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Bal Pharma Ltd (BALPHARMA)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 524824 NSE: BALPHARMA Pharmaceuticals & Drugs | Small Cap | Bal Pharma Share Price

₹88.29 1.21 (1.39%)

As on 10-Jun'26 12:16

Bal Pharma Ltd (BALPHARMA)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 524824 NSE: BALPHARMA Pharmaceuticals & Drugs | Small Cap | Bal Pharma Share Price

₹88.29 1.21 (1.39%)

As on 10-Jun'26 12:16

Key Metrics
Valuation Multiples
Market Cap
₹139 Cr.
Current Price
₹88.3
52-Week Low / High
₹60 / 113
TTM EPS
₹4.2
TTM Sales
₹311 Cr.
Book Value per Share
₹65.4
P/E Ratio
20.54
Higher than its 5-year historical median
Industry PE
47
Price to Book (P/B)
1.33
Lower than its 5-year historical median
Price to Sales (P/S)
0.45
Lower than its 5-year historical median
EV/EBITDA
8.33
In line with its 5-year historical median
Dividend Yield
1.44%
Profitability Efficiency
Return on Equity (ROE)
8.17%
Underperforms industry median
Return on Capital Employed (ROCE)
9.69%
Underperforms industry median
Return on Assets (ROA)
2.28%
Operating Profit Margin
10%
Net Profit Margin
2.58%
Gross Profit Margin
5.1%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-10.65%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
25.96%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
0.91%
Asset Quality
Promoter Holding
50.86%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹88 Cr.
Equity
₹15.9 Cr.
Face Value
₹10
All Time Low / High
₹1.60 / 167.90

Bal Pharma stock performance

Key Ratios
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Check Before You Invest

Valuation

Undervalued

Price Trend

Strong
Q.1 Is Bal Pharma Ltd a good quality company?
Bal Pharma Ltd is a weak quality company, based on a inconsistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Bal Pharma Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Bal Pharma Ltd vs industry peers?
Bal Pharma Ltd revenue CAGR is 12.13%, compared to the industry median CAGR of 5.35%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Bal Pharma Ltd?
Promoters hold 50.86% of the Bal Pharma Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Bal Pharma Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of -1.5% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Bal Pharma Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 10.1%12.8%11.8%10%2.1%12.6%12.3%10.4%10.7%9.7%-
Value Creation
Index
-0.3-0.1-0.2-0.3-0.9-0.1-0.1-0.3-0.2-0.3-

Growth Parameters

Sales 198226208223171249280303339303311
Sales YoY Gr.-14.3%-8.1%7.4%-23.5%46.1%12.5%8.1%11.7%-10.7%-
Adj EPS 1.72.33.54.6-6.674.44.55.34.84.2
YoY Gr.-41.8%51.3%29.7%-243.6%NA-37.1%1.1%18.2%-9.3%-
BVPS (₹) 42.5475154.246.552.957.760.358.362.165.4
Adj Net
Profit
2.13.356.5-9.310.46.578.37.67
Cash Flow from Ops. 1.36.412.611.621.710.230.65.428.520.3-
Debt/CF from Ops. 54.611.77.29.14.610.23.223.34.77.1-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 4.8%12.1%2.6%-10.7%
Adj EPS 12.5%NA2.7%-9.3%
BVPS4.3%5.9%2.5%6.4%
Share Price -0.1% -1.9% 0.1% -12.6%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
3.85.47.28.7-13.114.37.87.68.87.96.7
Op. Profit
Mgn %
8.78.9119.24.211.48.49.27.41010.4
Net Profit
Mgn %
1.11.52.42.9-5.54.22.32.32.52.52.2
Debt to
Equity
1.31.11.31.41.51.31.21.31.51.50.3
Working Cap
Days
211221290303386270273296270290153
Cash Conv.
Cycle
71781121291791069610210112719

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales198226208223171249280303339302
Operating Expenses + 181206185203164223257277315272
Manufacturing Costs24272427212432413834
Material Costs941048810476140153156176143
Employee Cost 36415048494044526062
Other Costs 27332324181928284233
Operating Profit 1720232072723262430
Operating Profit Margin (%) 8.7%8.9%11.0%9.2%4.1%10.6%8.4%8.7%7.1%10.0%
Other Income + 13234362102
Exceptional Items 0000000000
Interest 68913131211131517
Depreciation 767677771010
Profit Before Tax 5984-91012996
Tax 233-2-01322-2
Profit After Tax 3567-999688
PAT Margin (%) 1.4%2.4%2.9%3.0%-5.2%3.7%3.1%2.0%2.3%2.6%
Adjusted EPS (₹)2.23.84.24.8-6.36.15.83.94.94.9
Dividend Payout Ratio (%)45.90%26.70%23.90%21%0%16.30%17.30%25.60%24.60%24.50%

