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 ₹ 304 Cr.
- Current Price ₹ 128
- High / Low ₹ 150 / 78.8
- Stock P/E 23.8
- Book Value ₹ 41.7
- Dividend Yield 0.00 %
- ROCE 14.7 %
- ROE 11.4 %
- Face Value ₹ 10.0
Pros
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 12.9% over last 3 years.
- Company has high debtors of 170 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
Part of Nifty SME Emerge
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 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 59 | 73 | 93 | 112 | 118 | 99 | 135 | 157 | |
| Sales growth | +24% | +27% | +20% | +6% | -16% | +37% | +33% | |
| 52 | 69 | 86 | 101 | 107 | 86 | 118 | 135 | |
| Operating Profit | 7 | 4 | 7 | 11 | 11 | 12 | 17 | 22 |
| OPM % | 12% | 6% | 8% | 10% | 9% | 13% | 13% | 14% |
| 1 | 0 | 1 | 0 | 0 | 2 | 1 | 0 | |
| Interest | 2 | 2 | 3 | 3 | 3 | 4 | 3 | 4 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | 4 | 2 | 4 | 8 | 7 | 10 | 14 | 18 |
| Tax % | 43% | 46% | 30% | 27% | 28% | 25% | 31% | |
| 3 | 1 | 3 | 6 | 5 | 7 | 9 | 13 | |
| EPS in Rs | 0.62 | 1.62 | 3.25 | 2.92 | 3.07 | 3.97 | 5.36 | |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 13% |
| 3 Years: | 7% |
| TTM: | 33% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 53% |
| 3 Years: | 18% |
| TTM: | 14% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 0% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 14% |
| 3 Years: | 13% |
| Last Year: | 11% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 8 | 6 | 6 | 9 | 18 | 24 | 24 | 24 |
| Reserves | 11 | 14 | 17 | 19 | 16 | 54 | 64 | 75 |
| 14 | 20 | 20 | 26 | 33 | 28 | 36 | 65 | |
| 26 | 29 | 35 | 38 | 17 | 10 | 24 | 27 | |
| Total Liabilities | 59 | 69 | 77 | 92 | 83 | 116 | 148 | 191 |
| 8 | 7 | 7 | 6 | 6 | 6 | 7 | 6 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 1 | 10 | 15 |
| Investments | 0 | 8 | 8 | 8 | 8 | 8 | 8 | 8 |
| 52 | 54 | 63 | 78 | 69 | 101 | 123 | 161 | |
| Total Assets | 59 | 69 | 77 | 92 | 83 | 116 | 148 | 191 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 6 | 8 | 2 | -2 | 3 | -33 | 7 | |
| -0 | -9 | -0 | 0 | -8 | 4 | -12 | |
| -6 | 1 | -2 | 3 | 4 | 29 | 5 | |
| Net Cash Flow | -0 | 0 | -0 | 1 | -1 | 0 | -0 |
| Free Cash Flow | 6 | 9 | 2 | -2 | 2 | -35 | -4 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 108% | 195% | 36% | -11% | 44% | -230% | 44% |
Ratios
Standalone / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 149 | 124 | 101 | 86 | 88 | 155 | 170 |
| Inventory Days | 196 | 145 | 116 | 184 | 118 | 188 | 198 |
| Days Payable | 169 | 161 | 73 | 83 | 36 | 35 | 66 |
| Cash Conversion Cycle | 175 | 108 | 143 | 188 | 170 | 309 | 302 |
| Working Capital Days | 102 | 63 | 67 | 69 | 77 | 211 | 178 |
| ROCE % | 11% | 16% | 22% | 17% | 16% | 15% |
Insights
In beta| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| SSP Capacity Utilization % |
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| SSP Revenue Share of Total Revenue % |
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| NPK Granulated & Mix Capacity Utilization % |
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| NPK Granulated & Mix Production Volume MT |
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| SSP Production Volume MT |
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| Weighbridge & Their Parts Revenue Share of Total Revenue % |
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| Zinc Sulphate Production Volume MT |
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Extracted by Screener AI
Documents
Announcements
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Outcome of Board Meeting
- Board approved H1 FY2026 results; consolidated PAT rose to Rs 11.69 crore, no IPO fund deviation.
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Statement of deviation(s) or variation(s) under Reg. 32
- Submitted half-yearly IPO fund utilisation report for 30 Sep 2026; no deviation or variation reported.
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General Updates
- Submitted revised valuation reports on November 4, 2026 for equity shares and convertible warrants approval.
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Structural Digital Database
- SDD compliance certificate for quarter ended 30 September 2026; no non-compliance observed.
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Updates
- Regulation 57(5) not applicable for quarter ended 30 September 2026.
Business Overview:[1]
Balaji Phosphates manufactures phosphate-based fertilizers and micronutrients, including Single Super Phosphate (SSP), Granulated Single Super Phosphate (GSSP), NPK fertilizers, and Zinc Sulphate. Its products are marketed under the brands “RATNAM” and “BPPL”.