BALMLAWRIE

Balmer Lawrie & Company Limited

Diversified industrial and services group offering packaging, logistics, travel and lubricants

Diversified›Diversified›Diversified›Diversified

balmerlawrie.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹159.25
Market cap
2,721 Cr
Stock P/E
9.7
P/B
1.31
Dividend yield
7.8%
ROE (FY26)
13.3%
ROCE (FY26)
18.0%
Operating margin (FY26)
10.1%
Debt / equity (FY26)
0.04
OCF / EBITDA (FY26)
82.4%
OCF / EBITDA (3Y)
74.3%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Balmer Lawrie is a diversified public sector undertaking (PSU) that makes industrial packaging, greases and lubricants and chemicals, and runs logistics and travel businesses in India.

Company snapshot

4thBy market cap

Ranked among 6 companies in Diversified.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 34.1% of revenue

SegmentRevenue shareRevenuePBTAssets
Greases & Lubricants
24.7%
471 Cr56 Cr—
Industrial Packaging
34.1%
650 Cr43 Cr—
Logistics Infrastructure
10.1%
192 Cr20 Cr—
Logistics Services
22.1%
421 Cr61 Cr—
Others
5.0%
96 Cr-58 Cr—
Travel & Vacations
11.1%
213 Cr84 Cr—

Shares add up to 107% because segment revenues are before inter-segment eliminations.

What we see

Positives
  • ✓Debt-to-equity of 0.04x — the company is largely funded by its own money, not borrowed funds.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales586 Cr585 Cr577 Cr638 Cr639 Cr630 Cr608 Cr681 Cr635 Cr657 Cr744 Cr749 Cr
Operating expenses (approx.)511 Cr511 Cr485 Cr574 Cr569 Cr546 Cr514 Cr597 Cr568 Cr571 Cr630 Cr649 Cr
EBITDA75 Cr74 Cr91 Cr64 Cr70 Cr84 Cr95 Cr83 Cr67 Cr86 Cr114 Cr100 Cr
OPM %12.8%12.6%15.9%10.0%11.0%13.3%15.6%12.2%10.6%13.1%15.3%13.3%
Other income13 Cr11 Cr18 Cr12 Cr11 Cr9 Cr18 Cr9 Cr11 Cr7 Cr20 Cr11 Cr
Interest5 Cr5 Cr6 Cr6 Cr5 Cr9 Cr6 Cr7 Cr7 Cr10 Cr10 Cr13 Cr
Depreciation14 Cr14 Cr15 Cr15 Cr14 Cr15 Cr16 Cr14 Cr16 Cr18 Cr28 Cr20 Cr
Profit before tax84 Cr81 Cr100 Cr74 Cr80 Cr82 Cr105 Cr87 Cr55 Cr83 Cr113 Cr92 Cr
Tax %25.2%18.8%26.8%14.9%23.6%24.3%29.8%22.4%30.7%22.1%26.8%23.2%
Net profit63 Cr66 Cr73 Cr63 Cr61 Cr62 Cr74 Cr67 Cr55 Cr65 Cr83 Cr71 Cr
EPS (₹)₹3.74₹3.89₹4.32₹3.73₹3.66₹3.77₹4.39₹4.03₹3.31₹3.89₹4.95₹4.18

