sector Growth: Overall growth in India's automotive sector, particularly two-wheelers and passenger vehicles, directly drives demand for OEM supplies and aftermarket replacements.

Increased Vehicle Parc: A growing number of vehicles on Indian roads contributes to a continuous demand for aftermarket spare parts and replacements.

New Product Development & Diversification: Expansion into new product categories, vehicle segments (e.g., EVs where applicable), or enhanced technology chains.

Export Market Expansion: Opportunities to supply components to global OEMs or aftermarket segments beyond India.

Infrastructure Development: Improved road infrastructure and increasing disposable incomes generally support higher vehicle sales.

Risks

Automotive Sector Cyclicality: Demand for the company's products is highly correlated with the performance and cyclical nature of the Indian and global automotive industries.

Raw Material Price Volatility: Fluctuations in prices of key raw materials like steel and other metals can impact profitability.

Intense Competition: Competition from domestic and international players, including unorganized segments, can put pressure on margins.

Technological Disruption: The long-term shift towards electric vehicles (EVs) could alter demand for traditional powertrain components, although the impact on chains varies across EV segments.

Regulatory Changes: New emission norms or safety regulations could necessitate significant R&D investments or product changes.

Forex Fluctuations: Exposure to currency volatility due to exports and imports of raw materials or components.

Management & Ownership

LG Balakrishnan & Bros Ltd. is a promoter-driven company, characteristic of many established Indian industrial businesses. The Balakrishnan family has a significant and long-standing involvement in the management and strategic direction of the company. The management team generally possesses deep industry experience and technical expertise. Ownership typically comprises a substantial promoter stake alongside holdings by institutional investors and public shareholders.

Outlook

LG Balakrishnan & Bros Ltd. operates as a well-entrenched player in the Indian auto ancillary sector, particularly strong in power transmission products. Its robust "ROLON" brand and established OEM relationships provide a stable foundation. The company is well-positioned to benefit from India's long-term automotive growth trajectory and the expanding vehicle parc, which will drive both OEM and aftermarket demand. However, it faces inherent risks associated with the cyclical nature of the auto industry, raw material price volatility, and evolving technological shifts like the move towards EVs, which could necessitate adaptation and investment in new product lines. The company's ability to innovate, manage costs effectively, and maintain its strong market position will be key to navigating future challenges and capitalizing on growth opportunities.

LG Balakrishnan&Bros Share Price

Live · BSE / NSE · Inception: 1956
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Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Consolidated · annual

LG Balakrishnan&Bros Quarterly Results

#(Fig in Cr.) Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Net Sales 600 607 571 661 677 669 657 787 817 815
Other Income 12 12 14 14 12 15 15 15 16 23
Total Income 612 619 585 675 689 685 672 802 833 838
Total Expenditure 494 506 482 551 563 567 560 650 682 699
Operating Profit 118 113 103 124 125 117 112 151 151 138
Interest 2 3 2 2 2 3 3 4 4 4
Depreciation 20 21 21 22 24 25 26 28 30 32
Exceptional Income / Expenses 0 4 7 3 0 13 8 1 -7 1
Profit Before Tax 97 93 87 103 99 102 91 120 110 103
Provision for Tax 24 25 22 25 24 18 24 27 21 34
Profit After Tax 73 68 65 78 75 84 67 94 88 70
Adjustments -0 0 0 -0 0 0 0 -0 -0 0
Profit After Adjustments 73 68 65 78 75 84 67 94 88 70
Adjusted Earnings Per Share 23.1 21.6 20.8 24.3 23.6 26.4 21 29.4 27.7 21.9

