Bal Pharma Ltd

₹ 137 4.39%

21 Nov 4:00 p.m.

balpharma.com BSE: 524824 NSE: BALPHARMA

About

Incorporated in 1987, Bal Pharma Ltd does manufacturing and selling of pharmaceutical products and related services^[1]

Key Points

Business Overview:^[1]
BALPL is a fully integrated pharmaceuticals company specialising in Bulk Drugs, Prescription Drugs, Generics, Pharma intermediates, and Ayurvedic products. Company focuses on therapeutic areas viz. Anti-diabetes, Anti-histamine, Anti-inflammatory, Acne Treatment, Gastroenterology, Cardiology, and dermatology. Company is one of Gliclazide's largest producers and exporters, a medicine to treat type-2 diabetes.

Website BSE NSE - BE

Market Cap ₹ 218 Cr.
Current Price ₹ 137
High / Low ₹ 158 / 89.0
Stock P/E 20.1
Book Value ₹ 66.8
Dividend Yield 0.89 %
ROCE 11.9 %
ROE 10.1 %
Face Value ₹ 10.0

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Pros

Company has been maintaining a healthy dividend payout of 20.4%

Cons

Company has low interest coverage ratio.
Promoter holding has decreased over last quarter: -0.37%
The company has delivered a poor sales growth of 8.70% over past five years.
Company has a low return on equity of 8.75% over last 3 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.

Peer comparison

Sector: Pharmaceuticals Industry: Pharmaceuticals - Indian - Bulk Drugs & Formln

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
	70.61	67.00	68.99	73.76	69.51	75.05	76.56	81.97	70.17	92.30	81.50	94.58	73.13
	63.40	60.59	62.88	70.27	64.06	69.04	70.25	73.70	63.33	84.64	73.95	84.26	66.05
Operating Profit	7.21	6.41	6.11	3.49	5.45	6.01	6.31	8.27	6.84	7.66	7.55	10.32	7.08
OPM %	10.21%	9.57%	8.86%	4.73%	7.84%	8.01%	8.24%	10.09%	9.75%	8.30%	9.26%	10.91%	9.68%
	0.53	0.91	1.11	3.94	0.56	0.38	0.77	0.44	0.45	0.41	0.24	2.23	0.81
Interest	3.02	2.58	2.36	2.45	2.37	2.83	3.12	3.84	3.64	3.82	3.56	4.12	3.71
Depreciation	1.70	1.72	1.71	2.11	1.83	1.96	2.03	1.66	2.12	2.02	2.55	1.76	2.08
Profit before tax	3.02	3.02	3.15	2.87	1.81	1.60	1.93	3.21	1.53	2.23	1.68	6.67	2.10
Tax %	49.34%	-0.99%	61.27%	3.14%	22.10%	29.38%	23.83%	33.64%	22.22%	28.25%	25.00%	6.75%	17.14%
	1.53	3.05	1.22	2.78	1.41	1.13	1.47	2.12	1.20	1.60	1.26	6.22	1.75
EPS in Rs	1.03	2.06	0.82	1.88	0.91	0.73	0.94	1.35	0.76	1.02	0.80	3.94	1.11
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	148	179	187	198	226	210	223	171	249	280	303	339	342
	131	161	170	181	206	187	203	164	223	257	277	306	309
Operating Profit	17	18	18	17	20	23	20	7	27	23	26	33	33
OPM %	12%	10%	9%	9%	9%	11%	9%	4%	11%	8%	9%	10%	10%
	1	1	1	2	3	2	3	4	3	6	2	3	4
Interest	8	7	7	6	8	9	13	13	12	11	13	15	15
Depreciation	5	5	7	7	6	7	6	7	7	7	7	8	8
Profit before tax	5	7	5	5	9	8	4	-9	10	12	9	12	13
Tax %	16%	23%	23%	46%	38%	30%	-53%	-2%	7%	29%	28%	15%
	4	5	4	3	5	6	7	-9	9	9	6	10	11
EPS in Rs	4.05	4.56	3.12	2.18	3.75	4.19	4.77	-6.28	6.14	5.79	3.91	6.50	6.87
Dividend Payout %	19%	22%	32%	46%	27%	24%	21%	0%	16%	17%	26%	18%

Compounded Sales Growth
10 Years:	7%
5 Years:	9%
3 Years:	11%
TTM:	12%

Compounded Profit Growth
10 Years:	7%
5 Years:	9%
3 Years:	4%
TTM:	83%

Stock Price CAGR
10 Years:	5%
5 Years:	26%
3 Years:	12%
1 Year:	21%

Return on Equity
10 Years:	7%
5 Years:	6%
3 Years:	9%
Last Year:	10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Equity Capital	11	11	13	13	14	14	14	14	15	15	16	16
Reserves	33	37	41	42	52	58	63	52	64	72	80	90
	53	51	49	70	74	91	104	99	104	98	125	134
	53	56	61	69	78	88	76	74	78	104	126	122
Total Liabilities	150	155	164	193	219	251	257	239	262	290	348	361
	52	55	52	56	60	58	57	56	53	53	63	65
CWIP	1	0	1	4	2	0	0	0	0	1	0	0
Investments	0	0	1	1	0	7	7	7	8	8	8	16
	97	99	110	132	157	185	193	176	200	227	276	280
Total Assets	150	155	164	193	219	251	257	239	262	290	348	361

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	16	13	14	1	6	13	12	22	10	31	5	29
	-4	-7	-6	-14	-8	-16	-12	-3	-7	-13	-22	-18
	-11	-8	-7	12	2	4	0	-20	-3	-17	17	-8
Net Cash Flow	2	-2	2	-0	0	1	-0	-2	0	-0	0	3

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	107	93	88	105	99	111	107	110	102	101	114	111
Inventory Days	157	122	132	145	171	240	217	291	146	162	210	167
Days Payable	150	129	142	163	168	183	148	170	118	158	195	171
Cash Conversion Cycle	115	86	78	87	101	168	176	232	130	105	129	107
Working Capital Days	99	98	94	110	122	162	179	206	180	154	175	161
ROCE %	13%	14%	12%	10%	13%	12%	10%	2%	13%	12%	10%	12%

Shareholding Pattern

Numbers in percentages

2 Recently

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	49.57%	49.57%	52.00%	52.00%	51.61%	51.61%	51.61%	51.61%	51.24%	51.24%	51.24%	50.87%
	0.31%	0.31%	0.30%	0.20%	0.18%	0.17%	0.17%	0.14%	0.13%	0.13%	0.13%	0.13%
	50.12%	50.12%	47.71%	47.80%	48.21%	48.23%	48.23%	48.25%	48.64%	48.64%	48.63%	49.01%
No. of Shareholders	16,049	16,223	16,317	16,170	16,466	16,029	15,869	15,529	15,060	14,772	15,014	16,007

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	44.35%	44.57%	42.45%	42.45%	44.98%	49.57%	51.61%	51.24%	50.87%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.31%	0.17%	0.13%	0.13%
	0.14%	0.07%	0.18%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%
	55.51%	55.37%	57.37%	57.53%	55.02%	50.12%	48.23%	48.64%	49.01%
No. of Shareholders	10,693	11,137	11,776	11,336	12,648	16,223	16,029	14,772	16,007

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Bal Pharma Ltd

Bal Pharma Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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