Balmer Lawrie Investment Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 8:36 pm

Market Cap	1,702 Cr.
Current Price	76.7
High / Low	108/49.5
Stock P/E	9.89
Book Value	56.7
Dividend Yield	4.96 %
ROCE	17.8 %
ROE	14.2 %
Face Value	1.00
PEG Ratio	0.59

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

Stock P/E Current Price Intrinsic Value

View Share Price Target for

Competitors of

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
Mufin Green Finance Ltd	1,762 Cr.	108	274/90.4	91.1	16.0	0.00 %	10.6 %	8.27 %	1.00
Mukesh Babu Financial Services Ltd	105 Cr.	151	181/111	19.1	490	0.80 %	3.62 %	2.40 %	10.0
Nalin Lease Finance Ltd	44.0 Cr.	67.0	99.9/37.0	11.0	51.1	0.00 %	17.4 %	13.1 %	10.0
India Cements Capital Ltd	38.0 Cr.	17.5	26.4/13.5	42.7	8.43	0.00 %	3.50 %	8.87 %	10.0
Indergiri Finance Ltd	15.7 Cr.	31.0	71.3/26.8		8.26	0.00 %	7.67 %	14.0 %	10.0
Industry Average	18,820.20 Cr	650.87		38.13	563.11	0.17%	19.97%	10.57%	8.67

All Competitor Stocks of

Quarterly Result

Month	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
Sales	488	490	506	577	649	553	516	610	594	587	587	579	641
Expenses	450	457	470	518	587	513	464	556	528	511	511	485	574
Operating Profit	37	34	37	58	62	40	52	55	67	77	76	94	66
OPM %	8%	7%	7%	10%	10%	7%	10%	9%	11%	13%	13%	16%	10%
Other Income	25	18	14	33	24	24	15	35	24	28	27	30	31
Interest	4	3	4	3	5	4	5	5	6	5	5	6	6
Depreciation	14	14	14	14	14	14	14	14	15	14	14	15	14
Profit before tax	44	35	33	74	68	46	47	70	70	85	83	103	76
Tax %	18%	22%	17%	36%	17%	24%	22%	38%	18%	25%	19%	27%	15%
Net Profit	36	27	27	47	56	35	37	44	57	64	68	75	65
EPS in Rs	1.05	0.79	0.80	1.35	1.60	1.02	1.10	1.27	1.66	1.83	1.94	2.14	1.86

Last Updated: October 7, 2024, 8:32 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: September 23, 2024, 2:56 pm

Month	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	1,817	1,573	1,563	2,074	2,335	2,373	2,394
Expenses	1,547	1,347	1,413	1,883	2,110	2,024	2,082
Operating Profit	270	226	150	191	225	349	313
OPM %	15%	14%	10%	9%	10%	15%	13%
Other Income	58	59	79	65	81	73	116
Interest	7	15	12	14	18	22	22
Depreciation	30	52	55	57	57	59	59
Profit before tax	290	218	162	186	232	341	348
Tax %	30%	26%	26%	26%	26%	23%
Net Profit	202	161	121	137	172	264	271
EPS in Rs	5.79	4.76	3.59	3.97	5.00	7.57	7.77
Dividend Payout %	59%	79%	106%	75%	66%	50%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	-20.30%	-24.84%	13.22%	25.55%	53.49%
Change in YoY Net Profit Growth (%)	0.00%	-4.55%	38.07%	12.32%	27.94%

has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 5 years from 2019-2020 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:	%
5 Years:	5%
3 Years:	15%
TTM:	6%

Compounded Profit Growth
10 Years:	%
5 Years:	5%
3 Years:	28%
TTM:	32%

Stock Price CAGR
10 Years:	12%
5 Years:	13%
3 Years:	24%
1 Year:	45%

Return on Equity
10 Years:	%
5 Years:	10%
3 Years:	11%
Last Year:	14%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 5:45 pm

