Bal Pharma

Bengaluru, India Founded: 1987 • Age: 39 yrs Listed
Manufacturer of pharmaceutical APIs, formulations, and Ayurvedic products

About Bal Pharma

Bal Pharma is a publicly listed company based in Bengaluru (India) founded in 1987. Manufacturer of pharmaceutical APIs, formulations, and Ayurvedic products. The company has 986 employees. Its chief executive, as recorded, is Shailesh Siroya. Its Indian entity Bal Pharma Limited reported revenue of β‚Ή314 Cr. Bal Pharma offers products and services including API and Formulations. Its focus areas include Traditional Pharmaceuticals and Diversified.

Company details

Established in 1987 in Bengaluru, India, operations in the pharmaceutical sector are conducted by the company. Active pharmaceutical ingredients and finished dosage forms are produced for export to international markets. Modern medicine is combined with Ayurvedic and herbal preparations across various dosage forms, such as tablets, capsules, syrups, and intravenous infusions. Quality is maintained through established manufacturing processes at dedicated facilities.

  • Headquarters Bengaluru, India
  • Employees 986
  • Stage Public
  • Sectors
    Healthcare
  • Website category Health · Biotechnology and Pharmaceuticals
  • Website balpharma.com
  • Social LinkedIn X Facebook
  • Legal Name Bal Pharma Limited
Key Metrics
  • Market Cap
    ₹131 Cr

    BALPHARMA · NSE

  • Share Price
    ₹83.56

    +1.72% today

  • Revenue
    ₹312 Cr

    FY 2025-26 · +2.8% YoY

  • EBITDA
    ₹31.90 Cr

    Margin 10.2%

  • Net Profit
    ₹6.28 Cr

    FY 2025-26 · -13.0% YoY

  • P/E (TTM)
    18.1x

    P/B 1.6x

  • Employee Count
    986

Products & Services of Bal Pharma

Bal Pharma offers a comprehensive portfolio of products and services, including API and Formulations.

API
Pharmaceutical Products

APIs are produced at manufacturing facilities and exported to international markets, contributing to pharmaceutical supply chains.

Formulations
Pharmaceutical Products

Formulations are developed for domestic and export markets, including semi-regulated and non-regulated areas, to meet healthcare needs.

Board of directors of Bal Pharma Limited (Bal Pharma)

Bal Pharma Limited is the primary company behind Bal Pharma. The board of Bal Pharma Limited currently have 6 directors; the longest-serving is Shailesh Siroya, appointed in 2004. 22 earlier directors have ceased.

DirectorDesignationAppointedTenureEntity
Shailesh Siroya
DIN 00048109
Managing Director01 Aug 200422 yrs 3 moBal Pharma Limited
Virupakshaya Himesh
DIN 08554422
Whole-time director28 Sep 20197 yrs 1 moBal Pharma Limited
Nicola Neeladri
DIN 01997936
Director23 May 20206 yrs 5 moBal Pharma Limited
Jatish Sheth
DIN 00581963
Director28 Dec 20205 yrs 10 moBal Pharma Limited
Ravindrakumar Kothari
DIN 03418320
Director05 May 20251 yr 6 moBal Pharma Limited
Bheekamchand Mukesh
DIN 11295580
Additional Director13 Nov 202511 moBal Pharma Limited

People of Bal Pharma

1 people are tracked at Bal Pharma (1 in leadership); the tracked headcount is 986.

NameRoleGroup
CEO & Managing DirectorLeadership
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Complete people profiles for Bal Pharma

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  • Full employee list
  • Team structure
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  • Professional contacts

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IPO & Listings of Bal Pharma

Bal Pharma is a publicly listed company on the NSE with ticker symbol BALPHARMA in India, operating in the Health technology sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.

  • IPO date08 May 2006
  • Listed onNSE: BALPHARMA
  • Listed entityBal Pharma Limited
  • Exchange sectorHealth technology
  • ISININE083D01012
  • Share price₹98.44 (-0.96% on the day) · 2026-10-14
  • Market capitalisation₹158 Cr
  • Price to earnings21.7
  • EPS (diluted, trailing year)₹4.53
  • Dividend yield1.21%
  • Volume (last session)4,056

Financials of Bal Pharma

Exchange-reported figures of Bal Pharma Limited, the listed company behind Bal Pharma (NSE: BALPHARMA).

