Bal Pharma Ltd.

BSE: BALPHARMA524824ISIN INE083D01012

Healthcare
Pharmaceuticals

Share price

₹82.00-0.20 (-0.24%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹124.68
52W low: ₹59.69
Off 52W high: -34.23%
1M return: -23.79%
3M return: -7.97%
6M return: +6.55%
1Y return: +0.61%
20D avg volume: 2,336
50 DMA: ₹94.89
200 DMA: ₹82.76

Key ratios Consolidated

Market cap: ₹130.55 Cr
Current price: ₹82.00
52W high / low: ₹124.68 / ₹59.69
Face value: ₹10.00
P/E: 18.01
P/B: 1.59
EPS (TTM): ₹4.55
Book value / share: ₹51.65
ROE: —
ROCE: 18.00%
Operating margin: —
Net margin: —
Debt / equity: 1.94
Net debt: ₹157.21 Cr
Interest cover: 1.35
Dividend yield: 1.46%
Dividend / share (TTM): ₹1.20
Payout: 26.37%
Cash conversion cycle: 141.8 days

Financials

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24
Income statement
	88.62	84.08	87.69	74.03	65.87	81.88	73.15	73.69	74.36	—
	0.44	-0.24	0.33	1.12	0.72	1.08	0.51	0.20	0.82	—
	89.05	83.84	88.02	75.14	66.59	82.96	73.66	73.49	75.18	—
	87.92	80.62	86.23	74.42	66.39	80.37	73.09	72.13	74.56	—
	48.47	41.14	43.51	40.29	36.03	38.70	37.58	37.29	36.31	—
	2.91	1.42	2.04	1.78	3.98	6.97	3.54	1.40	3.14	—
	17.06	18.07	17.32	16.27	14.80	15.49	15.97	16.02	14.91	—
	4.47	4.06	4.85	3.86	4.05	3.95	5.01	3.65	4.24	—
	2.78	3.06	3.23	2.27	2.52	2.18	2.69	2.48	2.43	—
	12.45	17.12	14.66	12.09	11.46	14.77	12.57	11.98	13.91	—
	1.14	3.22	1.79	0.72	0.21	2.59	0.57	1.36	0.62	—
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—
	1.14	3.22	1.79	0.72	0.21	2.59	0.57	1.36	0.62	—
	0.00	-0.39	0.00	0.00	0.00	-2.83	0.05	0.32	0.36	—
	1.14	3.60	1.79	0.72	0.21	5.38	0.52	1.04	0.26	—
	0.71	2.26	1.12	0.45	0.13	3.40	0.33	0.65	0.16	—
Key metrics
	8.39	10.34	9.87	6.85	6.78	8.72	8.27	7.49	7.29	—
	9.50%	12.30%	11.30%	9.30%	10.30%	10.60%	11.30%	10.20%	9.80%	—
	1.30%	4.30%	2.00%	1.00%	0.30%	6.60%	0.70%	1.40%	0.30%	—
	—	5.80%	—	3.80%	—	5.60%	—	—	—	—
	34.50%	2.70%	19.90%	0.50%	-11.40%	—	—	—	—	—
	442.90%	-33.10%	244.20%	-30.80%	-19.20%	—	—	—	—	—

Metric	TTM	FY26	FY25	FY24
Income statement
	334.42	311.66	303.08	—
	1.65	1.93	2.20	—
	336.05	313.59	305.29	—
	329.19	307.65	300.15	—
	173.41	160.97	149.89	—
	8.15	9.23	15.06	—
	68.72	66.47	62.40	—
	17.24	16.82	16.85	—
	11.34	11.08	9.77	—
	56.32	55.33	53.23	—
	6.87	5.94	5.14	—
	0.00	0.00	0.00	—
	6.87	5.94	5.14	—
	-0.39	-0.39	2.10	—
	7.25	6.32	7.20	—
	4.54	3.95	4.56	—
Key metrics
	35.45	33.84	31.76	—
	10.60%	10.90%	10.50%	—
	2.17%	2.00%	2.40%	—
	—	18.00%	18.90%	—
	13.52%	2.80%	—	—
	1.40%	-12.20%	—	—
	—	7.87	20.74	—
	—	1.25	2.88	—
	—	1.94	1.94	—
	—	157.21	148.66	—
	—	141.8	137.0	—
Balance sheet
	—	375.54	335.69	—
	—	262.23	234.87	—
	—	2.30	1.75	—
	—	93.63	92.44	—
	—	116.36	103.02	—
	—	40.01	25.49	—
	—	76.75	70.99	—
	—	88.97	81.69	—
	—	249.23	219.50	—
	—	159.51	150.41	—
	—	127.63	119.00	—
	—	31.88	31.41	—
	—	82.25	77.40	—
Cash flow
	—	7.87	20.74	—
	—	-9.85	-18.13	—
	—	-27.32	0.29	—
	—	0.00	0.00	—

