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Bal Pharma Limited
(BALPHARMA)
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Rating:52Neutral
Price Target:
₹92.00
▲(5.65% Upside)
Action:Reiterated
Date:07/15/26
The score is held back primarily by balance-sheet leverage and volatile/free-cash-flow weakness. Technicals are moderately supportive with the stock above major moving averages, but mixed momentum indicators limit conviction, while valuation is broadly neutral with only a modest dividend yield.
Positive Factors
Diversified revenue streams
Bal Pharma's business spans finished formulations, APIs and contract manufacturing for third parties, plus domestic and export channels. This multi-pronged model cushions revenue against single-market shocks, supports steady order flow from partners, and sustains cash generation over months to years.
Negative Factors
High leverage
Leverage near 1.8x–2.1x and an upward debt trend materially reduces financial flexibility. Elevated interest and principal obligations constrain capital allocation, increase vulnerability to demand or margin shocks, and limit the firm's ability to fund organic growth or cushion working-capital swings over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified revenue streams
Bal Pharma's business spans finished formulations, APIs and contract manufacturing for third parties, plus domestic and export channels. This multi-pronged model cushions revenue against single-market shocks, supports steady order flow from partners, and sustains cash generation over months to years.
Read all positive factors
Bal Pharma Limited (BALPHARMA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.41B
Dividend Yield1.3%
Average Volume (3M)1.41K
Price to Earnings (P/E)19.4
Beta (1Y)0.76
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. Volume1,061
30 Day Avg. Volume1,406
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 (1) selling finished pharmaceutical formulations (branded or generic medicines) and (2) manufacturing and selling APIs/intermediates used to produce medicines. A further revenue stream comes from (3) con...
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
85.69
Positive
84.20
Positive
78.26
Positive
Market Momentum
0.53
Negative
66.41
Neutral
74.55
Neutral
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 above the 20-day moving average (MA) of 86.45, above the 50-day MA of 85.69, and above the 200-day MA of 78.26, indicating a bullish trend. The MACD of 0.53 indicates Negative momentum. The RSI at 66.41 is Neutral, neither overbought nor oversold. The STOCH value of 74.55 is Neutral, 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 | ₹1.93B | 13.30 | ― | 0.70% | 4.29% | 2.37% | |
63 Neutral | ₹891.84M | 24.63 | ― | ― | 3.08% | 1012.75% | |
60 Neutral | ₹1.94B | 14.70 | ― | ― | -7.71% | 927.75% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹1.34B | 36.93 | ― | ― | 0.46% | -86.65% | |
53 Neutral | ₹2.69B | 65.31 | ― | 0.23% | -7.69% | -0.16% | |
52 Neutral | ₹1.41B | 19.38 | ― | 1.26% | 13.51% | -14.80% |
* General Sector Average
IN:BALPHARMA
Bal Pharma Limited
92.84
4.89
5.56%
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IN:VAISHALI
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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.