Balmer Lawrie Investment Ltd
Balmer Lawrie Investments Ltd is a Government Enterprise. It’s a major stakeholder of Balmer Lawrie & Co. Ltd. The company along with its subsidiaries is engaged in the business of Industrial Packaging, Greases & Lubricants, Leather Chemicals, etc. [1]
- Market Cap ₹ 1,630 Cr.
- Current Price ₹ 73.4
- High / Low ₹ 95.8 / 60.0
- Stock P/E 9.51
- Book Value ₹ 61.2
- Dividend Yield 5.85 %
- ROCE 17.2 %
- ROE 13.2 %
- Face Value ₹ 1.00
Pros
- Stock is trading at 1.20 times its book value
- Stock is providing a good dividend yield of 5.85%.
- Company has been maintaining a healthy dividend payout of 58.8%
Cons
- The company has delivered a poor sales growth of 10.1% over past five years.
- Company has a low return on equity of 12.1% 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 1,817 | 1,573 | 1,563 | 2,074 | 2,335 | 2,373 | 2,545 | 2,566 | |
| 1,547 | 1,347 | 1,413 | 1,883 | 2,110 | 2,024 | 2,193 | 2,227 | |
| Operating Profit | 270 | 226 | 150 | 191 | 225 | 349 | 352 | 339 |
| OPM % | 15% | 14% | 10% | 9% | 10% | 15% | 14% | 13% |
| 58 | 59 | 79 | 65 | 81 | 52 | 85 | 107 | |
| Interest | 7 | 15 | 12 | 14 | 18 | 22 | 27 | 29 |
| Depreciation | 30 | 52 | 55 | 57 | 57 | 59 | 60 | 62 |
| Profit before tax | 290 | 218 | 162 | 186 | 232 | 319 | 350 | 356 |
| Tax % | 30% | 26% | 26% | 26% | 26% | 24% | 24% | |
| 202 | 161 | 121 | 137 | 172 | 242 | 267 | 265 | |
| EPS in Rs | 5.79 | 4.76 | 3.59 | 3.97 | 5.00 | 6.96 | 7.73 | 7.72 |
| Dividend Payout % | 59% | 79% | 106% | 75% | 66% | 55% | 56% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 10% |
| 3 Years: | 7% |
| TTM: | 5% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 10% |
| 3 Years: | 25% |
| TTM: | 0% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 10% |
| 5 Years: | 17% |
| 3 Years: | 26% |
| 1 Year: | -7% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 10% |
| 3 Years: | 12% |
| Last Year: | 13% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 |
| Reserves | 1,052 | 1,081 | 1,076 | 1,094 | 1,117 | 1,199 | 1,354 | 1,337 |
| 81 | 122 | 125 | 122 | 121 | 113 | 106 | 237 | |
| 1,266 | 1,256 | 1,304 | 1,340 | 1,540 | 1,691 | 1,723 | 1,797 | |
| Total Liabilities | 2,420 | 2,482 | 2,527 | 2,578 | 2,801 | 3,025 | 3,204 | 3,393 |
| 568 | 770 | 767 | 767 | 760 | 751 | 737 | 789 | |
| CWIP | 117 | 24 | 32 | 11 | 28 | 52 | 67 | 79 |
| Investments | 325 | 375 | 386 | 436 | 518 | 565 | 632 | 669 |
| 1,410 | 1,313 | 1,341 | 1,364 | 1,495 | 1,657 | 1,769 | 1,855 | |
| Total Assets | 2,420 | 2,482 | 2,527 | 2,578 | 2,801 | 3,025 | 3,204 | 3,393 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| 177 | 187 | 247 | 23 | 206 | 280 | 164 | |
| -137 | -60 | -80 | 137 | -48 | -117 | 9 | |
| -61 | -159 | -153 | -148 | -145 | -172 | -183 | |
| Net Cash Flow | -21 | -32 | 14 | 12 | 13 | -9 | -10 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 56 | 63 | 67 | 55 | 56 | 66 | 69 |
| Inventory Days | 47 | 58 | 58 | 51 | 47 | 47 | 43 |
| Days Payable | 0 | 88 | 99 | 68 | 69 | 75 | 66 |
| Cash Conversion Cycle | 102 | 33 | 27 | 38 | 35 | 37 | 46 |
| Working Capital Days | 42 | 51 | 32 | 51 | 41 | 42 | 62 |
| ROCE % | 13% | 9% | 11% | 13% | 17% | 17% |
Documents
Announcements
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Announcement Under Regulation 30- Comments Of Board On Imposition Of Fine By BSE Ltd. On The Company
11 Nov - BSE fines for listing-regulation breaches for quarter ended 30 June 2025; Board sought waiver.
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Announcement under Regulation 30 (LODR)-Meeting Updates
11 Nov - Board approved Q2/H1 FY2025-26 results: standalone Q2 PAT Rs9,184.97L; consolidated H1 PAT Rs12,651.73L; auditor appointed; meeting Nov 11, 2025.
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Board Meeting Outcome for Outcome Of Board Meeting Dated 11Th November, 2025
11 Nov - Approved Q2/H1 FY2025-26 results to 30 Sep 2025; limited review unmodified; K.K. Chanani appointed statutory auditor.
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Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/s
11 Nov - C&AG appointed K.K. Chanani & Associates as statutory auditor for FY2025-26, effective 11 November 2025.
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Results- Unaudited Financial Results For The Second Quarter And Half Year Ended On 30Th September, 2025
11 Nov - Q2/H1 FY2025-26 unaudited results approved; standalone PAT Rs9,184.97L; consolidated PAT Rs12,651.73L.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Revenue Breakup
In FY21, dividend income from non-current investments accounted for ~91% of revenues and interest income from FDs accounted for the rest ~9% of revenues on standalone basis.[1]