Balaji Phosphates Ltd
Incorporated in 1996, Balaji Phosphates Limited manufactures and supplies Single Super Phosphate (SSP), NPK Granulated and Mixed Fertilizers, and Zinc Sulphate.[1]
- Market Cap ₹ 352 Cr.
- Current Price ₹ 148
- High / Low ₹ 185 / 72.6
- Stock P/E 31.4
- Book Value ₹ 36.1
- Dividend Yield 0.00 %
- ROCE 15.7 %
- ROE 13.1 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 23.4% CAGR over last 5 years
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- The company has delivered a poor sales growth of 10.9% over past five years.
- Company has high debtors of 155 days.
- Working capital days have increased from 119 days to 211 days
* 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
Commodities Chemicals Fertilizers & Agrochemicals Fertilizers
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|
| 59 | 73 | 93 | 112 | 118 | 99 | 118 | |
| 52 | 69 | 86 | 101 | 107 | 86 | 99 | |
| Operating Profit | 7 | 4 | 7 | 11 | 11 | 12 | 19 |
| OPM % | 12% | 6% | 8% | 10% | 9% | 13% | 16% |
| 1 | 0 | 1 | 0 | 0 | 2 | 1 | |
| Interest | 2 | 2 | 3 | 3 | 3 | 4 | 3 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | 4 | 2 | 4 | 8 | 7 | 10 | 15 |
| Tax % | 43% | 46% | 30% | 27% | 28% | 25% | |
| 3 | 1 | 3 | 6 | 5 | 7 | 11 | |
| EPS in Rs | 1.87 | 4.86 | 6.49 | 2.92 | 3.07 | 4.72 | |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 11% |
| 3 Years: | 2% |
| TTM: | 38% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 23% |
| 3 Years: | 36% |
| TTM: | 156% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 15% |
| 3 Years: | 16% |
| Last Year: | 13% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 8 | 6 | 6 | 9 | 18 | 24 | 24 |
| Reserves | 11 | 14 | 17 | 19 | 16 | 54 | 62 |
| 14 | 20 | 20 | 26 | 33 | 28 | 35 | |
| 26 | 29 | 35 | 38 | 17 | 10 | 19 | |
| Total Liabilities | 59 | 69 | 77 | 92 | 83 | 116 | 140 |
| 8 | 7 | 7 | 6 | 6 | 6 | 7 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 1 | 5 |
| Investments | 0 | 8 | 8 | 8 | 8 | 8 | 8 |
| 52 | 54 | 63 | 78 | 69 | 101 | 120 | |
| Total Assets | 59 | 69 | 77 | 92 | 83 | 116 | 140 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 6 | 8 | 2 | -2 | 3 | -33 | |
| -0 | -9 | -0 | 0 | -8 | 4 | |
| -6 | 1 | -2 | 3 | 4 | 29 | |
| Net Cash Flow | -0 | 0 | -0 | 1 | -1 | 0 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 149 | 124 | 101 | 86 | 88 | 155 |
| Inventory Days | 196 | 145 | 116 | 184 | 118 | 188 |
| Days Payable | 169 | 161 | 73 | 83 | 36 | 35 |
| Cash Conversion Cycle | 175 | 108 | 143 | 188 | 170 | 309 |
| Working Capital Days | 102 | 63 | 67 | 69 | 77 | 211 |
| ROCE % | 11% | 16% | 22% | 17% | 16% |
Documents
Announcements
-
Outcome of Board Meeting
14 November 2025 - Approved unaudited H1 results (Sep 30, 2025): standalone PAT Rs501.28L, consolidated PAT Rs804.81L.
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Outcome of Board Meeting
14 November 2025 - Approved unaudited results for half-year Sep 30, 2025: standalone PAT Rs 501.28 lakh; consolidated PAT Rs 804.81 lakh.
-
Structural Digital Database
13 October 2025 - Certifies SDD maintained; 0 UPSI events required/captured for quarter ended 30 Sept 2025.
-
Updates
9 October 2025 - Regulation 57(5) not applicable; no non-convertible securities payments for quarter ended 30 Sep 2025.
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Quarterly Compliance Report on Corporate governance - within 21 days from the end of the quarter
9 October 2025 - Company claims Regulation 15(2) SME exemption for quarter/half year ended 30.09.2025; NSE Emerge listing w.e.f. 07.03.2025.
Product Portfolio[1]
a) Single Super Phosphate (SSP) – Available in powder and granular forms.
b) NPK Granulated & Mixed Fertilizers – Various grades: 12:32:06, 15:05:05, 16:30:10, 17:17:17, 20:20:00, 10:20:10.
c) Zinc Sulphate – Available in 21% and 33% purity.
d) Fortified SSP with Zinc & Boron – Zincated SSP and Boronated SSP in powder and granular forms.