Financial Highlights

FY 2025-26 Β· Consolidated
Revenue
₹312 Cr
+2.8% YoY
EBITDA
₹31.90 Cr
+7.2% YoY
Profit After Tax
₹6.28 Cr
-13.0% YoY
Net Worth
₹82.23 Cr
+6.2% YoY
Total Assets
₹254 Cr
+8.0% YoY
Total Debt
₹160 Cr
+6.1% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue312303339304281251171
Revenue growth+2.8%-10.7%+11.5%+8.2%+12.3%+46.4%-
EBITDA31.9029.7630.9225.2623.9724.645.02
EBITDA margin+10.2%+9.8%+9.1%+8.3%+8.5%+9.8%+2.9%
Profit before tax5.935.149.034.769.174.10(13.54)
Net profit6.287.227.322.564.974.72(12.28)
Net profit margin+2.0%+2.4%+2.2%+0.8%+1.8%+1.9%-7.2%
EPS (β‚Ή)3.954.534.681.643.793.20(8.62)
Balance sheet
Total assets254235218201171171171
Net worth82.2377.4272.0063.7958.6353.5852.42
Total debt160150140131104110118
Cash & bank7.218.0513.297.615.393.853.13
Net working capital13913212811995.5597.7193.18
Cash flow
Cash from operations30.8420.3122.81(1.54)27.7122.3423.24
Cash from investing(20.70)(14.92)(18.89)(22.18)(9.48)(5.54)(4.85)
Cash from financing(9.59)(7.84)(1.21)24.09(18.13)(16.63)(19.97)
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue88.6284.0887.6974.0265.8781.8873.1573.69
Revenue growth (YoY)+34.5%+2.7%+19.9%+0.5%-11.4%---
Other income0.44(0.24)0.331.120.721.080.51(0.20)
EBITDA7.9510.579.555.736.067.647.757.69
EBITDA margin+9.0%+12.6%+10.9%+7.7%+9.2%+9.3%+10.6%+10.4%
Depreciation2.783.063.232.272.522.182.692.48
Interest4.474.064.853.864.053.955.013.65
Profit before tax1.143.211.800.720.212.590.561.36
Tax0.00(0.39)0.000.000.00(2.82)0.040.32
Net profit1.143.601.800.720.215.410.521.04
EPS (β‚Ή)0.712.261.120.450.133.400.330.65
MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue311302339303280249171
Revenue growth+2.7%-10.7%+11.7%+8.1%+12.5%+46.1%-
EBITDA32.2330.2831.7226.4323.7026.617.02
EBITDA margin+10.4%+10.0%+9.4%+8.7%+8.5%+10.7%+4.1%
Profit before tax6.365.749.338.5512.059.79(9.07)
Net profit6.757.817.686.107.799.05(8.89)
Net profit margin+2.2%+2.6%+2.3%+2.0%+2.8%+3.6%-5.2%
EPS (β‚Ή)4.514.904.893.905.796.14(6.28)
Balance sheet
Total assets270250233227194191172
Net worth10498.8292.8396.0387.3279.3265.94
Total debt15414513412598.0110499.43
Cash & bank7.107.9413.157.355.093.722.95
Net working capital152145140152127127105
Cash flow
Cash from operations30.8320.3128.545.3831.4810.2321.71
Cash from investing(20.69)(14.90)(18.84)(22.08)(13.43)(6.66)(3.30)
Cash from financing(9.58)(7.83)(6.94)17.12(18.13)(3.36)(19.94)
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue88.4383.9287.4973.7565.6481.7872.8974.70
Revenue growth (YoY)+34.7%+2.6%+20.0%-1.3%-10.2%---
Other income0.46(0.22)0.351.130.740.990.510.35
Total expenses80.4873.2977.8267.9859.4873.9564.9567.22
EBITDA7.9510.639.675.776.167.837.947.48
EBITDA margin+9.0%+12.7%+11.1%+7.8%+9.4%+9.6%+10.9%+10.0%
Depreciation2.783.043.232.272.522.072.682.12
Interest4.474.054.853.864.053.945.024.18
Profit before tax1.163.321.940.770.332.810.751.53
Tax0.00(0.39)0.000.000.00(2.79)0.040.32