LG Balakrishnan&Bros Profit & Loss

#(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 1173 1205 1259 1418 1688 1543 1609 2102 2203 2346 2578 3076
Other Income 2 4 9 5 3 5 8 12 26 49 55 69
Total Income 1175 1209 1267 1423 1691 1548 1617 2114 2229 2395 2634 3145
Total Expenditure 1031 1068 1097 1222 1479 1357 1357 1713 1822 1951 2162 2591
Operating Profit 144 142 171 201 211 191 261 401 407 445 471 552
Interest 18 18 16 12 13 16 11 9 8 9 11 15
Depreciation 39 46 53 58 68 79 83 83 79 78 92 116
Exceptional Income / Expenses 7 0 1 0 12 19 14 23 20 7 23 3
Profit Before Tax 94 78 103 131 143 115 180 332 340 365 391 424
Provision for Tax 20 13 29 43 46 25 47 86 88 93 89 106
Profit After Tax 73 65 74 89 97 90 133 246 252 271 302 319
Adjustments -2 -1 -3 -2 3 2 1 -0 -0 -0 0 0
Profit After Adjustments 71 63 71 86 100 92 133 245 252 271 302 319
Adjusted Earnings Per Share 22.7 20.2 22.6 27.4 31.7 29.2 42.5 78.2 80.3 86.4 94.7 100

LG Balakrishnan&Bros Balance Sheet

#(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 365 416 521 585 666 706 879 1132 1365 1641 1904
Minority's Interest 13 15 17 15 15 4 2 2 2 3 3
Borrowings 99 95 92 49 99 81 19 21 17 19 51
Other Non-Current Liabilities 78 22 25 27 31 40 38 38 39 46 39
Total Current Liabilities 312 312 293 339 410 301 440 519 450 528 574
Total Liabilities 867 860 947 1015 1221 1132 1378 1713 1873 2237 2570
Fixed Assets 316 381 396 413 531 584 541 499 487 572 812
Other Non-Current Assets 143 58 102 123 126 50 104 155 324 553 503
Total Current Assets 408 421 449 478 553 487 732 1059 1054 1112 1256
Total Assets 867 860 947 1015 1221 1132 1378 1713 1873 2237 2570

LG Balakrishnan&Bros Cash Flow

#(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 5 6 4 15 6 9 3 60 62 14 17
Cash Flow from Operating Activities 102 117 150 128 102 203 211 202 304 343 288
Cash Flow from Investing Activities -97 -87 -78 -87 -180 -55 -121 -182 -295 -299 -311
Cash Flow from Financing Activities -4 -33 -60 -50 81 -154 -33 -19 -58 -40 18
Net Cash Inflow / Outflow 1 -2 11 -9 2 -5 57 2 -48 3 -4
Closing Cash & Cash Equivalent 6 4 15 6 9 3 60 62 14 17 13

