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Bal Pharma Limited
(BALPHARMA)
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Rating:49Neutral
Price Target:
₹113.00
▲(29.77% Upside)
Action:Reiterated
Date:09/10/26
The score is held back primarily by weak financial quality—especially volatile cash flows with repeated negative free cash flow and a highly leveraged balance sheet. Technicals are supportive due to a strong uptrend, but very overbought momentum signals increase near-term downside risk. Valuation is middling (P/E ~25) with only a modest dividend yield, providing limited offset to the financial risks.
Positive Factors
Long-term revenue growth
The company has delivered positive revenue growth over the measured period, indicating ongoing demand for its pharmaceutical products. Continued expansion in sales can support operating scale, broaden market reach, and provide a foundation for rebuilding earnings if profitability improves.
Negative Factors
High and rising leverage
High and rising leverage places a persistent constraint on financial flexibility. Debt service and refinancing needs can absorb cash that might otherwise fund product development, capacity or working capital, while the balance sheet remains sensitive to weaker earnings or operating conditions.
Read all positive and negative factors
Positive Factors
Negative Factors
Long-term revenue growth
The company has delivered positive revenue growth over the measured period, indicating ongoing demand for its pharmaceutical products. Continued expansion in sales can support operating scale, broaden market reach, and provide a foundation for rebuilding earnings if profitability improves.
Read all positive factors
Bal Pharma Limited (BALPHARMA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.51B
Dividend Yield1.06%
Average Volume (3M)2.06K
Price to Earnings (P/E)25.2
Beta (1Y)0.73
Revenue Growth13.51%
EPS Growth-14.80%
CountryIN
Employees939
SectorGeneral
Sector StrengthN/A
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)4.54
Shares Outstanding15,920,872
10 Day Avg. Volume3,610
30 Day Avg. Volume2,061
Financial Highlights & Ratios
PEG Ratio-1.14
Price to Book (P/B)1.17
Price to Sales (P/S)0.31
P/FCF Ratio-23.54
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Bal Pharma Limited Business Overview & Revenue Model
Company Description
Bal Pharma Limited, together with its subsidiaries, manufactures and markets pharmaceutical formulations and active pharmaceutical ingredients (APIs) in India and internationally. The company offers prescription drugs, generics, OTC products, intr...
How the Company Makes Money
Bal Pharma Limited makes money primarily by selling pharmaceutical products, with revenue generally coming from: (1) sales of finished dosage formulations (branded or generic medicines sold through distribution channels to hospitals, pharmacies, a...
Bal Pharma Limited Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
42
Neutral
Cash Flow
34
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.34B | 3.12B | 3.03B | 3.39B | 3.04B | 2.81B |
| Gross Profit | 973.08M | 761.52M | 730.18M | 770.20M | 1.25B | 1.11B |
| EBITDA | 346.70M | 338.31M | 317.63M | 320.23M | 245.00M | 239.71M |
| Net Income | 72.06M | 62.84M | 72.15M | 73.92M | 25.72M | 56.12M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 3.76B | 3.36B | 3.20B | 3.13B | 2.61B |
| Cash, Cash Equivalents and Short-Term Investments | 92.92M | 92.92M | 105.19M | 199.29M | 74.63M | 60.84M |
| Total Debt | 0.00 | 1.60B | 1.50B | 1.42B | 1.33B | 1.07B |
| Total Liabilities | -822.52M | 2.93B | 2.58B | 2.50B | 2.49B | 2.02B |
| Stockholders Equity | 822.52M | 822.27M | 774.16M | 692.94M | 637.89M | 586.27M |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -40.83M | -145.55M | 118.26M | -164.89M | 192.39M |
| Operating Cash Flow | 0.00 | 144.72M | 42.32M | 228.06M | -18.43M | 277.08M |
| Investing Cash Flow | 0.00 | -215.41M | -156.53M | -188.91M | -221.82M | -94.85M |
| Financing Cash Flow | 0.00 | 72.26M | 90.12M | -12.06M | 244.00M | -181.34M |
Bal Pharma Limited Technical Analysis
Positive
87.08
Price Trends
86.67
Positive
84.73
Positive
78.51
Positive
Market Momentum
3.06
Negative
84.87
Negative
87.66
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:BALPHARMA, the sentiment is Positive. The current price of 87.08 is below the 20-day moving average (MA) of 88.09, above the 50-day MA of 86.67, and above the 200-day MA of 78.51, indicating a bullish trend. The MACD of 3.06 indicates Negative momentum. The RSI at 84.87 is Negative, neither overbought nor oversold. The STOCH value of 87.66 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:BALPHARMA.
Bal Pharma Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | ₹1.74B | 11.41 | ― | 0.70% | 4.29% | 2.40% | |
62 Neutral | ₹893.98M | 23.87 | ― | ― | 3.08% | 1012.75% | |
60 Neutral | ₹1.88B | 14.03 | ― | ― | -7.71% | 927.75% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹1.30B | 37.64 | ― | ― | 0.46% | -86.65% | |
53 Neutral | ₹2.75B | 68.01 | ― | 0.23% | -7.69% | -0.16% | |
49 Neutral | ₹1.51B | 25.21 | ― | 1.06% | 13.51% | -14.80% |
* General Sector Average
IN:BALPHARMA
Bal Pharma Limited
114.02
24.82
27.83%
IN:AAREYDRUGS
Aarey Drugs & Pharmaceuticals Ltd.
99.72
27.30
37.70%
IN:ALPA
Alpa Laboratories Limited
64.04
-31.08
-32.67%
IN:BROOKS
Brooks Laboratories Limited
63.64
-89.01
-58.31%
IN:PAR
Par Drugs and Chemicals Limited
134.37
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18.31%
IN:VAISHALI
Vaishali Pharma Ltd.
8.14
-3.92
-32.50%
Bal Pharma Limited Corporate Events
Bal Pharma Rectifies Technical Discrepancies in NSE XBRL Filings
Jul 27, 2026
Bal Pharma Limited has clarified discrepancies flagged by the National Stock Exchange between its XBRL-filed financial data and the PDF statements for the quarter ended 31 March 2026. The company stated that the board-approved and auditor-reviewed...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.