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 05 Nov 2026
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue88.6284.0887.6974.0265.8781.8873.1573.69
Revenue growth (YoY)+34.5%+2.7%+19.9%+0.5%-11.4%---
Other income0.44(0.24)0.331.120.721.080.51(0.20)
EBITDA7.9510.579.555.736.067.647.757.69
EBITDA margin+9.0%+12.6%+10.9%+7.7%+9.2%+9.3%+10.6%+10.4%
Depreciation2.783.063.232.272.522.182.692.48
Interest4.474.064.853.864.053.955.013.65
Profit before tax1.143.211.800.720.212.590.561.36
Tax0.00(0.39)0.000.000.00(2.82)0.040.32
Net profit1.143.601.800.720.215.410.521.04
EPS (β‚Ή)0.712.261.120.450.133.400.330.65
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue312303339304281251171
Revenue growth+2.8%-10.7%+11.5%+8.2%+12.3%+46.4%-
Other income1.932.202.850.945.151.141.85
Total expenses280273308279257226166
Employee cost0.0062.4060.4855.3047.2541.8850.44
EBITDA31.9029.7630.9225.2623.9724.645.02
EBITDA margin+10.2%+9.8%+9.1%+8.3%+8.5%+9.8%+2.9%
Depreciation11.089.7710.079.139.049.527.68
Interest16.8217.0514.6712.3110.9112.1612.73
Profit before tax5.935.149.034.769.174.10(13.54)
Tax(0.39)(2.10)1.612.133.48(0.61)(0.64)
Net profit6.287.227.322.564.974.72(12.28)
Net profit margin+2.0%+2.4%+2.2%+0.8%+1.8%+1.9%-7.2%
EPS (β‚Ή)3.954.534.681.643.793.20(8.62)
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital15.9215.9215.8015.6914.8214.8214.17
Reserves & surplus66.3161.5056.2048.1042.8737.8238.25
Shareholders' funds (net worth)82.2377.4272.0063.7958.6353.5852.42
Minority interest0.03(0.01)(0.03)(0.09)(0.13)(0.23)(7.10)
Secured loans15414513412597.7110498.63
Unsecured loans5.775.775.775.775.935.9819.82
Total debt160150140131104110118
Total liabilities254235218201171171171
Assets
Gross block17515714012711110597.70
Net block94.0086.8179.5276.4667.3968.5870.70
Capital work in progress7.422.790.470.001.610.003.32
Investments2.082.476.760.000.000.000.00
Inventories11610387.8198.0174.4060.3967.71
Sundry debtors93.6392.4499.6293.9875.3167.2049.60
Cash & bank balances7.218.0513.297.615.393.853.13
Loans & advances42.9628.8926.6828.5629.4732.7236.92
Total current assets260232227228185164157
Total current liabilities12210199.8110989.0266.4564.18
Net working capital13913212811995.5597.7193.18
Total assets254235218201171171171
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash1.754.201.491.111.020.862.44
Net cash from operating activities30.8420.3122.81(1.54)27.7122.3423.24
Net cash from investing activities(20.70)(14.92)(18.89)(22.18)(9.48)(5.54)(4.85)
Net cash from financing activities(9.59)(7.84)(1.21)24.09(18.13)(16.63)(19.97)
Net change in cash0.55(2.44)2.710.370.090.16(1.58)
Closing cash7.218.0513.297.615.393.853.13
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+2.8%-10.7%+11.5%+8.2%+12.3%+46.4%-
EBITDA growth+7.2%-3.8%+22.4%+5.4%-2.7%+390.8%-
PBT growth+15.4%-43.1%+89.7%-48.1%+123.7%+9998.0%-7026.3%
Net income growth-13.0%-1.4%+185.9%-48.5%+5.3%+138.4%-
Revenue CAGR (3Y)+0.8%+2.5%+10.6%+21.2%+7.7%+5.8%-9.3%
EBITDA CAGR (3Y)+8.1%+7.5%+7.9%+71.4%+10.7%+12.4%-30.3%
Profitability & leverage
Net income margin+2.0%+2.4%+2.2%+0.9%+2.0%+1.9%-7.5%
Return on capital employed-+9.8%+11.3%+9.2%+11.0%+9.3%-0.4%
Return on net worth-+9.7%+11.0%+4.3%+9.0%+8.9%-21.7%
Debt / equity-1.941.991.921.902.162.03
Long-term debt / equity-0.450.490.470.340.410.44
Interest cover80.7985.2970.3676.3273.0780.42-478.57
Efficiency & per share
Fixed asset turnover-2.042.542.552.602.471.83
Inventory turnover-3.183.653.534.173.912.49
Debtors turnover-3.163.503.593.954.292.99
EPS (β‚Ή)3.954.534.681.643.793.20(8.62)
Dividend per share (β‚Ή)1.201.201.201.001.001.000.00
Book value per share (β‚Ή)0.0048.6345.5640.6638.9235.5236.99
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue88.4383.9287.4973.7565.6481.7872.8974.70
Revenue growth (YoY)+34.7%+2.6%+20.0%-1.3%-10.2%---
Other income0.46(0.22)0.351.130.740.990.510.35
Total expenses80.4873.2977.8267.9859.4873.9564.9567.22
EBITDA7.9510.639.675.776.167.837.947.48
EBITDA margin+9.0%+12.7%+11.1%+7.8%+9.4%+9.6%+10.9%+10.0%
Depreciation2.783.043.232.272.522.072.682.12