Month	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	22	22	22	22	22	22	22
Reserves	1,052	1,081	1,076	1,094	1,117	1,199	1,236
Borrowings	81	122	125	122	121	113	124
Other Liabilities	1,266	1,256	1,304	1,340	1,540	1,691	1,682
Total Liabilities	2,420	2,482	2,527	2,578	2,801	3,025	3,064
Fixed Assets	568	770	767	767	760	751	730
CWIP	117	24	32	11	28	52	64
Investments	325	375	386	436	518	565	597
Other Assets	1,410	1,313	1,341	1,364	1,495	1,657	1,673
Total Assets	2,420	2,482	2,527	2,578	2,801	3,025	3,064

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	177	187	247	23	206	269
Cash from Investing Activity +	-137	-60	-80	137	-48	-105
Cash from Financing Activity +	-61	-159	-153	-148	-145	-172
Net Cash Flow	-21	-32	14	12	13	-9

Free Cash Flow

Month	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	189.00	104.00	25.00	69.00	104.00	236.00

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

Month	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	56	63	67	55	56	66
Inventory Days	47	58	58	51	47	47
Days Payable	0	88	99	68	69	75
Cash Conversion Cycle	102	33	27	38	35	37
Working Capital Days	42	51	32	51	41	42
ROCE %		13%	9%	11%	13%	18%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoters	59.67%	59.67%	59.67%	59.67%	59.67%	59.67%	59.67%	59.67%	59.67%	59.67%	59.67%	59.67%
FIIs	4.27%	3.35%	1.25%	0.67%	0.66%	0.32%	0.38%	0.68%	0.82%	1.08%	1.33%	1.31%
DIIs	0.14%	0.15%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.02%
Public	35.91%	36.83%	38.93%	39.51%	39.51%	39.87%	39.81%	39.51%	39.37%	39.11%	38.85%	39.00%
No. of Shareholders	18,348	20,106	21,537	23,572	23,217	23,265	23,359	26,514	23,794	22,802	24,873	41,756

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	75.68	49.98	39.88	35.92	72.48
Diluted EPS (Rs.)	75.68	49.98	39.88	35.92	72.48
Cash EPS (Rs.)	119.31	75.86	66.88	64.41	79.28
Book Value[Excl.RevalReserv]/Share (Rs.)	549.97	500.91	788.73	777.64	784.61
Book Value[Incl.RevalReserv]/Share (Rs.)	549.97	500.91	788.73	777.64	784.61
Revenue From Operations / Share (Rs.)	1057.87	1048.95	928.38	692.07	695.30
PBDIT / Share (Rs.)	164.10	110.61	94.86	88.56	111.88
PBIT / Share (Rs.)	137.44	85.02	69.73	63.78	88.58
PBT / Share (Rs.)	127.51	76.94	63.60	58.41	81.88
Net Profit / Share (Rs.)	92.65	50.28	41.74	39.62	55.97
NP After MI And SOA / Share (Rs.)	75.68	49.98	39.88	35.92	47.63
PBDIT Margin (%)	15.51	10.54	10.21	12.79	16.09
PBIT Margin (%)	12.99	8.10	7.51	9.21	12.73
PBT Margin (%)	12.05	7.33	6.85	8.43	11.77
Net Profit Margin (%)	8.75	4.79	4.49	5.72	8.05
NP After MI And SOA Margin (%)	7.15	4.76	4.29	5.18	6.84
Return on Networth / Equity (%)	13.76	9.97	7.92	7.26	9.58
Return on Capital Employeed (%)	13.21	8.76	7.56	7.09	9.90
Return On Assets (%)	5.55	3.96	3.43	3.15	4.26
Long Term Debt / Equity (X)	0.05	0.07	0.07	0.08	0.08
Total Debt / Equity (X)	0.06	0.08	0.08	0.08	0.08
Asset Turnover Ratio (%)	0.80	0.86	0.05	0.06	0.06
Current Ratio (X)	2.29	2.29	2.54	2.51	2.62
Quick Ratio (X)	2.02	1.98	2.16	2.20	2.32
Inventory Turnover Ratio (X)	7.48	7.88	0.00	0.00	0.00
Dividend Payout Ratio (NP) (%)	43.60	60.02	95.29	104.40	71.38
Dividend Payout Ratio (CP) (%)	32.24	39.70	58.45	61.77	47.93
Earning Retention Ratio (%)	56.40	39.98	4.71	-4.40	28.62
Cash Earning Retention Ratio (%)	67.76	60.30	41.55	38.23	52.07
Interest Coverage Ratio (X)	16.52	13.69	15.49	16.50	16.70
Interest Coverage Ratio (Post Tax) (X)	10.33	7.22	7.82	8.38	9.36
Enterprise Value (Cr.)	1534.20	1027.01	1008.40	1085.04	782.99
EV / Net Operating Revenue (X)	0.65	0.44	0.48	0.70	0.50
EV / EBITDA (X)	4.21	4.18	4.79	5.52	3.15
MarketCap / Net Operating Revenue (X)	0.57	0.33	0.39	0.67	0.41
Retention Ratios (%)	56.39	39.97	4.70	-4.40	28.61
Price / BV (X)	1.11	0.70	0.73	0.94	0.58
Price / Net Operating Revenue (X)	0.57	0.33	0.39	0.67	0.41
EarningsYield	0.12	0.14	0.10	0.07	0.16

