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Bal Pharma Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹57.93Overvalued by 24.08%vs CMP ₹76.30

P/E (15.0) × ROE (9.7%) × BV (₹49.20) × DY (1.57%)

Defaults: P/E=15

₹90.60Undervalued by 18.74%vs CMP ₹76.30
MoS: +15.8% (Adequate)Confidence: 37/100 (Low)Models: 3 Under, 1 Fair, 3 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹61.5325%Over (-19.4%)
Graham NumberEarnings₹75.2123%Fair (-1.4%)
Net Asset ValueAssets₹49.1910%Over (-35.5%)
EV/EBITDAEnterprise₹104.0513%Under (+36.4%)
Earnings YieldEarnings₹51.1010%Over (-33%)
ROCE CapitalReturns₹224.7913%Under (+194.6%)
Revenue MultipleRevenue₹95.538%Under (+25.2%)
Consensus (7 models)₹90.60100%Undervalued
Key Drivers: Wide model spread (₹49–₹225) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 6.2% · Defaults: P/E=15

*Investments are subject to market risks

Analyst Summary

Bal Pharma Ltd operates in the Pharmaceuticals segment, NSE: BALPHARMA | BSE: 524824, current market price is ₹76.30, market cap is 121 Cr.. At a glance, stock P/E is 15.0, ROE is 9.66 %, ROCE is 10.1 %, book value is 49.2, dividend yield is 1.57 %. The latest intrinsic value estimate is ₹90.60, which is about 18.7% above the current price, so the page currently reads as potentially undervalued rather than fully priced. On operating trend, latest reported sales are about ₹303 Cr versus the prior period change of -10.6%, while latest net profit is about ₹7 Cr with a prior-period change of 0.0%. The 52-week range shown on this page is 113/59.7, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisBal Pharma Ltd. is a Public Limited Listed company incorporated on 19/05/1987 and has its registered office in the State of Karnataka, India. Company's Corporate Identification Number(CIN) is L85110KA…

This summary is generated from the stock page data available for Bal Pharma Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

48
Bal Pharma Ltd scores 48/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health46/100 · Moderate
ROCE 10.1% AverageROE 9.7% AverageD/E 1.95 High debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
FII holding stable No changePromoter holding at 50.9% Stable
Earnings Quality60/100 · Moderate
OPM stable around 10% SteadyWorking capital: 6 days (improving) Efficient
Quarterly Momentum25/100 · Weak
Revenue (4Q): -9% YoY DecliningProfit (4Q): -11% YoY Declining
Industry Rank60/100 · Moderate
P/E 15.0 vs industry 59.5 Cheaper than peersROCE 10.1% vs industry 16.4% Average3Y sales CAGR: 3% Slow

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 25, 2026, 10:24 pm

Market Cap 121 Cr.
Current Price 76.3
Intrinsic Value₹90.60
High / Low 113/59.7
Stock P/E15.0
Book Value 49.2
Dividend Yield1.57 %
ROCE10.1 %
ROE9.66 %
Face Value 10.0
PEG Ratio2.41

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Bal Pharma Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Bal Pharma Ltd 121 Cr. 76.3 113/59.715.0 49.21.57 %10.1 %9.66 % 10.0
Godavari Drugs Ltd 117 Cr. 115 130/69.733.4 60.30.00 %10.1 %10.6 % 10.0
Achyut Healthcare Ltd 128 Cr. 5.42 6.80/3.18297 1.340.00 %2.26 %1.77 % 1.00
Krebs Biochemicals & Industries Ltd 128 Cr. 59.3 114/38.3 74.60.00 %30.1 %% 10.0
Par Drugs & Chemicals Ltd 112 Cr. 91.1 122/78.08.06 86.50.00 %18.4 %13.6 % 10.0
Industry Average19,737.15 Cr1,103.0859.48201.130.36%16.35%15.16%6.10

All Competitor Stocks of Bal Pharma Ltd

Quarterly Result

MetricSep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales 75.3176.6282.4570.3992.5481.6694.6374.3673.6973.1581.8865.8774.02
Expenses 69.5370.4774.2963.9584.8473.8785.0367.8966.0065.4074.2459.8168.29
Operating Profit 5.786.158.166.447.707.799.606.477.697.757.646.065.73
OPM % 7.67%8.03%9.90%9.15%8.32%9.54%10.14%8.70%10.44%10.59%9.33%9.20%7.74%
Other Income 0.050.460.190.160.140.102.450.82-0.200.511.080.721.12
Interest 2.863.113.853.643.823.664.144.243.655.013.954.053.86
Depreciation 2.372.452.092.532.422.962.162.432.482.692.182.522.27
Profit before tax 0.601.052.410.431.601.275.750.621.360.562.590.210.72
Tax % 78.33%43.81%32.78%79.07%39.38%33.07%3.65%58.06%23.53%7.14%-108.88%0.00%0.00%
Net Profit 0.120.591.620.090.970.855.530.261.040.525.410.210.72
EPS in Rs 0.070.361.020.050.610.563.460.160.650.303.410.130.45