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24
Income statement
	88.43	83.92	87.50	73.75	65.64	81.78	72.89	74.70	73.13	—
	0.46	-0.22	0.35	1.14	0.74	0.99	0.82	0.34	0.81	—
	88.88	83.70	87.84	74.88	66.38	82.78	73.70	75.05	73.94	—
	87.72	80.39	85.89	74.10	66.05	79.96	72.50	73.52	71.84	—
	48.47	41.14	43.51	40.29	36.03	39.92	37.55	36.13	36.31	—
	2.94	1.44	2.01	1.70	3.97	5.67	3.50	2.83	2.98	—
	16.93	17.92	17.19	16.15	14.67	15.35	14.81	14.88	13.84	—
	4.47	4.05	4.85	3.86	4.05	3.94	5.01	4.18	3.71	—
	2.78	3.04	3.23	2.27	2.52	2.07	2.33	2.12	2.08	—
	12.39	16.99	14.49	11.98	11.33	14.66	13.66	14.12	13.27	—
	1.16	3.31	1.95	0.78	0.32	2.81	1.20	1.53	2.11	—
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—
	1.16	3.31	1.95	0.78	0.32	2.81	1.20	1.52	2.11	—
	0.00	0.39	0.00	0.00	0.00	2.79	0.05	0.32	0.36	—
	1.16	3.70	1.95	0.78	0.32	5.61	1.16	1.20	1.75	—
	0.73	2.60	1.22	0.49	0.20	3.51	0.73	0.76	1.11	—
Key metrics
	8.41	10.40	10.03	6.91	6.89	8.82	8.54	7.82	7.90	—
	9.50%	12.40%	11.50%	9.40%	10.50%	10.80%	11.70%	10.50%	10.80%	—
	1.30%	4.40%	2.20%	1.10%	0.50%	6.90%	1.60%	1.60%	2.40%	—
	—	5.00%	—	3.30%	—	4.90%	—	—	—	—
	34.70%	2.60%	20.00%	-1.30%	-10.20%	—	—	—	—	—
	262.50%	-34.00%	68.10%	-35.00%	-81.70%	—	—	—	—	—

Metric	TTM	FY26	FY25	FY24
Income statement
	333.60	310.80	302.50	—
	1.73	2.00	2.15	—
	335.30	312.80	304.65	—
	328.10	306.44	298.91	—
	173.41	160.97	149.89	—
	8.09	9.13	14.97	—
	68.19	65.92	61.83	—
	17.23	16.81	16.85	—
	11.32	11.06	9.65	—
	55.85	54.79	52.82	—
	7.20	6.37	5.73	—
	0.00	0.00	0.00	—
	7.20	6.37	5.73	—
	0.39	-0.39	2.07	—
	7.59	6.75	7.80	—
	5.04	4.51	4.89	—
Key metrics
	35.75	34.24	32.23	—
	10.72%	11.00%	10.70%	—
	2.28%	2.20%	2.60%	—
	—	15.70%	16.50%	—
	13.08%	2.70%	—	—
	-8.44%	-13.50%	—	—
	—	8.82	1.54	—
	—	1.31	2.60	—
	—	1.48	1.46	—
	—	151.55	142.97	—
	—	144.9	139.6	—
Balance sheet
	—	391.06	350.56	—
	—	275.64	247.65	—
	—	2.19	1.64	—
	—	96.36	94.85	—
	—	116.13	102.78	—
	—	—	36.22	—
	—	76.73	70.95	—
	—	89.17	81.85	—
	—	243.30	213.46	—
	—	153.74	144.61	—
	—	121.86	113.21	—
	—	31.88	31.40	—
	—	104.10	98.82	—
Cash flow
	—	8.82	20.31	—
	—	-26.82	-14.90	—
	—	-11.76	-7.83	—
	—	0.00	18.77	—

