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 ₹ 338 Cr.
- Current Price ₹ 142
- High / Low ₹ 148 / 72.6
- Stock P/E 46.3
- Book Value ₹ 32.8
- Dividend Yield 0.00 %
- ROCE 15.5 %
- 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
- Promoter holding has decreased over last quarter: -30.1%
- 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 192 days to 294 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 | 107.28 | 86.46 | |
Operating Profit | 6.88 | 4.39 | 7.10 | 11.27 | 10.90 | 12.26 |
OPM % | 11.71% | 6.00% | 7.63% | 10.07% | 9.22% | 12.42% |
0.85 | 0.46 | 0.53 | 0.05 | 0.09 | 2.00 | |
Interest | 2.18 | 1.79 | 2.59 | 2.64 | 2.93 | 3.58 |
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: | 40% |
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 | 16.77 | 10.22 | |
Total Liabilities | 59.18 | 69.19 | 77.43 | 91.77 | 82.99 | 116.08 |
7.54 | 7.17 | 6.76 | 5.97 | 5.90 | 5.62 | |
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 | 69.19 | 101.08 | |
Total Assets | 59.18 | 69.19 | 77.43 | 91.77 | 82.99 | 116.08 |
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 | -4.01 | -33.11 | |
-0.25 | -8.56 | -0.49 | 0.00 | -0.75 | 4.29 | |
-5.91 | 1.03 | -1.87 | 3.16 | 4.31 | 29.06 | |
Net Cash Flow | -0.07 | 0.34 | -0.26 | 0.86 | -0.45 | 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 | 36.55 | 34.72 |
Cash Conversion Cycle | 175.42 | 108.04 | 143.35 | 187.54 | 169.78 | 308.53 |
Working Capital Days | 151.01 | 123.26 | 111.84 | 125.22 | 156.68 | 294.42 |
ROCE % | 10.53% | 16.25% | 21.75% | 16.92% | 15.53% |
Documents
Announcements
-
Quarterly Compliance Report on Corporate governance - within 21 days from the end of the quarter
16 July 2025 - Balaji Phosphates listed on NSE Emerge SME; claims SEBI governance exemptions for Q1 FY26.
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Certificate under SEBI (Depositories and Participants) Regulations, 2018
16 July 2025 - Filing of SEBI Regulation 74(5) certificate for quarter ended June 30, 2025; no physical shares dematerialized.
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Copy of Newspaper Publication
9 July 2025 - Balaji Phosphates submits audited financial results for half year/year ended March 31, 2025.
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Related Party Transactions
8 July 2025 - Exempt from related party transaction disclosure for FY 2025 as per SEBI SME listing rules.
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Statement of deviation(s) or variation(s) under Reg. 32
7 July 2025 - IPO fund utilization report: Rs.41.58 Cr raised, no deviation, minor adjustments noted.
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.