Balrampur Chini Mills Ltd (BALRAMCHIN) AI Stock Analysis

• Market Cap: ₹97.68B
• Dividend Yield: 0.79%
• Average Volume (3M): 33.86K
• Price to Earnings (P/E): 19.8
• Beta (1Y): 1.19
• Revenue Growth: 9.74%
• EPS Growth: -6.32%
• Country: IN
• Employees: 6,056
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Food Confectioners
• EPS (TTM): 5.62
• Shares Outstanding: 201,950,440
• 10 Day Avg. Volume: 52,635
• 30 Day Avg. Volume: 33,864
• PEG Ratio: -1.41
• Price to Book (P/B): 2.97
• Price to Sales (P/S): 2.08
• P/FCF Ratio: -24.14
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 23.21
• Revenue Forecast (FY): ₹60.80B

• Rating: 67 Neutral
• Price Target: ₹534.00 ▲(22.51% Upside)
• Action: Reiterated Date: 03/05/26
• Date: Action: Reiterated 03/05/26

The score is primarily driven by solid operating performance but offset by balance sheet leverage and negative free cash flow risk. Technicals are moderately supportive in the short term but weaker versus the 200-day average, and valuation is only average with a low dividend yield.

Positive Factors

Integrated multi-product model

Balrampur's integrated operations (sugar, ethanol/distillery, power co-generation, molasses/by-products) create linked revenue streams that smooth cycle-driven sugar volatility. Vertical integration boosts internal feedstock use, lowers energy costs and supports diversified cash generation over months.

Operational margins & efficiency

Stable gross margins and strong EBIT/EBITDA indicate durable processing efficiency and cost management in core sugar operations. Efficient conversion and scale in manufacturing support margin sustainability, helping absorb commodity swings and underpin medium-term profitability.

Top-line and EPS growth

Meaningful revenue and EPS growth show underlying demand and improving earnings power, reflecting successful product mix and utilization. Sustained top-line expansion provides scope to leverage fixed costs and fund reinvestment in distillery/co-gen capacity over the next several quarters.

Negative Factors

High leverage

A high debt-to-equity position raises refinancing and interest-rate vulnerability, constraining strategic optionality. In a cyclical agri-processing business, elevated leverage can amplify earnings swings and limit the company's ability to invest or absorb weak seasons over the medium term.

Negative free cash flow

Persistent negative free cash flow driven by sizeable capex pressures liquidity and may require external funding or higher leverage. This reduces capacity to deleverage, fund dividends, or invest opportunistically, making balance-sheet repair a multi-quarter structural challenge.

Earnings volatility & policy/agri exposure

Recent net income decline coupled with dependency on government pricing/policy and sugarcane supply/recovery creates structural earnings variability. Policy shifts or poor crop recovery can materially affect margins and realized realizations, sustaining volatility over coming seasons.

Balrampur Chini Mills Ltd Business Overview & Revenue Model

Company Description

Balrampur Chini Mills Limited, an integrated sugar manufacturing company, manufactures and sells sugar in India. It operates through Sugar, Co-generation, and Distillery segments. The company also offers molasses, press mud, industrial alcohol, ethanol, and bagasse; and agricultural fertilizers, such as soil conditioner, granulated potash, etc. In addition, it is involved in the generation and sale of electricity. The company was incorporated in 1975 and is headquartered in Kolkata, India.

How the Company Makes Money

Balrampur Chini Mills Ltd generates revenue primarily through the sale of sugar, which constitutes its core business. The company benefits from the fluctuating sugar prices in the market, allowing it to capitalize on high-demand periods. Additionally, revenue is derived from the sale of by-products such as molasses, which is used in animal feed and alcohol production, and ethanol, which has seen increased demand due to government mandates for blending in fuel. The company also generates income from the sale of surplus power produced from its co-generation plants. Strategic partnerships with agricultural cooperatives and government incentives for ethanol production enhance its revenue streams. Fluctuations in sugarcane prices and government policies regarding sugar subsidies also play a significant role in influencing its earnings.