Compounded growth

Standalone

Sales CAGR 3Y: —
Sales CAGR 5Y: —
Profit CAGR 3Y: —
Profit CAGR 5Y: —
Sales YoY (TTM): +13.08%
Profit YoY (TTM): -8.44%

Consolidated

Sales CAGR 3Y: —
Sales CAGR 5Y: —
Profit CAGR 3Y: —
Profit CAGR 5Y: —
Sales YoY (TTM): +13.52%
Profit YoY (TTM): +1.40%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 50.86%

Quarter	September 2026	June 2026	March 2026	December 2025
Promoter %	50.86%	50.86%	50.86%	50.86%

Holder	Type	Holding	Previous	Change
SHAILESH SIROYA	Promoter	17.24%	17.24%	0.00%
Micro Labs Limited	Promoter	12.64%	12.64%	0.00%
ANITA SIROYA	Promoter	6.59%	6.59%	0.00%
Ram Keshav Murthy	Public	3.31%	3.31%	0.00%
ANAND SURANA	Promoter	3.30%	3.30%	0.00%
CHANDRAPRAKASH DHEERAJMAL SIROYA	Promoter	3.06%	3.06%	0.00%
DILIP SURANA	Promoter	2.98%	2.98%	0.00%
Prakash Chandra Jain	Public	2.89%	3.44%	-0.55%
Naresh D P	Public	1.88%	1.88%	0.00%
Shreya Mardia	Public	1.88%	1.88%	0.00%
Asha Tapidas Dodhia	Public	1.84%	1.84%	0.00%
ARCHANA SURANA	Promoter	1.79%	1.79%	0.00%
Gautam Chand Mehta	Public	1.16%	1.16%	0.00%
MONICA SURANA	Promoter	1.13%	1.13%	0.00%
DILIP SURANA (HUF)	Promoter	1.07%	1.07%	0.00%

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
Sun Pharmaceutical Industries Ltd.	4,26,112	1,776.00	38.78	17.90%	+12.13% TTM	+4.79% TTM	+4.92%
Divi's Laboratories Ltd.	2,66,424	10,036.00	91.09	19.00%	+16.35% TTM	+26.84% TTM	+47.61%
Torrent Pharmaceuticals Ltd.	1,79,908	4,730.00	85.71	9.10%	+42.06% TTM	-1.92% TTM	+32.24%
Laurus Labs Limited	1,24,601	2,306.10	93.53	19.70%	+23.03% TTM	+95.38% TTM	+134.59%
Zydus Lifesciences Limited	1,18,703	1,190.00	25.85	19.20%	+21.11% TTM	-2.51% TTM	+22.32%
Dr. Reddy's Laboratories Ltd.	1,14,513	1,372.00	41.50	13.90%	-3.53% TTM	-51.90% TTM	+14.26%
Cipla Ltd.	1,13,110	1,400.10	39.63	14.90%	-0.74% TTM	-47.48% TTM	-6.88%
Mankind Pharma Limited	1,04,631	2,533.15	46.22	13.70%	+13.27% TTM	+27.60% TTM	+6.91%
Aurobindo Pharma Ltd.	97,878	1,701.10	26.38	13.60%	+9.09% TTM	+9.48% TTM	+47.79%
Lupin Ltd	92,145	2,015.00	17.65	28.40%	+24.22% TTM	+20.10% TTM	+0.84%
Glenmark Pharmaceuticals ltd	70,608	2,501.85	39.27	16.20%	+32.94% TTM	+138.48% TTM	+35.48%
Alkem Laboratories Limited	62,054	5,190.00	28.15	18.80%	+13.36% TTM	-5.52% TTM	-8.38%
Abbott India Ltd. S	57,685	27,146.85	35.73	41.90%	+6.29% TTM	+11.18% TTM	-7.56%
Biocon Ltd.	56,061	344.00	134.63	2.90%	+5.70% TTM	-55.37% TTM	-9.53%
Gland Pharma Limited	52,105	3,157.70	46.16	13.70%	+17.57% TTM	+46.55% TTM	+65.09%
Ipca Laboratories Ltd.	50,051	1,973.15	36.40	16.40%	+10.59% TTM	+67.91% TTM	+52.33%
GlaxoSmithkline Pharmaceuticals Ltd.	42,904	2,532.60	37.42	55.40%	+12.12% TTM	+20.03% TTM	-4.84%
Ajanta Pharma Ltd.	41,406	3,313.55	32.79	29.40%	+25.01% TTM	+29.70% TTM	+26.89%
Emcure Pharmaceuticals Limited	41,254	2,174.55	37.75	25.10%	+21.12% TTM	+33.34% TTM	+64.07%
J.B. Chemicals & Pharmaceuticals Lt	38,731	2,412.25	47.77	21.90%	+5.87% TTM	+7.56% TTM	+45.79%
Sai Life Sciences Limited	32,855	1,546.30	90.80	18.10%	—	—	+67.49%
PIRAMAL PHARMA LIMITED	31,659	237.80	-151.21	0.80%	+9.43% TTM	-781.93% TTM	+18.60%
ACUTAAS CHEMICALS LIMITED	30,928	3,777.65	70.51	27.70%	+45.18% TTM	+95.78% TTM	+106.30%
Wockhardt Ltd	30,869	1,899.80	76.22	6.40%	+25.70% TTM	+894.12% TTM	+39.18%
RUBICON RESEARCH LIMITED	28,416	1,716.55	98.59	24.30%	—	—	+164.06%
Bal Pharma Ltd.	131	82.00	18.01	18.00%	+13.52% TTM	+1.40% TTM	+0.61%

