Balmer Lawrie & Company Ltd

About [ edit ]

Balmer Lawrie & Co. 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.

  • Market Cap 2,369 Cr.
  • Current Price 139
  • High / Low 152 / 69.0
  • Stock P/E 28.6
  • Book Value 84.6
  • Dividend Yield 5.41 %
  • ROCE 11.5 %
  • ROE 10.5 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Stock is providing a good dividend yield of 5.41%.
  • Company has been maintaining a healthy dividend payout of 70.50%

Cons

  • The company has delivered a poor sales growth of -13.99% over past five years.
  • Company has a low return on equity of 11.82% for last 3 years.
  • Earnings include an other income of Rs.52.12 Cr.

Peer comparison

Sector: Diversified Industry: Diversified - Large

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
489 417 395 474 431 383 374 345 277 365 388
432 377 349 390 387 349 327 282 279 337 364
Operating Profit 56 40 45 84 44 34 48 64 -2 29 24
OPM % 12% 10% 12% 18% 10% 9% 13% 18% -1% 8% 6%
Other Income 12 11 15 20 10 13 9 19 8 15 10
Interest 1 1 2 3 3 3 4 5 4 3 2
Depreciation 7 7 7 10 11 10 11 19 13 13 14
Profit before tax 60 43 52 91 40 34 41 59 -11 27 18
Tax % 35% 38% 34% 33% 43% 20% 22% 38% 12% 29% 55%
Net Profit 39 27 39 61 24 39 43 38 -4 30 19
EPS in Rs 2.27 1.57 2.29 3.57 1.42 2.28 2.52 2.22 -0.23 1.73 1.13
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
1,962 1,958 2,384 2,669 3,013 3,120 3,254 1,591 1,702 1,720 1,772 1,532 1,376
1,829 1,838 2,185 2,456 2,779 2,908 3,031 1,386 1,492 1,502 1,543 1,342 1,262
Operating Profit 133 120 199 213 234 212 223 205 211 219 229 190 114
OPM % 7% 6% 8% 8% 8% 7% 7% 13% 12% 13% 13% 12% 8%
Other Income 72 91 44 47 55 70 64 63 56 51 55 51 52
Interest 18 26 24 23 23 24 23 5 5 4 7 15 14
Depreciation 23 31 31 35 38 35 46 24 26 27 30 52 60
Profit before tax 164 153 188 202 229 222 218 240 236 238 247 173 93
Tax % 33% 22% 32% 27% 27% 30% 30% 32% 34% 31% 35% 32%
Net Profit 108 120 128 148 167 156 152 164 155 165 199 161 83
EPS in Rs 6.34 7.00 7.51 8.67 9.79 9.09 8.89 9.58 9.05 9.66 11.65 9.43 4.85
Dividend Payout % 31% 32% 33% 31% 30% 27% 34% 35% 52% 69% 63% 80%
Compounded Sales Growth
10 Years:-2%
5 Years:-14%
3 Years:-3%
TTM:-17%
Compounded Profit Growth
10 Years:3%
5 Years:1%
3 Years:1%
TTM:-50%
Stock Price CAGR
10 Years:11%
5 Years:10%
3 Years:-2%
1 Year:40%
Return on Equity
10 Years:15%
5 Years:12%
3 Years:12%
Last Year:10%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
16 16 16 16 16 28 28 28 114 114 114 171 171
Reserves 481 551 634 742 847 953 1,015 1,210 1,247 1,342 1,406 1,383 1,277
Borrowings 154 219 205 210 196 175 197 0 0 15 81 122 117
633 577 633 657 668 724 670 559 669 720 682 660 688
Total Liabilities 1,284 1,363 1,489 1,625 1,726 1,880 1,911 1,798 2,030 2,191 2,282 2,335 2,253
319 366 373 415 452 464 577 393 397 410 568 770 745
CWIP 7 27 44 12 12 77 12 11 63 138 117 24 34
Investments 0 0 0 0 0 0 0 248 271 293 325 375 385
958 969 1,072 1,198 1,262 1,339 1,322 1,146 1,299 1,350 1,272 1,167 1,089
Total Assets 1,284 1,363 1,489 1,625 1,726 1,880 1,911 1,798 2,030 2,191 2,282 2,335 2,253

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
200 92 105 140 201 167 201 150 181 129 194 189
-66 -38 -61 -16 -45 -76 -42 -71 -117 -19 -137 -60
-5 -53 -40 -69 -101 -131 -143 -66 -73 -86 -78 -161
Net Cash Flow 130 1 3 56 55 -40 16 13 -9 24 -21 -32

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 31% 25% 26% 25% 25% 22% 20% 20% 18% 17% 16% 11%
Debtor Days 55 59 60 60 54 62 53 53 60 57 57 65
Inventory Turnover 2.81 2.82 7.37 7.35 8.22 8.18 7.95 2.68 8.16 7.66 8.17 6.61

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
2.47 2.37 1.76 1.60 1.57 1.54 1.54 1.50 1.51 1.47 1.44 1.76
7.72 7.67 7.63 7.73 7.73 7.14 6.48 5.74 5.75 5.76 5.42 4.83
0.05 0.05 0.00 0.00 0.00 0.00 0.02 0.02 0.02 0.02 0.02 0.02
89.76 89.91 90.61 90.67 90.70 91.32 91.96 92.74 92.72 92.74 93.12 93.38

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