Balrampur Chini Mills Ltd Financial Statement Overview

Summary

Income statement strength (Score: 75) reflects consistent gross margins and solid EBIT/EBITDA efficiency, but recent net income decline adds risk. Balance sheet (Score: 70) is pressured by a high debt-to-equity ratio despite a solid equity base. Cash flow (Score: 65) is the main drag due to negative free cash flow driven by high capital expenditures, raising liquidity and funding risk.

Income Statement

Balrampur Chini Mills Ltd showed stable revenue levels with slight fluctuations over the years. The gross profit margin has been consistent, indicating efficient cost management. However, the net profit margin has shown some volatility, with a decrease in recent years. The EBIT and EBITDA margins suggest strong operational efficiency, but the decline in net income in the latest year is a concern.

Balance Sheet

The company's balance sheet reflects a high debt-to-equity ratio, indicating reliance on debt financing, which increases financial risk. However, the equity ratio shows a solid proportion of equity financing. Return on Equity (ROE) has seen fluctuations, suggesting variability in generating returns on shareholders' equity.

Cash Flow

Cash flow analysis reveals challenges with negative free cash flow in recent years, signaling potential liquidity issues. The operating cash flow to net income ratio indicates that the company is generating sufficient cash from operations relative to net income, but free cash flow remains a concern due to high capital expenditures.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	59.09B	54.15B	55.94B	46.66B	48.46B	48.12B
Gross Profit	15.02B	14.46B	15.68B	11.72B	13.11B	12.76B
EBITDA	7.59B	7.04B	7.86B	5.21B	7.06B	7.13B
Net Income	4.05B	4.37B	5.34B	2.84B	4.65B	4.80B
Balance Sheet
Total Assets	52.24B	71.29B	60.86B	54.29B	44.92B	46.34B
Cash, Cash Equivalents and Short-Term Investments	204.28M	34.16M	3.19M	615.61M	3.22M	4.85M
Total Debt	7.74B	26.27B	20.09B	18.80B	12.11B	12.40B
Total Liabilities	13.05B	33.33B	26.85B	25.33B	17.22B	20.15B
Stockholders Equity	39.19B	37.96B	34.01B	28.96B	27.70B	26.19B
Cash Flow
Free Cash Flow	19.33B	-4.67B	-909.40M	-4.03B	2.91B	5.48B
Operating Cash Flow	22.54B	4.25B	1.78B	4.53B	6.95B	6.49B
Investing Cash Flow	-3.20B	-8.80B	-2.25B	-8.59B	-3.09B	-811.27M
Financing Cash Flow	-19.27B	4.55B	469.65M	4.06B	-3.85B	-5.69B

Balrampur Chini Mills Ltd Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 435.90
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:BALRAMCHIN, the sentiment is Positive. The current price of 435.9 is below the 20-day moving average (MA) of 478.90, below the 50-day MA of 451.61, and below the 200-day MA of 500.10, indicating a neutral trend. The MACD of 8.84 indicates Positive momentum. The RSI at 53.85 is Neutral, neither overbought nor oversold. The STOCH value of 17.53 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:BALRAMCHIN.

Balrampur Chini Mills Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BALRAMCHIN	67 Neutral	₹97.68B	19.77	―	0.79%	9.74%	-6.32%
BANARISUG	66 Neutral	₹45.39B	23.32	―	0.35%	-7.81%	-6.64%
EIDPARRY	63 Neutral	₹141.64B	19.82	―	―	22.02%	56.45%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
TRIVENI	54 Neutral	₹74.90B	25.39	―	0.63%	14.75%	-15.81%
BAJAJHIND	46 Neutral	₹20.00B	39.15	―	―	-11.72%	-439.12%
RENUKA	46 Neutral	₹50.76B	-36.29	―	―	-18.81%	-57.61%

Balrampur Chini Mills Ltd Corporate Events

Balrampur Chini Mills Urges Shareholders to Update KYC for Dividend Release

Balrampur Chini Mills Ltd has notified its shareholders about the necessity to update their KYC and bank details to comply with SEBI regulations. This update is crucial for the release of withheld dividend payments, as SEBI mandates that all payments be made electronically. The company has reached out to shareholders holding physical securities to ensure their records are updated to facilitate smooth electronic transactions, reflecting a broader industry shift towards digital financial operations.