Filings & corporate actions

Recent announcements

Bal Pharma Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 11/11/2026 ,inter alia, to consider and approve unaudited (Standalone and Consolidated) ....3 Nov 2026 · Board Meeting / Board Meeting
Dividend payment Update - Intimation regarding disbursement of final dividend for the Fy 2025-26 and withholding of dividend in respect of shareholders with incomplete KYC / bank account details13 Oct 2026 · Corp Action / Dividend Updates
Compliance Certificate under Reg 74 (5) of SEBI (DP) Regulation 2018 for the quarter ended 30th September 20267 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Change in Designation of Directors and Reconstitution of Statutory Committee with effective from 01st October 2026 as approved members at 39th AGM of Company held on 24th September 2026 ....25 Sep 2026 · Company Update / Change in Directorate
Enclosed Voting Result and Scrutinizers Report of 39th AGM held on 24th September 202625 Sep 2026 · AGM/EGM / AGM
Intimation of Closure of Trading Window from 01st October 2026 till 48 hours after the declaration of the financial result of the Company for the quarter ended 30th September 2026 (Q2)25 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
Enclosed Proceedings of the AGM of Bal Pharma Limited held on 24th September 202624 Sep 2026 · AGM/EGM / AGM
Clarification regarding Movement in Price asper attachment10 Sep 2026 · Company Update / General
The Exchange has sought clarification from Bal Pharma Ltd on September 10, 2026 with reference to significant movement in price, in order to ensure that investors have latest relevant information ....10 Sep 2026 · Company Update / Clarification
Confirming the Allotment of Convertible Warrants on Preferential basis7 Sep 2026 · Company Update / Allotment of Equity Shares
In Continuation of Previous intimation hereby informing 17th September 2026 fixed as Record date for payment of final dividend and communication to shareholders regarding TDS on dividend payment27 Aug 2026 · Corp. Action / Record Date
Bal Pharma Limited Annual Report 202626 Aug 2026 · Others / Reg. 34 (1) Annual Report
39th AGM of the Company Scheduled on 24th September 2026. Notice copy enclosed26 Aug 2026 · AGM/EGM / AGM
This is to inform that 39th AGM of Bal Pharma Limited Scheduled to be held on Thursday 24th September 2026 at 11.00 AM through VC Mode.26 Aug 2026 · AGM/EGM / AGM
This is in Continuation of Company earlier intimation made in connection with allotment of warrants , hereby clarify that utilization of net proceeds or tenure of warrants is 18 month from ....25 Aug 2026 · Company Update / General
In Continuation of Outcome of Board meeting dated August 12 2026 , Published Unaudited Financial result for the quarter ended 30th June 2026 and IEPF Notice in Financial express and Sanjevani ....13 Aug 2026 · Company Update / General
Enclosed Financial Result for the First quarter ended 30th June 2026 together with Limited Review Report as submitted by Statutory auditor12 Aug 2026 · Result / Financial Results
Board of directors of the Company met on Wednesday, August 12 2026 inter alia transacted the following business. 1. Considered and approved the unaudited Financial Results (Standalone ....12 Aug 2026 · Board Meeting / Outcome of Board Meeting
Scrutinizers Report Pertaining to Postal Ballot Notice dated July 09 2026 read with its Corrigendum dated July 23rd 2026.10 Aug 2026 · AGM/EGM / Postal Ballot
Outcome : Result of Postal Ballot Notice dated July 09 2026 read with its Corrigendum dated July 23 , 202610 Aug 2026 · AGM/EGM / Postal Ballot
Bal Pharma Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 12/08/2026 ,inter alia, to consider and approve Pursuant to Regulation 29 and other ....5 Aug 2026 · Board Meeting / Board Meeting
