Bal Pharma Ltd

₹ 134 2.77%

21 Nov - close price

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 ₹ 214 Cr.
Current Price ₹ 134
High / Low ₹ 158 / 89.0
Stock P/E 28.1
Book Value ₹ 43.2
Dividend Yield 0.89 %
ROCE 12.1 %
ROE 11.1 %
Face Value ₹ 10.0

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Pros

Company has been maintaining a healthy dividend payout of 37.7%

Cons

Stock is trading at 3.11 times its book value
Company has low interest coverage ratio.
Promoter holding has decreased over last quarter: -0.37%
The company has delivered a poor sales growth of 8.55% over past five years.
Company has a low return on equity of 8.15% 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

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	67.17	69.17	74.05	69.84	75.31	76.62	82.45	70.39	92.54	81.66	94.63	74.36	73.69
	60.84	62.95	70.60	64.80	69.53	70.47	74.29	63.95	84.84	73.87	85.03	67.89	66.00
Operating Profit	6.33	6.22	3.45	5.04	5.78	6.15	8.16	6.44	7.70	7.79	9.60	6.47	7.69
OPM %	9.42%	8.99%	4.66%	7.22%	7.67%	8.03%	9.90%	9.15%	8.32%	9.54%	10.14%	8.70%	10.44%
	0.56	0.75	3.70	0.24	0.05	0.46	0.19	0.16	0.14	0.10	2.45	0.82	-0.20
Interest	2.63	2.36	2.45	2.37	2.86	3.11	3.85	3.64	3.82	3.66	4.14	4.24	3.65
Depreciation	2.21	2.21	2.42	2.23	2.37	2.45	2.09	2.53	2.42	2.96	2.16	2.43	2.48
Profit before tax	2.05	2.40	2.28	0.68	0.60	1.05	2.41	0.43	1.60	1.27	5.75	0.62	1.36
Tax %	31.71%	80.42%	3.95%	58.82%	78.33%	43.81%	32.78%	79.07%	39.38%	33.07%	3.65%	58.06%	23.53%
	1.39	0.48	2.19	0.28	0.12	0.59	1.62	0.09	0.97	0.85	5.53	0.26	1.04
EPS in Rs	0.93	0.43	1.33	0.18	0.07	0.36	1.02	0.05	0.61	0.56	3.46	0.16	0.65
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2011	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	114	179	187	198	229	211	225	171	251	281	304	339	324
	104	161	170	183	214	194	207	166	226	257	279	307	293
Operating Profit	10	18	17	15	15	17	18	5	25	24	25	32	32
OPM %	9%	10%	9%	7%	6%	8%	8%	3%	10%	9%	8%	9%	10%
	1	1	1	1	3	2	1	2	1	5	1	3	3
Interest	7	7	7	6	8	9	13	13	12	11	12	15	16
Depreciation	3	5	7	7	6	7	6	8	10	9	9	10	10
Profit before tax	1	7	5	3	3	3	-0	-14	4	9	5	9	9
Tax %	60%	23%	25%	90%	114%	87%	-1,175%	-5%	-15%	38%	45%	18%
	0	5	4	1	-0	0	2	-13	5	6	3	7	8
EPS in Rs	0.39	4.56	2.82	1.10	1.24	1.96	2.67	-8.62	3.20	3.78	1.64	4.68	4.83
Dividend Payout %	0%	22%	35%	91%	81%	51%	37%	0%	31%	26%	61%	26%

Compounded Sales Growth
10 Years:	7%
5 Years:	9%
3 Years:	11%
TTM:	1%

Compounded Profit Growth
10 Years:	4%
5 Years:	28%
3 Years:	16%
TTM:	138%

Stock Price CAGR
10 Years:	5%
5 Years:	27%
3 Years:	13%
1 Year:	25%

Return on Equity
10 Years:	2%
5 Years:	2%
3 Years:	8%
Last Year:	11%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2011	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	10	11	13	13	14	14	14	14	15	15	16	16	16
Reserves	26	37	40	40	48	51	52	38	39	43	48	53	53
	58	51	49	89	93	110	124	118	110	104	131	140	155
	41	56	61	69	78	86	71	68	76	99	116	109	116
Total Liabilities	135	155	164	211	233	260	261	238	240	261	311	317	340
	48	55	52	56	60	71	70	71	69	67	76	77	79
CWIP	0	0	1	4	2	0	4	3	0	2	0	0	2
Investments	0	0	0	0	0	0	0	0	0	0	0	7	11
	87	99	111	151	172	188	187	164	172	192	235	233	248
Total Assets	135	155	164	211	233	260	261	238	240	261	311	317	340

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2011	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	5	13	15	-19	6	1	8	23	22	27	-2	23
	-2	-7	-5	-14	-8	-4	-8	-5	-6	-9	-22	-19
	-2	-8	-7	32	-6	4	0	-20	-17	-17	24	-1
Net Cash Flow	1	-2	2	-1	-8	1	-0	-2	0	0	0	3

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2011	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	118	93	88	105	99	111	105	106	98	98	113	107
Inventory Days	191	122	132	145	172	240	217	292	146	162	207	167
Days Payable	157	129	142	163	171	182	147	167	114	143	167	147
Cash Conversion Cycle	153	86	78	87	100	168	175	231	130	117	153	127
Working Capital Days	141	98	92	142	140	163	166	180	129	109	134	123
ROCE %	8%		11%	7%	8%	8%	7%	-0%	10%	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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