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Balmer Lawrie & Company Ltd (BALMLAWRIE)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 523319 NSE: BALMLAWRIE Diversified | Small Cap | Balmer Lawrie & Co Share Price

₹171.80 -1.10 (-0.64%)

As on 11-Jun'26 10:04

Balmer Lawrie & Company Ltd (BALMLAWRIE)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 523319 NSE: BALMLAWRIE Diversified | Small Cap | Balmer Lawrie & Co Share Price

₹171.80 -1.10 (-0.64%)

As on 11-Jun'26 10:04

Key Metrics
Valuation Multiples
Market Cap
₹2,957 Cr.
Current Price
₹171.8
52-Week Low / High
₹148 / 238
TTM EPS
₹14.4
TTM Sales
₹2,699 Cr.
Book Value per Share
₹91
P/E Ratio
12.03
Lower than its 5-year historical median
Industry PE
123
Price to Book (P/B)
1.90
In line with its 5-year historical median
Price to Sales (P/S)
1.10
Lower than its 5-year historical median
EV/EBITDA
5.95
Lower than its 5-year historical median
Dividend Yield
4.60%
Profitability Efficiency
Return on Equity (ROE)
15.76%
Outperforms industry median
Return on Capital Employed (ROCE)
22.34%
Outperforms industry median
Return on Assets (ROA)
10.16%
Operating Profit Margin
12.1%
Net Profit Margin
9.33%
Gross Profit Margin
14.6%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
7.59%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
31.89%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
14.41%
Asset Quality
Promoter Holding
0.00%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹1,603 Cr.
Equity
₹171 Cr.
Face Value
₹10
All Time Low / High
₹1.62 / 320.25

Balmer Lawrie & Company stock performance

Key Ratios
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Quality

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Valuation

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Price Trend

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Q.1 Is Balmer Lawrie & Company Ltd a good quality company?
Balmer Lawrie & Company Ltd is a good quality company, based on a consistently good 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 Balmer Lawrie & Company Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Balmer Lawrie & Company Ltd vs industry peers?
Balmer Lawrie & Company Ltd revenue CAGR is 10.27%, compared to the industry median CAGR of 8.95%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Balmer Lawrie & Company Ltd?
Promoters hold 0.00% of the Balmer Lawrie & Company Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Balmer Lawrie & Company Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 6.7% based on the current price.

10 Year X-Ray : Login to view analysis.

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.
Balmer Lawrie & Company Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 24.9%23.2%21.8%22.1%18.2%12.3%13.4%16.5%21%22.3%-
Value Creation
Index
0.80.70.60.60.3-0.1-0.10.20.50.6-

Growth Parameters

Sales 1,5951,7061,7251,7751,5301,5222,0422,3102,3192,4942,699
Sales YoY Gr.-7%1.1%2.9%-13.8%-0.5%34.2%13.1%0.4%7.6%-
Adj EPS 9.59.810.710.710.86.878.914.513.914.4
YoY Gr.-3.2%9.4%0.3%0.4%-36.8%2.8%26.7%63.3%-4%-
BVPS (₹) 62.368.273.47677.276.577.279.383.589.491
Adj Net
Profit
162167183183184116120152248238246
Cash Flow from Ops. 132172109175171217-21.8169217111-
Debt/CF from Ops. 000.10.10.100000-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 5.1%10.3%6.9%7.6%
Adj EPS 4.3%5.2%25.7%-4%
BVPS4.1%3%5%7.1%
Share Price 5.8% 4% 9.3% -21.6%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
16.51515.114.414.18.99.111.317.816.115.9
Op. Profit
Mgn %
12.812.311.112.712.87.37.57.912.312.112.4
Net Profit
Mgn %
10.29.810.610.3127.75.96.610.79.59.1
Debt to
Equity
00000000000
Working Cap
Days
139145165165179164131135148156111
Cash Conv.
Cycle
2783626373134354059

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales1,5951,7061,7251,7751,5301,5222,0422,3102,3192,494
Operating Expenses + 1,3901,4971,5341,5491,3451,4121,8902,1292,0982,204
Manufacturing Costs646567686666858793100
Material Costs9801,0821,0771,1129229881,4351,6241,5381,646
Employee Cost 197197194209211215225248243255
Other Costs 149153196160145143145169225202
Operating Profit 204209191226185110153181220290
Operating Profit Margin (%) 12.8%12.2%11.1%12.7%12.1%7.2%7.5%7.9%9.5%11.6%
Other Income + 6576101869798708712089
Exceptional Items 0000000000
Interest 5546856101316
Depreciation 24262727424647474850
Profit Before Tax 240254261280232157170211279314
Tax 76847692554047577581
Profit After Tax 164170185189177116123154203233
PAT Margin (%) 10.3%10.0%10.7%10.6%11.6%7.7%6.0%6.7%8.8%9.3%
Adjusted EPS (₹)9.610.010.811.010.46.87.29.011.913.6
Dividend Payout Ratio (%)34.70%46.80%61.70%66.50%72.40%88.10%90.50%83.40%71.40%62.40%