LG Balakrishnan&Bros Ratios

# 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) 22.68 20.23 22.61 27.41 31.72 29.19 42.51 78.2 80.25 86.44 94.73
CEPS(Rs) 35.96 35.29 40.45 46.61 52.46 53.76 68.86 104.79 105.69 111.32 123.42
DPS(Rs) 7 6 7 4.5 5 5 10 15 16 18 20
Book NAV/Share(Rs) 115.34 131.8 165.83 186.46 212.12 224.92 280.13 360.74 434.92 517.65 597.16
Core EBITDA Margin(%) 11.1 10.37 11.61 13.45 12.35 12.07 15.69 18.52 17.31 16.85 16.14
EBIT Margin(%) 8.7 7.22 8.54 9.84 9.2 8.5 11.87 16.22 15.8 15.92 15.62
Pre Tax Margin(%) 7.32 5.87 7.41 9.02 8.45 7.44 11.19 15.78 15.45 15.55 15.18
PAT Margin (%) 5.73 4.89 5.32 6.09 5.72 5.84 8.26 11.69 11.45 11.57 11.72
Cash Profit Margin (%) 8.8 8.36 9.11 10.06 9.76 10.94 13.43 15.65 15.06 14.9 15.27
ROA(%) 9.08 7.51 8.2 9.02 8.64 7.66 10.59 15.9 14.07 13.21 12.57
ROE(%) 22.01 16.72 15.87 16.01 15.45 13.14 16.76 24.43 20.2 18.16 17.12
ROCE(%) 22.44 16.92 19.1 21.21 19.7 15.35 21.53 31.32 25.92 23.35 21.28
Receivable days 41.65 41.18 42.94 46.38 44.85 46.77 47.78 46.92 46.9 44.56 44.01
Inventory Days 62.35 63.12 60.01 60.73 60.55 70.55 67.03 63.99 69.24 61.39 58.14
Payable days 115.76 134.9 130.39 134.02 122.6 130.61 125.09 102.96 86.31 79.94 87.92
PER(x) 12.11 10.73 13.71 19.52 12.17 5.49 7.19 6.86 9.23 14.68 12.51
Price/Book(x) 2.38 1.65 1.87 2.87 1.82 0.71 1.09 1.49 1.7 2.45 1.98
Dividend Yield(%) 1.27 1.38 1.13 0.42 1.3 3.12 3.27 2.79 2.16 1.42 1.69
EV/Net Sales(x) 0.88 0.71 0.87 1.25 0.84 0.4 0.55 0.71 0.94 1.59 1.36
EV/Core EBITDA(x) 7.15 6.01 6.38 8.86 6.72 3.23 3.39 3.71 5.08 8.37 7.42
Net Sales Growth(%) 5.81 2.76 4.42 12.67 19.04 -8.6 4.29 30.65 4.8 6.49 9.9
EBIT Growth(%) 13.95 -14.29 24.47 20.14 8.59 -15.6 45.71 78.44 2.09 7.35 7.82
PAT Growth(%) 12.7 -11.66 14.32 19.38 9.17 -6.73 47.4 84.99 2.68 7.6 11.27
EPS Growth(%) 13.32 -10.84 11.78 21.24 15.7 -7.97 45.64 83.94 2.63 7.71 9.59
Debt/Equity(x) 0.49 0.43 0.26 0.19 0.33 0.17 0.08 0.08 0.07 0.06 0.07
Current Ratio(x) 1.31 1.35 1.54 1.41 1.35 1.62 1.66 2.04 2.34 2.1 2.19
Quick Ratio(x) 0.57 0.62 0.75 0.66 0.6 0.66 0.98 1.2 1.45 1.37 1.44
Interest Cover(x) 6.31 5.35 7.56 12.04 12.2 8.05 17.47 36.96 45.08 42.08 35.32
Total Debt/Mcap(x) 0.21 0.26 0.14 0.06 0.18 0.24 0.07 0.06 0.04 0.03 0.04

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR +10% +7% +11% +8%
Operating Profit CAGR +6% +6% +20% +13%
PAT CAGR +11% +7% +27% +15%
Share Price CAGR +16% +23% +35% +20%
ROE Average +17% +18% +19% +18%
ROCE Average +21% +24% +25% +22%

LG Balakrishnan&Bros Shareholding Pattern

Latest · Mar 2026
100% held
Promoters 34.83 %
FII 6.61 %
DII (MF + Insurance) 13.35 %
Public (retail) 65.17 %
# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 33.7433.7433.7634.834.834.834.834.8234.8234.83
FII 7.817.627.466.446.055.925.975.8576.61
DII 13.9113.9914.3214.4313.9513.8713.7413.4712.8813.35
Public 66.2666.2666.2465.265.265.265.265.1865.1865.17
Others 0000000000
Total 100100100100100100100100100100

LG Balakrishnan&Bros Peer Comparison

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LG Balakrishnan&Bros Quarterly Price

10-year quarterly close · BSE
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News & Updates

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LG Balakrishnan&Bros Pros & Cons

Pros

  • Company has delivered good profit growth of 27% CAGR over last 5 years
  • Company is almost debt free.

Cons

  • Promoter holding is low: 34.83%.
  • Debtor days have increased from 79.94 to 87.92days.
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