Valuation of Bal Pharma - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 55677277667885959299
Share Capital 13141414141515161616
Reserves 42525863526471797683
Debt +66708497949992117126133
Long Term Debt16183529232427313631
Short Term Debt505249687175658790102
Minority Interest0000000000
Trade Payables47545047394972917882
Others Liabilities 26294536403640453837
Total Liabilities 193219251257239262290348334350

Fixed Assets

Net Fixed Assets +56605857565353637987
Gross Block106667176828692107140157
Accumulated Depreciation5061319263339446170
CWIP 4200001003
Investments 1077788895
Inventories425466706860749888103
Trade Receivables576164665269789510295
Cash Equivalents 45443457138
Others Assets 29375153536770764350
Total Assets 193219251257239262290348334350

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 16131222103152920
PBT 5984-91012996
Adjustment 11151516171714192225
Changes in Working Capital -14-16-10-614-176-222-8
Tax Paid -1-1-1-2-0-0-1-1-5-2
Cash Flow From Investing Activity + -14-8-16-12-3-7-13-22-19-15
Capex -14-8-4-5-4-3-8-15-11-19
Net Investments 000-20-1-1-1-93
Others 00-12-50-3-5-711
Cash Flow From Financing Activity + 12240-20-3-1717-7-8
Net Proceeds from Shares 0000030411
Net Proceeds from Borrowing 10017-5-90346-5
Interest Paid -6-8-9-12-12-12-10-12-14-17
Dividend Paid -2-2-2-1-10-1-2-2-2
Others 1012-31935-823215
Net Cash Flow -001-0-10-003-2

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)5.188.768.569.07-12.4712.6110.476.88.278.17
ROCE (%)10.0712.7711.769.952.0912.5712.2810.410.79.69
Asset Turnover Ratio1.131.130.890.880.6911.020.950.990.88
PAT to CFO Conversion(x)0.331.22.171.71N/A1.113.440.833.632.5
Working Capital Days
Receivable Days92.1092.70108.80106.20125.5088.7095.90104106118.70
Inventory Days7075.50104.80111146.6093.5087.30103.4099.90114.80
Payable Days165.50176.50214.90171.50209.20114.30144.50190.50174.80203.50

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Bal Pharma Ltd FAQs

The current trading price of Bal Pharma on 10-Jun-2026 12:16 is ₹88.29.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 09-Jun-2026 the market cap of Bal Pharma stood at ₹138.7 Cr

The latest P/E ratio of Bal Pharma as of 09-Jun-2026 is 20.54.

The latest P/B ratio of Bal Pharma as of 09-Jun-2026 is 1.33.

The 52-week high of Bal Pharma is ₹113.0 and the 52-week low is ₹59.69.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Bal Pharma is ₹311 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Bal Pharma Ltd is a below average quality company.

The key valuation ratios of Bal Pharma Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Bal Pharma Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Bal Pharma Ltd

Bal Pharma Limited is a leading Indian Pharmaceutical Company with 25+ years of experience, specialized in Prescription Drugs, Generic & OTC Products, Intravenous Infusion and Bulk Actives.

The company strives hard to improve the quality of life for patients by providing them products that are Safe, Effective, High Quality and Affordable.

The company’s API and FDF are produced at world class manufacturing facilities. APIs are largely exported to Europe, Far East, Latin America, Africa, Middle East and other World markets. The FDF are exported to Semi-Regulated, Non-Regulated market and are now foraying to regulated market. The company is also one of the strong contenders for World Tender Business.

Business area of the company

The company is engaged in the manufacturing and selling of pharmaceutical products. The company caters to both domestic and international markets.

Business segments

API Intermediate: The company’s API (Active Pharmaceutical Ingredients) business began in 1996 with a simple objective of facilitating the manufacture of niche molecules that have been able to take the benefits of vertical integration to international and domestic markets. Bal Pharma’s API business has the competence and knowledge to undertake more than 30 different types of complex chemical reactions.

Finished formulations: Bal Pharma has a winning formula of cutting edge technology, handled by a highly qualified professional with a passion to deliver beyond excellence. The company is successfully exporting Finished Formulation to many countries. The company offers extensive range of products covering dosage forms - tablets, capsules, syrups, suspensions, IV infusions, Ophthalmic, creams and ointments to various Semi-Regulated markets.

Ayurveda/Herbal: Ayurveda is India’s traditional, natural system of medicine that has been practiced for more than 5,000 years. Ayurveda is a Sanskrit word that, when literally translated, means 'science of life' or 'practices of longevity.' Ayurveda provides an integrated approach to preventing and treating illness through lifestyle interventions and natural therapies. The company’s objective of providing “Good life to All” launched its Ayurvedic Division - Bal Vedics in 2003. Bal Vedics is dedicated to bringing out ‘nature’s best’ through International Quality Natural Formulations that combine traditional Indian Wisdom of medicine with Scientific Manufacturing.

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