Last Updated: January 2, 2026, 8:31 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: March 23, 2026, 1:30 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 179187198229211225171251281304339303309
Expenses 161170183214194207166226257279308273280
Operating Profit 1817151517185252425313029
OPM % 10%9%7%6%8%8%3%10%9%8%9%10%9%
Other Income 1113212151323
Interest 776891313121112151717
Depreciation 57767681099101010
Profit before tax 75333-0-14495955
Tax % 23%25%90%114%87%-1,175%-5%-15%38%45%18%-41%
Net Profit 541-002-13563778
EPS in Rs 4.562.821.101.241.962.67-8.623.203.781.644.684.535.11
Dividend Payout % 22%35%91%81%51%37%0%31%26%61%26%26%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-20.00%-75.00%-100.00%-750.00%138.46%20.00%-50.00%133.33%0.00%
Change in YoY Net Profit Growth (%)0.00%-55.00%-25.00%-650.00%888.46%-118.46%-70.00%183.33%-133.33%

Bal Pharma Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 9 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:5%
5 Years:12%
3 Years:3%
TTM:-14%
Compounded Profit Growth
10 Years:7%
5 Years:21%
3 Years:13%
TTM:-5%
Stock Price CAGR
10 Years:3%
5 Years:14%
3 Years:-3%
1 Year:-37%
Return on Equity
10 Years:4%
5 Years:9%
3 Years:9%
Last Year:10%

Last Updated: September 5, 2025, 12:20 am

Balance Sheet

Last Updated: December 4, 2025, 1:00 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 11131314141414151516161616
Reserves 39424248515238394448566262
Borrowings 51498993110124118110104131140150155
Other Liabilities 545967788671687698116108108116
Total Liabilities 155164211233260261238240261311320336349
Fixed Assets 55525660717071696776808792
CWIP 0142043020033
Investments 0000000000720
Other Assets 99111151172188187164172192235233244253
Total Assets 155164211233260261238240261311320336349

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 1315-19618232227-22320
Cash from Investing Activity + -7-5-14-8-4-8-5-6-9-22-19-15
Cash from Financing Activity + -8-732-640-20-17-1724-1-8
Net Cash Flow -22-1-81-0-20003-2
Free Cash Flow 69-34-2-3-1181918-16122
CFO/OP 81%93%-125%52%11%57%465%91%117%-4%88%75%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-33.00-32.00-74.00-78.00-93.00-106.00-113.00-85.00-80.00-106.00-109.00-120.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 9388105991111051069898113107111
Inventory Days 122132145172240217292146162207167238
Days Payable 129142163171182147167114143167147189
Cash Conversion Cycle 867887100168175231130117153127161
Working Capital Days 111450264525-11111813126
ROCE %11%7%8%8%7%-0%10%12%10%12%10%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 51.61%51.61%51.61%51.24%51.24%51.24%50.87%50.87%50.87%50.87%50.87%50.87%
FIIs 0.17%0.17%0.14%0.13%0.13%0.13%0.13%0.14%0.14%0.15%0.23%0.14%
Public 48.23%48.23%48.25%48.64%48.64%48.63%49.01%49.00%49.01%48.99%48.91%49.01%
No. of Shareholders 16,02915,86915,52915,06014,77215,01416,00715,66715,72315,82615,77415,520

