Balmer Lawrie & Company share price & results
- Jun 2026
- Sept 2026
Government of India enterprise (CPSE) running six businesses: packaging, lubricants, chemicals, travel, logistics, oilfield services.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 749 | +10.0% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 13.0 | +1.0 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 71.0 | +6.0% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
| Return on equity | 13.82 | −0.3 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | 8.31 | +4.7 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 8.87 | +0.4 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Price
Performance −22.6% 1Y
1Y: ₹199.45 on 24 Oct 2025 → ₹154.42. High ₹203.2 (29 Oct 2025), low ₹149.08 (30 Mar 2026).
- Previous close
- ₹153.39
- Market cap
- ₹2.6k Cr
- 52-week range
- ₹149.08 – ₹203.2
- One year
- −22.45%
- Price to earnings (TTM to Jun 2026)
- 9.18×
- Return on equity (TTM to Jun 2026)
- 13.82%
Overview
- Symbol
- NSE:BALMLAWRIE
- Sector
- Diversified
- Exchange
- NSE
- Currency
- INR
What Balmer Lawrie & Company Limited does
Based on the company's own presentations, annual report and earnings calls.
Balmer Lawrie & Co. Ltd. is a Government of India Enterprise (CPSE) administered under the Ministry of Petroleum and Natural Gas, with its registered office in Kolkata. It is a diversified group operating across six reported business lines: Industrial Packaging, Greases & Lubricants, Chemicals, Travel & Vacations, Logistics (Services, Infrastructure and Cold Chain), and Refinery & Oil Field Services. It earns income from this mix of industrial manufacturing and B2B services alongside consumer-facing travel and logistics operations, rather than from a single core product line.
Segments
- Industrial Packaging
- Greases & Lubricants
- Chemicals
- Travel & Vacations
- Logistics
- Refinery & Oil Field Services
- Reported business segments
- 6
- Ownership
- Government of India Enterprise (CPSE), administered under the Ministry of Petroleum and Natural Gas
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
What the filings say
Net profit, year on year: +6% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 639 | 630 | 608 | 681 | 635 | 657 | 744 | 749 |
| Expenses | 569 | 546 | 514 | 597 | 568 | 571 | 630 | 649 |
| Operating profit | 70 | 84 | 95 | 83 | 67 | 86 | 114 | 100 |
| Operating margin | 11.0% | 13.0% | 16.0% | 12.0% | 11.0% | 13.0% | 15.0% | 13.0% |
| Other income | 11 | 9 | 18 | 9 | 11 | 7 | 20 | 11 |
| Interest | 5 | 9 | 6 | 7 | 7 | 10 | 10 | 13 |
| Depreciation | 14 | 15 | 16 | 14 | 16 | 18 | 28 | 20 |
| Profit before tax | 62 | 68 | 90 | 71 | 55 | 65 | 95 | 78 |
| Tax rate | 30.0% | 29.0% | 35.0% | 27.0% | 31.0% | 28.0% | 32.0% | 28.0% |
| Net profit | 61 | 62 | 74 | 67 | 55 | 65 | 83 | 71 |
| EPS (₹ per share) | 3.66 | 3.77 | 4.39 | 4.03 | 3.31 | 3.89 | 4.94 | 4.18 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 2,321 | 2,340 | 2,515 | 2,717 |
| Expenses | 2,120 | 2,035 | 2,203 | 2,366 |
| Operating profit | 202 | 305 | 313 | 350 |
| Other income | 36 | 52 | 50 | 47 |
| Interest | 19 | 22 | 26 | 34 |
| Depreciation | 56 | 58 | 59 | 76 |
| Profit before tax | 165 | 275 | 276 | 286 |
| Net profit | 167 | 258 | 260 | 270 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 171 | 171 | 171 | 171 | 171 | 171 |
| Reserves | 1,416 | 1,510 | 1,650 | 1,798 | 1,773 | 1,898 |
| Borrowings | 122 | 121 | 113 | 106 | 237 | 220 |
| Other liabilities | 736 | 860 | 939 | 966 | 1,049 | 1,061 |
| Total liabilities | 2,445 | 2,662 | 2,873 | 3,040 | 3,230 | 3,349 |
| Fixed assets | 767 | 760 | 751 | 737 | 789 | 883 |
| Capital work in progress | 11 | 28 | 52 | 67 | 79 | 34 |
| Investments | 436 | 518 | 565 | 632 | 669 | 730 |
| Other assets | 1,231 | 1,356 | 1,505 | 1,604 | 1,693 | 1,702 |
| Total assets | 2,445 | 2,662 | 2,873 | 3,040 | 3,230 | 3,349 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 244 | 2 | 208 | 274 | 156 | 289 |
| Cash from investing | -80 | 137 | -48 | -105 | 23 | -38 |
| Cash from financing | -149 | -127 | -147 | -178 | -189 | -259 |
| Net cash flow | 15 | 12 | 12 | -9 | -10 | -7 |
| Free cash flow | 200 | -16 | 158 | 222 | 90 | 225 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 69 | 56 | 57 | 67 | 70 | 72 |
| Inventory days | 59 | 51 | 46 | 66 | 67 | 57 |
| Days payable | 100 | 69 | 68 | 108 | 104 | 118 |
| Cash conversion cycle | 28 | 38 | 35 | 25 | 33 | 12 |
| Working capital days | 30 | 49 | 39 | 39 | 62 | 59 |
| Return on capital employed | 8.0% | 8.0% | 10.0% | 16.0% | 15.0% | 15.0% |
| Dividend payout | 85.0% | 81.0% | 75.0% | 61.0% | 55.0% | 53.0% |
Where revenue comes from
The businesses behind the company’s reported revenue.