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,758 Cr1,775 Cr1,534 Cr1,529 Cr2,055 Cr2,321 Cr2,339 Cr2,516 Cr2,717 CrSign in free for the trailing twelve months
Operating expenses (approx.)1,539 Cr1,549 Cr1,345 Cr1,389 Cr1,886 Cr2,119 Cr2,035 Cr2,203 Cr2,366 CrSign in free for the trailing twelve months
EBITDA219 Cr226 Cr189 Cr140 Cr169 Cr202 Cr305 Cr313 Cr351 CrSign in free for the trailing twelve months
OPM %12.4%12.7%12.3%9.2%8.2%8.7%13.0%12.4%12.9%Sign in free for the trailing twelve months
Other income51 Cr58 Cr51 Cr49 Cr37 Cr37 Cr51 Cr50 Cr46 CrSign in free for the trailing twelve months
Interest4 Cr7 Cr15 Cr12 Cr14 Cr18 Cr22 Cr27 Cr33 CrSign in free for the trailing twelve months
Depreciation27 Cr30 Cr52 Cr55 Cr56 Cr57 Cr59 Cr60 Cr76 CrSign in free for the trailing twelve months
Profit before tax238 Cr247 Cr210 Cr155 Cr182 Cr225 Cr333 Cr340 Cr356 CrSign in free for the trailing twelve months
Tax %30.8%34.7%26.3%25.8%26.0%25.5%22.6%23.8%24.0%Sign in free for the trailing twelve months
Net profit165 Cr161 Cr155 Cr115 Cr135 Cr168 Cr257 Cr259 Cr270 CrSign in free for the trailing twelve months
EPS (₹)₹28.92₹14.13₹9.43₹7.04₹8.07₹10.05₹15.30₹15.55₹16.18Sign in free for the trailing twelve months
Dividend payout %———110.8%75.9%66.2%49.8%55.9%78.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital114 Cr114 Cr171 Cr171 Cr171 Cr171 Cr171 Cr171 Cr171 Cr
Reserves1,142 Cr1,406 Cr1,383 Cr1,371 Cr1,417 Cr1,510 Cr1,650 Cr1,798 Cr1,898 Cr
Borrowings15 Cr79 Cr96 Cr102 Cr95 Cr89 Cr77 Cr76 Cr75 Cr
Other liabilities581 Cr631 Cr642 Cr696 Cr728 Cr860 Cr948 Cr975 Cr1,191 Cr
Total liabilities1,852 Cr2,281 Cr2,335 Cr2,379 Cr2,446 Cr2,662 Cr2,873 Cr3,040 Cr3,349 Cr
Fixed assets (net)395 Cr563 Cr640 Cr636 Cr641 Cr634 Cr624 Cr619 Cr649 Cr
CWIP13 Cr117 Cr24 Cr32 Cr11 Cr27 Cr52 Cr67 Cr34 Cr
Investments138 Cr326 Cr376 Cr387 Cr437 Cr519 Cr566 Cr632 Cr730 Cr
Loans & advances—5 Cr9 Cr9 Cr9 Cr9 Cr3 Cr3 Cr2 Cr
Inventories137 Cr143 Cr145 Cr160 Cr201 Cr205 Cr193 Cr193 Cr169 Cr
Trade receivables271 Cr276 Cr274 Cr288 Cr315 Cr361 Cr427 Cr479 Cr535 Cr
Cash & bank51 Cr53 Cr23 Cr36 Cr48 Cr60 Cr51 Cr41 Cr34 Cr
Other assets847 Cr797 Cr846 Cr831 Cr785 Cr846 Cr957 Cr1,006 Cr1,196 Cr
Total assets1,852 Cr2,281 Cr2,335 Cr2,379 Cr2,446 Cr2,662 Cr2,873 Cr3,040 Cr3,349 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity—194 Cr189 Cr244 Cr2 Cr208 Cr274 Cr156 Cr289 Cr
Cash from investing—-137 Cr-60 Cr-80 Cr137 Cr-48 Cr-105 Cr23 Cr-38 Cr
Cash from financing—-80 Cr-161 Cr-149 Cr-127 Cr-147 Cr-178 Cr-189 Cr-259 Cr
Net cash flow—-23 Cr-32 Cr15 Cr12 Cr12 Cr-9 Cr-10 Cr-7 Cr
Free cash flow (OCF − Capex)—-3 Cr144 Cr200 Cr-21 Cr155 Cr222 Cr88 Cr226 Cr

Ratios

MetricMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %20.9%15.4%13.3%9.9%11.4%13.5%18.4%17.8%18.0%
ROE %14.7%10.3%10.1%7.6%8.5%10.0%14.2%13.4%13.3%
Debtor days565765695657676972
Inventory days474758595147474435
Days payable111968907069776872
Cash conversion cycle-87341283734374535
OCF / EBITDA %—85.8%99.6%173.4%1.4%102.6%90.0%50.0%82.4%
OCF / EBITDA % (3 years)———112.6%87.1%88.6%71.6%77.9%74.3%
Debt / equity0.010.050.060.070.060.050.040.040.04
Current ratio2.332.282.332.242.312.092.082.272.13
Net debt / EBITDA0.000.110.380.470.280.150.090.110.12