Valuation of Balmer Lawrie & Co - 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 + 1,0651,1661,2561,3001,3201,3081,3201,3561,4271,528
Share Capital 29114114114171171171171171171
Reserves 1,0361,0521,1421,1861,1491,1371,1491,1851,2561,357
Debt +001512930000
Long Term Debt001111930000
Short Term Debt0041000000
Minority Interest0000000000
Trade Payables224307323293218271273304311292
Others Liabilities 299312258278336343353435493530
Total Liabilities 1,5881,7861,8521,8831,8821,9251,9452,0952,2322,350

Fixed Assets

Net Fixed Assets +393396411401565572581584583587
Gross Block416443484502705751783802829869
Accumulated Depreciation224873102140179202218246282
CWIP 72313117243211285267
Investments 57871381401301301301309091
Inventories120152137143145160201205193193
Trade Receivables230282271276273289314359420473
Cash Equivalents 444509481438450532416448524457
Others Assets 336337401369296210293341369482
Total Assets 1,5881,7861,8521,8831,8821,9251,9452,0952,2322,350

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 132172109175171217-22169217111
PBT 240254261280232157170211279314
Adjustment -9-5-13-2412-14192819
Changes in Working Capital -127-606-1199-149-2-26-127
Tax Paid -87-83-79-87-63-25-45-49-64-95
Cash Flow From Investing Activity + -54-10816-34-26-56158-22-6956
Capex -37-51-34-132-45-43-17-50-52-66
Net Investments -60-30-345-38-66128-19-8757
Others 43-285453585347476965
Cash Flow From Financing Activity + -66-73-106-144-172-146-124-134-157-177
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0000000000
Interest Paid -5-5-4-6-8-5-6-10-13-16
Dividend Paid -62-69-96-137-150-128-102-111-128-145
Others 00-5-2-14-13-16-13-16-16
Net Cash Flow 12-920-4-27151213-10-10

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)16.715.2815.2614.7513.538.869.3511.514.6215.76
ROCE (%)24.8723.1921.7822.118.1812.2513.3716.5320.9922.34
Asset Turnover Ratio1.131.080.970.950.810.81.061.141.071.09
PAT to CFO Conversion(x)0.81.010.590.930.971.87-0.181.11.070.48
Working Capital Days
Receivable Days63.3051.1057.4056.3065.5067.4053.9053.2061.4065.40
Inventory Days26.6027.1029.9028.7034.4036.6032.3032.1031.3028.20
Payable Days82.3089.70106.80101.10101.1090.3069.1064.8072.9066.80

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

Balmer Lawrie & Company Ltd FAQs

The current trading price of Balmer Lawrie & Co on 11-Jun-2026 10:04 is ₹171.8.

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 10-Jun-2026 the market cap of Balmer Lawrie & Co stood at ₹2,956.7 Cr

The latest P/E ratio of Balmer Lawrie & Co as of 10-Jun-2026 is 12.03.

The latest P/B ratio of Balmer Lawrie & Co as of 10-Jun-2026 is 1.90.

The 52-week high of Balmer Lawrie & Co is ₹238.0 and the 52-week low is ₹148.3.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Balmer Lawrie & Co is ₹2,699 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Balmer Lawrie & Company Ltd is a good quality company.

The key valuation ratios of Balmer Lawrie & Company Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Balmer Lawrie & Company Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About Balmer Lawrie & Company Ltd

Founded by two Scotsmen, Stephen George Balmer and Alexander Lawrie, in Kolkata, Balmer Lawrie & Co. Ltd. started its corporate journey as a Partnership Firm on 1st February 1867. Today Balmer Lawrie is a Miniratna - I Public Sector Enterprise under the Ministry of Petroleum and Natural Gas, Govt. of India.

Along with its five Joint Ventures and two subsidiaries in India and abroad, it is a much-respected transnational diversified conglomerate with presence in both manufacturing and service sectors. Balmer Lawrie is a market leader in Steel Barrels, Industrial Greases & Specialty Lubricants, Corporate Travel and Logistics Services. It also has significant presence in most other businesses, it operates, viz, Leather Chemicals, Logistics Infrastructure etc.

Business area of the company

The Company is a Government of India Enterprise engaged in diversified business with presence in both manufacturing and service businesses. The Company is engaged in the business of Industrial Packaging, Greases & Lubricants, Leather Chemicals, Logistic Services and Infrastructure, Refinery & Oil Field and Travel & Vacation Services in India.

