Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Bal Pharma
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 82.45 | 70.39 | 92.54 | 81.66 | 94.63 | 74.36 | 73.69 | 73.15 | 81.88 | 65.87 | 74.02 | 87.69 | 84.08 |
| Expenses + | 74.29 | 63.95 | 84.84 | 73.87 | 85.03 | 67.89 | 66.00 | 65.40 | 74.24 | 59.81 | 68.29 | 78.15 | 73.50 |
| Operating Profit | 8.16 | 6.44 | 7.70 | 7.79 | 9.60 | 6.47 | 7.69 | 7.75 | 7.64 | 6.06 | 5.73 | 9.54 | 10.58 |
| OPM % | 9.90% | 9.15% | 8.32% | 9.54% | 10.14% | 8.70% | 10.44% | 10.59% | 9.33% | 9.20% | 7.74% | 10.88% | 12.58% |
| Other Income + | 0.19 | 0.16 | 0.14 | 0.10 | 2.45 | 0.82 | -0.20 | 0.51 | 1.08 | 0.72 | 1.12 | 0.33 | -0.24 |
| Interest | 3.85 | 3.64 | 3.82 | 3.66 | 4.14 | 4.24 | 3.65 | 5.01 | 3.95 | 4.05 | 3.86 | 4.85 | 4.06 |
| Depreciation | 2.09 | 2.53 | 2.42 | 2.96 | 2.16 | 2.43 | 2.48 | 2.69 | 2.18 | 2.52 | 2.27 | 3.23 | 3.06 |
| Profit before tax | 2.41 | 0.43 | 1.60 | 1.27 | 5.75 | 0.62 | 1.36 | 0.56 | 2.59 | 0.21 | 0.72 | 1.79 | 3.22 |
| Tax % | 32.78% | 79.07% | 39.38% | 33.07% | 3.65% | 58.06% | 23.53% | 7.14% | -108.88% | 0.00% | 0.00% | 0.00% | -12.11% |
| Net Profit + | 1.62 | 0.09 | 0.97 | 0.85 | 5.53 | 0.26 | 1.04 | 0.52 | 5.41 | 0.21 | 0.72 | 1.79 | 3.60 |
| EPS in Rs | 1.02 | 0.05 | 0.61 | 0.56 | 3.46 | 0.16 | 0.65 | 0.30 | 3.41 | 0.13 | 0.45 | 1.12 | 2.25 |
Financials of Bal Pharma
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 187 | 198 | 229 | 211 | 225 | 171 | 251 | 281 | 304 | 339 | 303 | 312 |
| Expenses + | 170 | 183 | 214 | 194 | 207 | 166 | 226 | 257 | 279 | 308 | 273 | 280 |
| Operating Profit | 17 | 15 | 15 | 17 | 18 | 5 | 25 | 24 | 25 | 31 | 30 | 32 |
| OPM % | 9% | 7% | 6% | 8% | 8% | 3% | 10% | 9% | 8% | 9% | 10% | 10% |
| Other Income + | 1 | 1 | 3 | 2 | 1 | 2 | 1 | 5 | 1 | 3 | 2 | 2 |
| Interest | 7 | 6 | 8 | 9 | 13 | 13 | 12 | 11 | 12 | 15 | 17 | 17 |
| Depreciation | 7 | 7 | 6 | 7 | 6 | 8 | 10 | 9 | 9 | 10 | 10 | 11 |
| Profit before tax | 5 | 3 | 3 | 3 | -0 | -14 | 4 | 9 | 5 | 9 | 5 | 6 |
| Tax % | 25% | 90% | 114% | 87% | -1,175% | -5% | -15% | 38% | 45% | 18% | -41% | -7% |
| Net Profit + | 4 | 1 | -0 | 0 | 2 | -13 | 5 | 6 | 3 | 7 | 7 | 6 |
| EPS in Rs | 2.82 | 1.10 | 1.24 | 1.96 | 2.67 | -8.62 | 3.20 | 3.78 | 1.64 | 4.68 | 4.53 | 3.94 |
| Dividend Payout % | 35% | 91% | 81% | 51% | 37% | 0% | 31% | 26% | 61% | 26% | 26% | 0% |
Financials of Bal Pharma
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 13 | 13 | 14 | 14 | 14 | 14 | 15 | 15 | 16 | 16 | 16 | 16 |
| Reserves | 42 | 42 | 48 | 51 | 52 | 38 | 39 | 44 | 48 | 56 | 62 | 66 |
| Borrowings + | 49 | 89 | 93 | 110 | 124 | 118 | 110 | 104 | 131 | 140 | 150 | 160 |
| Other Liabilities + | 59 | 67 | 78 | 86 | 71 | 68 | 76 | 98 | 116 | 108 | 108 | 134 |
| Total Liabilities | 164 | 211 | 233 | 260 | 261 | 238 | 240 | 261 | 311 | 320 | 336 | 376 |
| Fixed Assets + | 52 | 56 | 60 | 71 | 70 | 71 | 69 | 67 | 76 | 80 | 87 | 94 |
| CWIP | 1 | 4 | 2 | 0 | 4 | 3 | 0 | 2 | 0 | 0 | 3 | 7 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7 | 2 | 2 |
| Other Assets + | 111 | 151 | 172 | 188 | 187 | 164 | 172 | 192 | 235 | 233 | 244 | 272 |
| Total Assets | 164 | 211 | 233 | 260 | 261 | 238 | 240 | 261 | 311 | 320 | 336 | 376 |
Financials of Bal Pharma
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 15 | -19 | 6 | 1 | 8 | 23 | 22 | 27 | -2 | 23 | 20 | |
| Cash from Investing Activity + | -5 | -14 | -8 | -4 | -8 | -5 | -6 | -9 | -22 | -19 | -15 | |
| Cash from Financing Activity + | -7 | 32 | -6 | 4 | 0 | -20 | -17 | -17 | 24 | -1 | -8 | |
| Net Cash Flow | 2 | -1 | -8 | 1 | -0 | -2 | 0 | 0 | 0 | 3 | -2 | |
| Free Cash Flow | 9 | -34 | -2 | -3 | -1 | 18 | 19 | 18 | -16 | 12 | 2 | |
| CFO/OP | 93% | -125% | 52% | 11% | 57% | 465% | 91% | 117% | -4% | 88% | 75% |
Financials of Bal Pharma
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 88 | 105 | 99 | 111 | 105 | 106 | 98 | 98 | 113 | 107 | 111 | 110 |
| Inventory Days | 132 | 145 | 172 | 240 | 217 | 292 | 146 | 162 | 207 | 167 | 238 | 269 |
| Days Payable | 142 | 163 | 171 | 182 | 147 | 167 | 114 | 143 | 167 | 147 | 189 | 206 |
| Cash Conversion Cycle | 78 | 87 | 100 | 168 | 175 | 231 | 130 | 117 | 153 | 127 | 161 | 173 |
| Working Capital Days | 14 | 50 | 26 | 45 | 25 | -11 | 11 | 18 | 13 | 12 | 6 | 7 |
| ROCE % | 11% | 7% | 8% | 8% | 7% | -0% | 10% | 12% | 10% | 12% | 10% | 10% |
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