Balmer Lawrie & Company Ltd
Balmer Lawrie & Company Ltd is engaged in the business of Industrial Packaging, Greases & Lubricants, Leather Chemicals, Logistic Services and Infrastructure, Refinery & Oil Field and Travel & Vacation Services in India. [1]
It is a central public-sector undertaking under the administrative control of Ministry of Petroleum and Natural Gas, GoI, since 1972.[2]
- Market Cap ₹ 3,101 Cr.
- Current Price ₹ 181
- High / Low ₹ 238 / 147
- Stock P/E 11.7
- Book Value ₹ 114
- Dividend Yield 4.69 %
- ROCE 14.8 %
- ROE 14.0 %
- Face Value ₹ 10.0
Pros
- Stock is providing a good dividend yield of 4.69%.
- Company has been maintaining a healthy dividend payout of 63.3%
Cons
- The company has delivered a poor sales growth of 10.3% over past five years.
- Company has a low return on equity of 12.8% over last 3 years.
* 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 3,120 | 3,254 | 1,591 | 1,702 | 1,720 | 1,772 | 1,532 | 1,526 | 2,051 | 2,312 | 2,328 | 2,505 | 2,555 | |
| 2,908 | 3,031 | 1,386 | 1,492 | 1,502 | 1,539 | 1,342 | 1,385 | 1,882 | 2,109 | 2,023 | 2,192 | 2,226 | |
| Operating Profit | 212 | 223 | 205 | 211 | 219 | 233 | 189 | 141 | 169 | 202 | 305 | 313 | 329 |
| OPM % | 7% | 7% | 13% | 12% | 13% | 13% | 12% | 9% | 8% | 9% | 13% | 12% | 13% |
| 70 | 64 | 63 | 56 | 51 | 51 | 51 | 49 | 37 | 37 | 51 | 50 | 46 | |
| Interest | 24 | 23 | 5 | 5 | 4 | 7 | 15 | 12 | 14 | 18 | 22 | 27 | 29 |
| Depreciation | 35 | 46 | 24 | 26 | 27 | 30 | 52 | 55 | 57 | 57 | 59 | 60 | 62 |
| Profit before tax | 222 | 218 | 240 | 236 | 238 | 247 | 173 | 123 | 136 | 164 | 274 | 276 | 285 |
| Tax % | 30% | 30% | 32% | 34% | 31% | 35% | 32% | 33% | 35% | 35% | 27% | 29% | |
| 156 | 152 | 164 | 155 | 165 | 197 | 155 | 115 | 134 | 168 | 236 | 259 | 258 | |
| EPS in Rs | 9.09 | 8.89 | 9.58 | 9.05 | 9.66 | 11.65 | 9.43 | 7.04 | 8.05 | 10.05 | 14.02 | 15.55 | 15.50 |
| Dividend Payout % | 27% | 34% | 35% | 52% | 69% | 63% | 80% | 85% | 81% | 75% | 61% | 55% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | -3% |
| 5 Years: | 10% |
| 3 Years: | 7% |
| TTM: | 5% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 6% |
| 5 Years: | 10% |
| 3 Years: | 25% |
| TTM: | -1% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 7% |
| 5 Years: | 9% |
| 3 Years: | 15% |
| 1 Year: | -5% |
| Return on Equity | |
|---|---|
| 10 Years: | 12% |
| 5 Years: | 11% |
| 3 Years: | 13% |
| Last Year: | 14% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 28 | 28 | 28 | 114 | 114 | 114 | 171 | 171 | 171 | 171 | 171 | 171 | 171 |
| Reserves | 953 | 1,015 | 1,210 | 1,247 | 1,342 | 1,406 | 1,383 | 1,371 | 1,416 | 1,510 | 1,650 | 1,798 | 1,773 |
| 175 | 197 | 0 | 0 | 15 | 81 | 120 | 125 | 122 | 121 | 113 | 106 | 237 | |
| 724 | 670 | 559 | 669 | 720 | 682 | 660 | 712 | 736 | 860 | 939 | 966 | 1,049 | |