Awards & Recognition

  • Silver Plate Award from Helpage India in 2011
  • CSR Corporate Governance Award' from Institute of Public Enterprise (IPE)-Hyderabad in 2012
  • CFS, Chennai won the 'Container Freight Station of the Year' Award, given by Gateway Media, in recognition of demonstrating highest productivity; low turnaround time and achieving environmental and safety certifications during the year 2011-12.
  • Balmer Lawrie was presented the prestigious “Social Responsibility Award” by the Governor of Tamil Nadu, Dr. K Rosaiah in a special function organised by Help Age India, which is observed as the “International Day for Older People”.
  • Industrial Packaging (IP) Plant at Navi Mumbai, Greases & Lubricants (G&L) Plant at Silvassa and Leather Chemicals (LC) Plant at Manali, Chennai won the National Awards for Manufacturing Competitiveness (NAMC), a unique Awards Program instituted by International Research Institute for Manufacturing (IRIM). The Awards function was organized by IRIM on 22nd September 2017 at ITC Maratha in Mumbai. The IP Plant won the Gold award and the G&L Plant and LC Plant won the Bronze award.
  • SBU: Logistics bagged an award in the ‘South Asia Maritime & Logistics Forum 2017’, which was held at The Lalit Mumbai on 7th September 2017. The Award was given away in recognition of the CSR initiatives taken by our company. Mr. Manas Kumar Ganguly, COO [Logistics], Mr. P P Rathnakar, Regional Head-FF [West] and Mr. Rajesh Raghavan, Chief Manager [CFS, Mumbai] received the award on behalf of Balmer Lawrie.
  • IP-Chennai was acknowledged with Bronze in National Award for Manufacturing Competitiveness 2018-19 Award
  • G&L-Kolkata plant was recognized with Silver in National Award for Manufacturing Competitiveness 2018-19 for significant contribution towards consolidation of SKUs, steady production despite fluctuations in raw material supplies, sensitivity towards changes in the market demand, deployment of Distributor Management System and efficient management of IR issues.
  • LC-Manali was recognized with Silver in National Award for Manufacturing Competitiveness 2018-19 for noteworthy contribution of the leadership team in navigating the unit to profit despite major challenges in the external environment. LC-Manali, apart from the Silver Award also received a special recognition for its “Strategic Improvement Initiatives”.
  • IP-Silvassa bagged the coveted Gold in National Award for Manufacturing Competitiveness 2018-19 for its consistent progress towards making the unit more competitive, developing flexibility in its manufacturing and bringing agility in its entire supply chain.
  • Balmer Lawrie won awards in two categories; Effective use of Digital Media and Special Brand Building Publication, during the SCOPE Corporate Communications Excellence Awards 2019.
  • SBU: Greases & Lubricants (G&L) received the Best Lubricants Supplier Award from Tata Motors Ltd., Spare Parts Division for the year 2018-19.
  • The Travel branch of SBU:T&V at Kolkata was recognized and awarded by Air India for its outstanding performance in the financial years 2017-18 and 2018-19. Balmer Lawrie was awarded a Certificate of Excellence for securing the second position in Passenger Sales (Domestic in Eastern India) in the year 2018-19 and the third position in the same category in 2017-18. The award was given away by Ms. Meenakshi Malik, ED [Marketing], Air India and Ms. Jhulan Goswami, ace cricketer and an Air India employee.
  • Mr. Adika Ratna Sekhar, Director [Human Resources & Corporate Affairs] received the HR Leadership Award (101 HR Super Achievers-India) at the World HRD Congress, the most iconic event focusing on HRD issues.
  • “Balmerol Lubricants” was recognized as one of ‘The Economic Times Best Brands 2019’. The award was given away during the mega conference, The Economic Times (ET) Best Brands Carnival held in Mumbai.
    Balmer Lawrie was one of the recipients of the Kolkata Best Employer Brand Awards 2019 given away by World HRD Congress at a function held in November 2019. During the award function a special award was given to Mr. A Ratna Sekhar, Director [HR & CA].
  • Mr. Prabal Basu, C&MD and Mr. A Ratna Sekhar, D[HR&CA] were invited for the Leadership and Emotional Intelligence Summit and Awards 2020 co-hosted by Forum for Emotional Intelligence Learning (FEIL) and Indian Institute of Public Administration at the DMRC Auditorium, New Delhi in January 2020. D[HR&CA] was part of a panel discussion on 'Emotional Intelligence and Change Management' and was given away the 'Most Admired Leader Award’.

Certifications of Balmer Lawrie

OHSAS 18001:1999

  • Performance Chemicals: Manali, Chennai

OHSAS 18000:2007

  • Greases & Lubricants: Chennai, Kolkata, Silvassa
  • Logistics Infrastructure: Chennai, Kolkata, Navi Mumbai

ISO 9001:2000

  • Greases & Lubricants: Chennai, Kolkata, Silvassa
  • Performance Chemicals: Manali, Chennai

ISO 14001:2004

  • Greases & Lubricants: Chennai, Kolkata, Silvassa
  • Industrial Packaging: Chennai, Kolkata, Silvassa, Asaoti
  • Performance Chemicals: Manali, Chennai
  • Logistics Infrastructure: Chennai, Kolkata, Navi Mumbai

ISO 9001:2008

  • Industrial Packaging: Chennai, Kolkata, Mumbai, Silvassa, Asaoti
  • Logistics Infrastructure: Chennai, Kolkata, Navi Mumbai
  • Logistics Services: Bangalore, Chennai, Delhi, Hyderabad, Kolkata, Mumbai
  • Engineering & Project Services and Refinery & Oilfield Services: Kolkata
  • Tours & Travels: Ahmedabad, Bengaluru, Chennai, Delhi, Hyderabad, Kolkata, Lucknow, Mumbai, Tiruvananthapuram, Vadodara
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