Industrial Packaging contributes 39.1% of reported segment revenue.
Quarter ended 30 Jun 2026 · Consolidated
- Industrial Packaging 39.1%
₹308.66 crore
- Logistics Services 21.9%
₹173.17 crore
- Greases & Lubricants 14.6%
₹115.10 crore
- Logistics Infrastructure 10.4%
₹82.34 crore
- Travel & Vacations 10.1%
₹79.46 crore
- Others 3.9%
₹30.68 crore
| Business segment | Revenue · ₹ crore | Share |
|---|---|---|
| Industrial Packaging | 308.66 | 39.1% |
| Logistics Services | 173.17 | 21.9% |
| Greases & Lubricants | 115.10 | 14.6% |
| Logistics Infrastructure | 82.34 | 10.4% |
| Travel & Vacations | 79.46 | 10.1% |
| Others | 30.68 | 3.9% |
Share = segment revenue ÷ total segment revenue, before intersegment adjustments.
How these numbers add up
- Total segment revenue
- ₹789.40 crore
- Intersegment adjustment
- ₹40.67 crore
- Net segment revenue
- ₹748.73 crore
Intersegment transactions are between the company’s own businesses. Net segment revenue can differ from income-statement revenue because reporting definitions differ.
Source: FinEdge · Last checked 19 Sept 2026. Reported segment names are kept as supplied.
How the mix has moved
Greases & Lubricants shrank from 27% to 15% of revenue over the last two years.
| Segment | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Jun 2025 | Sep 2025 | Mar 2026 | Jun 2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Industrial Packaging | 31% | 38% | 30% | 28% | 33% | 31% | 27% | 39% | +27.7% |
| Logistics Services | 18% | 16% | 22% | 24% | 22% | 19% | 19% | 22% | +11.1% |
| Greases & Lubricants | 27% | 25% | 22% | 22% | 23% | 23% | — | 15% | -29.6% |
| Logistics Infrastructure | 10% | 9% | 10% | 10% | 9% | 10% | — | 10% | +21.5% |
| Travel & Vacations | 9% | 9% | 10% | 12% | 9% | 12% | 17% | 10% | +17.2% |
| Others | 5% | 4% | 6% | 4% | 4% | 4% | — | 4% | +16.3% |
Share of reported segment revenue by quarter, consolidated basis, as filed. A quarter the company did not report is left blank, never carried forward.
See how segments are shifting across companies → Segment Shift
What the price assumes
AttractiveTo justify its price of ₹154, this stock must grow earnings at 0% every year for 7 years. Our analysis caps realistic growth at ~17%. At that growth it is worth ₹383 — upside of 148%.
- Growth the price implies
- 0.2% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 17.4% a year
- net profit, FY23–FY26 · EPS 17.2%
- The gap
- -0.2 pp
- 148% downside if it only repeats history
Ownership
Who owns it
Public hold 95.81% as of Sept 2026; institutions added 0.00 pts since Jun 2026.
- Foreign institutions 2.38%
- Domestic institutions 1.79%
- Government 0.02%
- Public 95.81%
Who is on the register
Named in the Sep 2026 filing
Every holder of Balmer Lawrie & Company Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 61.80% | unchanged | |
| 1.25% | unchanged | |
| Insurer | 1.16% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
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