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 ₹ 319 Cr.
- Current Price ₹ 134
- High / Low ₹ 185 / 72.6
- Stock P/E 43.6
- Book Value ₹ 32.8
- 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 | |
|---|---|---|---|---|---|---|
| 58.76 | 73.11 | 93.01 | 111.93 | 118.18 | 98.72 | |
| 51.88 | 68.72 | 85.91 | 100.66 | 107.07 | 86.28 | |
| Operating Profit | 6.88 | 4.39 | 7.10 | 11.27 | 11.11 | 12.44 |
| OPM % | 11.71% | 6.00% | 7.63% | 10.07% | 9.40% | 12.60% |
| 0.85 | 0.46 | 0.53 | 0.05 | 0.09 | 2.00 | |
| Interest | 2.18 | 1.79 | 2.59 | 2.64 | 3.14 | 3.76 |
| Depreciation | 1.11 | 1.00 | 0.91 | 0.79 | 0.82 | 0.90 |
| Profit before tax | 4.44 | 2.06 | 4.13 | 7.89 | 7.24 | 9.78 |
| Tax % | 42.57% | 46.12% | 30.27% | 26.62% | 28.18% | 25.36% |
| 2.55 | 1.11 | 2.89 | 5.79 | 5.20 | 7.30 | |
| EPS in Rs | 1.87 | 4.86 | 6.49 | 2.92 | 3.07 | |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 11% |
| 3 Years: | 2% |
| TTM: | -16% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 23% |
| 3 Years: | 36% |
| TTM: | 41% |
| 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 | |
|---|---|---|---|---|---|---|
| Equity Capital | 8.24 | 5.95 | 5.95 | 8.92 | 17.84 | 23.78 |
| Reserves | 10.75 | 14.16 | 17.05 | 19.39 | 15.67 | 54.15 |
| 14.30 | 19.73 | 19.88 | 25.65 | 32.71 | 27.93 | |
| 25.89 | 29.35 | 34.55 | 37.81 | 16.72 | 10.21 | |
| Total Liabilities | 59.18 | 69.19 | 77.43 | 91.77 | 82.94 | 116.07 |
| 7.54 | 7.17 | 6.76 | 5.97 | 5.90 | 5.63 | |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.48 |
| Investments | 0.00 | 7.90 | 7.90 | 7.90 | 7.90 | 7.90 |
| 51.64 | 54.12 | 62.77 | 77.90 | 69.14 | 101.06 | |
| Total Assets | 59.18 | 69.19 | 77.43 | 91.77 | 82.94 | 116.07 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 6.08 | 7.87 | 2.10 | -2.30 | 2.71 | -33.11 | |
| -0.25 | -8.56 | -0.49 | 0.00 | -7.54 | 4.29 | |
| -5.91 | 1.03 | -1.87 | 3.16 | 4.10 | 29.06 | |
| Net Cash Flow | -0.07 | 0.34 | -0.26 | 0.86 | -0.73 | 0.24 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 148.71 | 123.61 | 101.21 | 86.19 | 87.84 | 154.95 |
| Inventory Days | 195.86 | 145.27 | 115.57 | 183.87 | 118.49 | 188.30 |
| Days Payable | 169.14 | 160.85 | 73.42 | 82.52 | 36.29 | 34.72 |
| Cash Conversion Cycle | 175.42 | 108.04 | 143.35 | 187.54 | 170.04 | 308.53 |
| Working Capital Days | 101.75 | 63.30 | 66.79 | 68.51 | 76.63 | 211.27 |
| ROCE % | 10.53% | 16.25% | 21.75% | 17.26% | 15.74% |
Documents
Announcements
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Structural Digital Database
13 October 2025 - Certifies SDD maintained; 0 UPSI events required/captured for quarter ended 30 Sept 2025.
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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.
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Certificate under SEBI (Depositories and Participants) Regulations, 2018
9 October 2025 - Filed Regulation 74(5) certificate for half-year ended 30 September 2025; RTA confirms no physical dematerialization.
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Shareholders meeting
3 October 2025 - 30 Sep 2025 AGM: financials adopted; NSE Emerge listing approved; MD remuneration up to Rs50 Lac; director Rs30.20 Lac.
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.