| Total Liabilities | 1,880 | 1,911 | 1,798 | 2,030 | 2,191 | 2,282 | 2,334 | 2,379 | 2,445 | 2,662 | 2,873 | 3,040 | 3,230 |
| 464 | 577 | 393 | 397 | 410 | 568 | 770 | 767 | 767 | 760 | 751 | 737 | 789 | |
| CWIP | 77 | 12 | 11 | 63 | 138 | 117 | 24 | 32 | 11 | 28 | 52 | 67 | 79 |
| Investments | 0 | 0 | 248 | 271 | 293 | 325 | 375 | 386 | 436 | 518 | 565 | 632 | 669 |
| 1,339 | 1,322 | 1,146 | 1,299 | 1,350 | 1,272 | 1,165 | 1,194 | 1,231 | 1,356 | 1,505 | 1,604 | 1,693 | |
| Total Assets | 1,880 | 1,911 | 1,798 | 2,030 | 2,191 | 2,282 | 2,334 | 2,379 | 2,445 | 2,662 | 2,873 | 3,040 | 3,230 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 167 | 201 | 150 | 181 | 129 | 194 | 189 | 244 | 2 | 208 | 274 | 156 | |
| -76 | -42 | -71 | -117 | -19 | -137 | -60 | -80 | 137 | -48 | -105 | 23 | |
| -131 | -143 | -66 | -73 | -86 | -78 | -162 | -149 | -127 | -147 | -178 | -189 | |
| Net Cash Flow | -40 | 16 | 13 | -9 | 24 | -21 | -34 | 15 | 12 | 12 | -9 | -10 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 62 | 53 | 53 | 60 | 57 | 57 | 65 | 69 | 56 | 57 | 67 | 70 |
| Inventory Days | 48 | 48 | 77 | 51 | 46 | 47 | 57 | 59 | 51 | 46 | 66 | 67 |
| Days Payable | 53 | 44 | 144 | 104 | 108 | 96 | 88 | 100 | 69 | 68 | 108 | 104 |
| Cash Conversion Cycle | 57 | 56 | -14 | 8 | -4 | 8 | 35 | 28 | 38 | 35 | 25 | 33 |
| Working Capital Days | 23 | 23 | -24 | 30 | 39 | 44 | 49 | 30 | 49 | 39 | 39 | 62 |
| ROCE % | 22% | 20% | 20% | 18% | 17% | 16% | 11% | 8% | 8% | 10% | 16% | 15% |
Documents
Announcements
-
Closure of Trading Window
27 Jan - Board meeting on 6 Feb 2026 to approve Q3 and nine-month unaudited results for period ended 31 Dec 2025.
-
Board Meeting Intimation for Prior Intimation For Board Meeting To Be Held On 6Th February, 2026
27 Jan - Board meeting 6 Feb 2026 to approve Q3/9M results; trading window closed from 1 Jan till 48 hours after results.
-
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
14 Jan - SEBI Reg.74(5) certificate for quarter ended 31 Dec 2025 from KFin Technologies (Balmer Lawrie).
- Closure of Trading Window 24 Dec 2025
-
Disclosure Under Regulation 30 Of SEBI ('SEBI') (LODR) Regulations, 2015 (As Amended) ('Listing Regulations') - Change In Senior Management Of The Company
1 Dec 2025 - Ashok K. Gupta and Thiyagarajan S re-designated to Travel & Vacations leadership, effective 15 Oct 2025; term 1.29 years.
Annual reports
-
Financial Year 2025
from bse
-
Financial Year 2024
from bse
-
Financial Year 2023
from bse
-
Financial Year 2022
from bse
-
Financial Year 2021
from bse
-
Financial Year 2020
from bse
-
Financial Year 2019
from bse
-
Financial Year 2018
from bse
-
Financial Year 2017
from bse
-
Financial Year 2016
from bse
-
Financial Year 2015
from bse
-
Financial Year 2014
from bse
-
Financial Year 2013
from bse
-
Financial Year 2012
from bse
-
Financial Year 2011
from nse
Business Units