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of as of December 22, 2024 is: 83.58

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of December 22, 2024, is Undervalued by 8.97% compared to the current share price 76.70

Intrinsic Value of as of December 22, 2024 is: 97.54

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of December 22, 2024, is Undervalued by 27.17% compared to the current share price 76.70

Last 5 Year EPS CAGR: 16.70%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The company has higher reserves (1,122.14 cr) compared to borrowings (115.43 cr), indicating strong financial stability. The company has shown consistent growth in sales (1.57 cr) and profit (253.86 cr) over the years.	The stock has a low average ROCE of 10.67%, which may not be favorable. The stock has a high average Working Capital Days of 43.17, which may not be favorable. The stock has a high average Cash Conversion Cycle of 45.33, which may not be favorable.

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in :
1. Net Profit Margin: 8.75%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 13.21% (Industry Average ROCE: 19.97%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 13.76% (Industry Average ROE: 10.57%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 10.33
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 2.02
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 9.89 (Industry average Stock P/E: 38.13)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0.06
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

Balmer Lawrie Investments Ltd. is a Public Limited Listed company incorporated on 20/09/2001 and has its registered office in the State of West Bengal, India. Company’s Corporate Identification Number(CIN) is L65999WB2001GOI093759 and registration number is 093759. Currently company belongs to the Industry of Finance & Investments. Company’s Total Operating Revenue is Rs. 69.30 Cr. and Equity Capital is Rs. 22.20 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Non-Banking Financial Company (NBFC)	21, Netaji Subhas Road, Kolkata West Bengal 700001	lahoti.a@balmerlawrie.com http://www.blinv.com

Management
Name	Position Held
Mr. Saurav Dutta	Non Executive Chairman
Mr. Arvind Nath Jha	Government Nominee Director
Mr. Samir Kumar Mohanty	Government Nominee Director

FAQ

What is the latest intrinsic value of ?

The latest intrinsic value of as on 22 December 2024 is ₹83.58, which is 8.97% higher than the current market price of ₹76.70. The stock has a market capitalization of 1,702 Cr. and recorded a high/low of 108/49.5 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹1,236 Cr and total liabilities of ₹3,064 Cr.

What is the Market Cap of ?

The Market Cap of is 1,702 Cr..

What is the current Stock Price of as on 22 December 2024?

The current stock price of as on 22 December 2024 is 76.7.

What is the High / Low of stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of stocks is 108/49.5.

What is the Stock P/E of ?

The Stock P/E of is 9.89.

What is the Book Value of ?

The Book Value of is 56.7.

What is the Dividend Yield of ?

The Dividend Yield of is 4.96 %.

What is the ROCE of ?

The ROCE of is 17.8 %.

What is the ROE of ?

The ROE of is 14.2 %.

What is the Face Value of ?

The Face Value of is 1.00.