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 21.9
- Book Value ₹ 43.0
- Dividend Yield 0.00 %
- ROCE 15.2 %
- ROE 12.0 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 48.4% 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 10.7% over past five years.
- Company has a low return on equity of 13.8% over last 3 years.
- Company might be capitalizing the interest cost
- Debtor days have increased from 116 to 145 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 59 | 103 | 127 | 145 | 152 | 127 | 170 | 193 | |
| Sales growth | +75% | +24% | +13% | +5% | -17% | +35% | +29% | |
| 52 | 98 | 120 | 133 | 139 | 113 | 151 | 168 | |
| Operating Profit | 7 | 5 | 8 | 12 | 12 | 13 | 19 | 24 |
| OPM % | 12% | 4.9% | 6% | 8% | 8% | 11% | 11% | 13% |
| 1 | 0 | 1 | 0 | 0 | 2 | 1 | 0 | |
| Interest | 2 | 2 | 3 | 3 | 3 | 4 | 4 | 4 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | 4 | 2 | 5 | 8 | 8 | 11 | 15 | 19 |
| Tax % | 43% | 45% | 30% | 26% | 28% | 26% | 32% | |
| 3 | 1 | 3 | 6 | 6 | 8 | 10 | 14 | |
| EPS in Rs | 0.76 | 1.81 | 3.42 | 3.39 | 3.33 | 4.30 | 5.84 | |
| Dividend Payout % | -0% | -0% | -0% | -0% | -0% | -0% | -0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 11% |
| 3 Years: | 6% |
| TTM: | 29% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 48% |
| 3 Years: | 19% |
| TTM: | 19% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 0% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 15% |
| 3 Years: | 14% |
| Last Year: | 12% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| 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 | 15 | 18 | 20 | 17 | 56 | 67 | 79 |
| 14 | 20 | 20 | 26 | 33 | 31 | 42 | 74 | |
| 26 | 32 | 40 | 42 | 20 | 13 | 30 | 32 | |
| Total Liabilities | 59 | 72 | 83 | 97 | 88 | 124 | 163 | 208 |
| 8 | 13 | 13 | 12 | 12 | 12 | 12 | 12 | |
| CWIP | -0 | -0 | -0 | -0 | -0 | 1 | 12 | 17 |
| Investments | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 |
| 52 | 59 | 70 | 85 | 77 | 111 | 139 | 180 | |
| Total Assets | 59 | 72 | 83 | 97 | 88 | 124 | 163 | 208 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 6 | 7 | 3 | -4 | -3 | -36 | 5 | |
| -0 | -7 | -1 | -0 | -1 | 5 | -13 | |
| -6 | 1 | -2 | 4 | 4 | 31 | 8 | |
| Net Cash Flow | -0 | 1 | 0 | 0 | -0 | 0 | -0 |
| Free Cash Flow | 6 | 14 | 3 | -4 | -4 | -39 | -8 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 108% | 159% | 55% | -21% | -9% | -238% | 30% |
Ratios
Consolidated / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 149 | 93 | 82 | 76 | 75 | 129 | 145 |
| Inventory Days | 196 | 116 | 94 | 152 | 106 | 173 | 186 |
| Days Payable | 169 | 125 | 60 | 70 | 33 | 31 | 62 |
| Cash Conversion Cycle | 175 | 83 | 116 | 157 | 148 | 271 | 270 |
| Working Capital Days | 102 | 48 | 50 | 58 | 67 | 174 | 152 |
| ROCE % | 12% | 17% | 22% | 19% | 16% | 15% |
Insights
In beta| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| SSP Capacity Utilization % ・Standalone data |
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| SSP Revenue Share of Total Revenue % |
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| NPK Granulated & Mix Capacity Utilization % ・Standalone data |
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| NPK Granulated & Mix Production Volume MT ・Standalone data |
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| SSP Production Volume MT ・Standalone data |
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| Weighbridge & Their Parts Revenue Share of Total Revenue % |
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| Zinc Sulphate Production Volume MT ・Standalone data |
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Extracted by Screener AI
Documents
Announcements
-
Outcome of Board Meeting
- Board approved H1 FY2026 results; consolidated PAT rose to Rs 11.69 crore, no IPO fund deviation.
-
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.
-
General Updates
- Submitted revised valuation reports on November 4, 2026 for equity shares and convertible warrants approval.
-
Structural Digital Database
- SDD compliance certificate for quarter ended 30 September 2026; no non-compliance observed.
-
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”.