Shareholding Pattern Chart

No. of Shareholders

Bal Pharma Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 4.544.941.673.793.34
Diluted EPS (Rs.) 4.544.961.683.793.34
Cash EPS (Rs.) 10.6811.087.499.959.60
Book Value[Excl.RevalReserv]/Share (Rs.) 48.6343.8240.6039.4635.99
Book Value[Incl.RevalReserv]/Share (Rs.) 48.6343.8240.6039.4635.99
Revenue From Operations / Share (Rs.) 190.37214.64193.89189.72169.02
PBDIT / Share (Rs.) 19.9521.7516.6119.3117.27
PBIT / Share (Rs.) 13.8115.3810.7913.2110.85
PBT / Share (Rs.) 3.235.723.036.202.77
Net Profit / Share (Rs.) 4.544.711.673.853.18
NP After MI And SOA / Share (Rs.) 4.534.681.643.793.20
PBDIT Margin (%) 10.4710.138.5610.1810.21
PBIT Margin (%) 7.257.165.566.966.41
PBT Margin (%) 1.692.661.563.261.63
Net Profit Margin (%) 2.382.190.862.021.88
NP After MI And SOA Margin (%) 2.382.170.841.991.89
Return on Networth / Equity (%) 9.3210.664.039.578.85
Return on Capital Employeed (%) 18.9220.8616.3020.6418.36
Return On Assets (%) 2.142.310.822.151.97
Long Term Debt / Equity (X) 0.400.520.470.460.44
Total Debt / Equity (X) 1.942.012.051.671.95
Asset Turnover Ratio (%) 0.921.071.061.120.99
Current Ratio (X) 1.071.151.091.111.08
Quick Ratio (X) 0.600.720.620.660.68
Inventory Turnover Ratio (X) 3.181.952.082.432.12
Dividend Payout Ratio (NP) (%) 26.4721.2260.5526.410.00
Dividend Payout Ratio (CP) (%) 11.248.9813.3010.110.00
Earning Retention Ratio (%) 73.5378.7839.4573.590.00
Cash Earning Retention Ratio (%) 88.7691.0286.7089.890.00
Interest Coverage Ratio (X) 1.882.252.142.752.14
Interest Coverage Ratio (Post Tax) (X) 1.431.491.211.551.39
Enterprise Value (Cr.) 274.72270.49228.31252.09180.34
EV / Net Operating Revenue (X) 0.900.790.750.890.71
EV / EBITDA (X) 8.657.878.768.817.05
MarketCap / Net Operating Revenue (X) 0.430.420.340.560.31
Retention Ratios (%) 73.5278.7739.4473.580.00
Price / BV (X) 1.712.081.652.731.49
Price / Net Operating Revenue (X) 0.430.420.340.560.31
EarningsYield 0.050.050.020.030.05

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Bal Pharma Ltd. is a Public Limited Listed company incorporated on 19/05/1987 and has its registered office in the State of Karnataka, India. Company's Corporate Identification Number(CIN) is L85110KA1987PLC008368 and registration number is 008368. Currently company belongs to the Industry of Pharmaceuticals. Company's Total Operating Revenue is Rs. 302.50 Cr. and Equity Capital is Rs. 15.92 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Pharmaceuticals# 21 & 22, Bengaluru Karnataka 560099Contact not found
Management
NamePosition Held
Mr. Shailesh D SiroyaManaging Director
Mr. Himesh VirupakshayaExecutive Director
Mr. Ravindrakumar KothariNon Executive Director
Mr. Jatish ShethIndependent Director
Ms. Nicloa NeeladriIndependent Director
Mr. H S VenkateshIndependent Director

FAQ

What is the intrinsic value of Bal Pharma Ltd and is it undervalued?

As of 02 May 2026, Bal Pharma Ltd's intrinsic value is ₹90.60, which is 18.74% higher than the current market price of ₹76.30, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (9.66 %), book value (₹49.2), dividend yield (1.57 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Bal Pharma Ltd?

Bal Pharma Ltd is trading at ₹76.30 as of 02 May 2026, with a FY2026-2027 high of ₹113 and low of ₹59.7. The stock is currently in the middle of its 52-week range. Market cap stands at ₹121 Cr..

How does Bal Pharma Ltd's P/E ratio compare to its industry?

Bal Pharma Ltd has a P/E ratio of 15.0, which is below the industry average of 59.48. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Bal Pharma Ltd financially healthy?

Key indicators for Bal Pharma Ltd: ROCE of 10.1 % is moderate. Dividend yield is 1.57 %.

Is Bal Pharma Ltd profitable and how is the profit trend?

Bal Pharma Ltd reported a net profit of ₹7 Cr in Mar 2025 on revenue of ₹303 Cr. Compared to ₹6 Cr in Mar 2022, the net profit shows an improving trend.

Does Bal Pharma Ltd pay dividends?

Bal Pharma Ltd has a dividend yield of 1.57 % at the current price of ₹76.30. The company pays dividends, though the yield is modest.

Last Updated: April 25, 2026, 10:24 pm
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 524824 | NSE: BALPHARMA
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Bal Pharma Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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