Bal Pharma Limited (IN:BALPHARMA)
:BALPHARMA
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Bal Pharma Limited
(BALPHARMA)
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Rating:53Neutral
Price Target:
₹98.00
▲(32.59% Upside)
Action:Reiterated
Date:05/29/26
The score is held back primarily by weak financial quality: meaningful leverage and volatile/negative free cash flow in multiple recent years despite modest long-run revenue growth. Technicals are supportive with a strong uptrend and positive MACD, but overbought signals (high RSI/Stoch) add near-term risk. Valuation is reasonable (P/E ~18.8) with a small dividend yield, but not compelling enough to outweigh the cash-flow and balance-sheet concerns.
Positive Factors
Diversified business model (formulations, APIs, contract manufacturing)
Bal Pharma's mix of finished formulations, API production and contract manufacturing creates multiple durable revenue channels. This diversification reduces customer concentration risk, smooths utilization cycles, and provides recurring fee-based income from partners, supporting resilience across market cycles.
Negative Factors
High financial leverage
Leverage near two times equity materially raises interest and refinancing burdens and reduces financial flexibility. High debt amplifies downside risk from earnings or cash-flow shortfalls, constrains ability to fund capex organically, and makes the company sensitive to credit market conditions over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified business model (formulations, APIs, contract manufacturing)
Bal Pharma's mix of finished formulations, API production and contract manufacturing creates multiple durable revenue channels. This diversification reduces customer concentration risk, smooths utilization cycles, and provides recurring fee-based income from partners, supporting resilience across market cycles.
Read all positive factors
Bal Pharma Limited (BALPHARMA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.41B
Dividend Yield1.62%
Average Volume (3M)4.08K
Price to Earnings (P/E)22.2
Beta (1Y)0.83
Revenue Growth2.83%
EPS Growth-26.18%
CountryIN
Employees868
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)4.84
Shares Outstanding15,920,872
10 Day Avg. Volume4,315
30 Day Avg. Volume4,084
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, an Indian pharmaceutical enterprise, specializes in the production and distribution of a wide array of medicinal formulations and Active Pharmaceutical Ingredients (APIs) for both domestic and global markets. Its comprehensive ...
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 | 2.95B | 3.12B | 3.03B | 3.39B | 3.04B | 2.81B |
| Gross Profit | 1.25B | 761.52M | 730.18M | 770.20M | 1.25B | 1.11B |
| EBITDA | 312.60M | 319.03M | 317.63M | 320.23M | 245.00M | 239.71M |
| Net Income | 71.58M | 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 | 105.19M | 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 | -774.04M | 2.93B | 2.58B | 2.50B | 2.49B | 2.02B |
| Stockholders Equity | 774.04M | 822.27M | 774.16M | 692.94M | 637.89M | 586.27M |
Cash Flow | ||||||
| Free Cash Flow | 11.28M | -40.83M | -145.55M | 118.26M | -164.89M | 192.39M |
| Operating Cash Flow | 88.16M | 144.72M | 42.32M | 228.06M | -18.43M | 277.08M |
| Investing Cash Flow | 27.27M | -215.41M | -156.53M | -188.91M | -221.82M | -94.85M |
| Financing Cash Flow | -130.00M | 72.26M | 90.12M | -12.06M | 244.00M | -181.34M |
Bal Pharma Limited Technical Analysis
Positive
73.91
Price Trends
81.51
Positive
76.10
Positive
77.80
Positive
Market Momentum
1.92
Positive
57.27
Neutral
66.22
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 73.91 is below the 20-day moving average (MA) of 87.72, below the 50-day MA of 81.51, and below the 200-day MA of 77.80, indicating a bullish trend. The MACD of 1.92 indicates Positive momentum. The RSI at 57.27 is Neutral, neither overbought nor oversold. The STOCH value of 66.22 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 (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | ₹822.16M | 14.60 | ― | ― | 9.84% | 338.36% | |
56 Neutral | ₹3.70B | 32.96 | ― | ― | 3.26% | 167.18% | |
53 Neutral | ₹1.41B | 22.22 | ― | 1.62% | 2.83% | -26.18% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
44 Neutral | ₹2.37B | 51.28 | ― | ― | -0.35% | 11.17% | |
43 Neutral | ₹475.96M | -1.07 | ― | ― | -26.89% | -760.69% | |
41 Neutral | ₹1.40B | -8.15 | ― | ― | -45.21% | 37.10% |
* Healthcare Sector Average
IN:BALPHARMA
Bal Pharma Limited
88.84
-8.83
-9.04%
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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.