Company Providing opportunity to shareholders to Submit their Comments on Corrigendum to the Postal ballot notice30 Jul 2026 · Company Update / General
In Continuation of Postal Ballot Notice dated 09th July 2026 , Submitting Corrigendum as integral part to the Said Notice.23 Jul 2026 · Company Update / General
Certificate under Regulation 74(5) of SEBI (DP) Regulations for the quarter ended 30.06.202613 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Postal Ballot Notice for consider the issue of 1000000 Warrants to Mr. Shailesh Siroya , promoter of the Company on preferential basis9 Jul 2026 · AGM/EGM / Postal Ballot
This is with reference to our earlier intimation dated 27th May 2026 regarding appointment of Mr. Shreepada ML as company secretary and compliance officer of the company pursuant to the ....24 Jun 2026 · Company Update / Appointment of Company Secretary / Compliance Officer
Trading window closure for the quarter ended 30.06.2026.24 Jun 2026 · Insider Trading / SAST / Closure of Trading Window
We are submitting the newspaper advertisements of the Audited financial results ( standalone & Consolidated ) for the quarter and financial year ended 31.03.2026 announced by the Company ....29 May 2026 · Company Update / Newspaper Publication
Filing of Statement of deviation & variation is not applicable to the Company for the quarter ended 31.03.2026.29 May 2026 · Company Update / Reg. 32 (1), (3) - Statement of Deviation & Variation
Audited financial results of the company for the quarter and financial year ended 31.03.2026.27 May 2026 · Result / Financial Results
Board of Directors of the Company has met today and transacted following business, 1. Approved audited financial results of the Company for the quarter and financial year ended 31.03.2026. 2.Recommend ....27 May 2026 · Board Meeting / Outcome of Board Meeting
In addition to the agenda items mentioned in our board meeting notice dated 18.05.2025, the following agenda item will also be considered at the meeting scheduled on 27.05.2026. 1. To ....22 May 2026 · Company Update / Meeting Updates
Annual Secretarial Compliance Report for the financial year ended 31.03.2026.22 May 2026 · Company Update / Reg.24(A)-Annual Secretarial Compliance
Bal Pharma Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 27/05/2026 ,inter alia, to consider and approve 1. Audited financial results of ....18 May 2026 · Board Meeting / Board Meeting
Intimation on resignation of Company Secretary & Compliance officer.12 May 2026 · Company Update / Resignation of Company Secretary / Compliance Officer
Certificate under Regulation 74(5) of SEBI(DP) Regulations, for the quarter ended 31.03.2026.6 Apr 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Closure of Trading Window for the quarter and financial year ended 31.03.2026.23 Mar 2026 · Insider Trading / SAST / Closure of Trading Window
Newspaper publication of Unaudited financial results for the quarter ended 31.12.2025.16 Feb 2026 · Company Update / Newspaper Publication
Unaudited standalone and consolidated financial results for the quarter ended 31.12.2025.11 Feb 2026 · Result / Financial Results
Unaudited standalone and consolidated financial results for the quarter ended 31.12.2025.11 Feb 2026 · Board Meeting / Outcome of Board Meeting

Corporate actions

Purpose	Ex date	Record date	Payment date
Final Dividend - Rs. - 1.2000	17 Sep 2026	17 Sep 2026	—
Dividend - Rs. - 1.2000	18 Sep 2025	18 Sep 2025	—
Final Dividend - Rs. - 1.2000	17 Sep 2024	—	—

Board meetings

11 Nov 2026 Board Meeting - Financial Results
12 Aug 2026 Board Meeting - Financial Results