Interest4.474.054.853.864.053.945.024.18
Profit before tax1.163.321.940.770.332.810.751.53
Tax0.00(0.39)0.000.000.00(2.79)0.040.32
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue311302339303280249171
Revenue growth+2.7%-10.7%+11.7%+8.1%+12.5%+46.1%-
Other income2.002.152.302.196.492.693.63
Total expenses279272307277257223164
Employee cost0.0061.8359.5751.5644.4639.6248.78
EBITDA32.2330.2831.7226.4323.7026.617.02
EBITDA margin+10.4%+10.0%+9.4%+8.7%+8.5%+10.7%+4.1%
Depreciation11.069.6510.057.487.247.267.03
Interest16.8117.0414.6412.5910.9012.2512.69
Profit before tax6.365.749.338.5512.059.79(9.07)
Tax(0.39)(2.07)1.602.423.480.70(0.18)
Net profit6.757.817.686.107.799.05(8.89)
Net profit margin+2.2%+2.6%+2.3%+2.0%+2.8%+3.6%-5.2%
EPS (β‚Ή)4.514.904.893.905.796.14(6.28)
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital15.9215.9215.8015.6914.8214.8214.17
Reserves & surplus88.1882.9077.0380.3471.5663.5651.77
Shareholders' funds (net worth)10498.8292.8396.0387.3279.3265.94
Secured loans15414513412597.8410498.63
Unsecured loans0.000.000.000.000.170.210.80
Total debt15414513412598.0110499.43
Total liabilities270250233227194191172
Assets
Gross block17515714010792.1286.1382.36
Net block93.9886.7779.3863.0752.9052.6556.13
Capital work in progress7.422.790.470.001.160.000.11
Investments4.244.638.928.408.408.407.42
Inventories11610387.5397.6973.9760.1267.55
Sundry debtors96.3694.8510294.8477.9169.4451.66
Cash & bank balances7.107.9413.157.355.093.722.95
Loans & advances53.9639.6237.2570.0763.2959.9246.55
Total current assets274245240270220193169
Total current liabilities12110099.6511793.5966.5663.66
Net working capital152145140152127127105
Total assets270250233227194191172
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash1.644.061.300.810.890.682.20
Net cash from operating activities30.8320.3128.545.3831.4810.2321.71
Net cash from investing activities(20.69)(14.90)(18.84)(22.08)(13.43)(6.66)(3.30)
Net cash from financing activities(9.58)(7.83)(6.94)17.12(18.13)(3.36)(19.94)
Net change in cash0.56(2.42)2.760.42(0.08)0.21(1.52)
Closing cash7.107.9413.157.355.093.722.95
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+2.7%-10.7%+11.7%+8.1%+12.5%+46.1%-
EBITDA growth+6.4%-4.5%+20.0%+11.5%-10.9%+279.1%-
PBT growth+10.8%-38.5%+9.1%-29.1%+23.1%+9998.0%-
Net income growth-13.6%+1.7%+25.9%-21.7%-13.9%+201.8%-
Revenue CAGR (3Y)+0.8%+2.6%+10.7%+21.1%+7.9%+5.9%-8.9%
EBITDA CAGR (3Y)+6.8%+8.5%+6.0%+55.6%+5.0%+5.1%-29.6%
Profitability & leverage
Net income margin+2.2%+2.6%+2.3%+2.0%+3.1%+3.7%-5.2%
Return on capital employed-+9.4%+10.4%+10.1%+11.3%+12.2%+2.0%
Return on net worth-+8.1%+8.2%+6.7%+9.4%+12.5%-12.5%
Debt / equity-1.451.371.221.211.401.43
Long-term debt / equity-0.350.350.310.230.300.36
Interest cover79.4082.6067.5666.4466.2263.31-1,26,900.00
Efficiency & per share
Fixed asset turnover-2.042.743.043.152.962.15
Inventory turnover-3.183.663.534.183.912.49
Debtors turnover-3.083.443.513.814.122.91
EPS (β‚Ή)4.514.904.893.905.796.14(6.28)
Dividend per share (β‚Ή)1.201.201.201.001.001.000.00
Book value per share (β‚Ή)0.0062.0758.7461.2158.2852.8846.53

Web traffic of Bal Pharma

The website of Bal Pharma (balpharma.com) receives about 3K visits a month and ranks #7,146,280 among all websites worldwide, #6,916 in Biotechnology and Pharmaceuticals.

  • Monthly visits
    3K

    ▲ 36.8% vs previous month

  • Global rank
    #7,146,280

    among all websites

  • Category rank
    #6,916

    Health · Biotechnology and Pharmaceuticals

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Top companies in Traditional Health & Nutrition

3 companies that operate in the same segment as Bal Pharma (Traditional Health & Nutrition) in India, ranked by their profile score on The Company Check.

CompanyDescriptionFoundedLocationTotal fundingRevenueEmployees
Oral solid drug delivery systems are manufactured and developed.
1985Mumbai, Maharashtra, IndiaUSD 42.49 MUSD 89.42 M962
Generic, semi-solid, and liquid dosage forms are manufactured.
1990Bengaluru, Karnataka, IndiaUSD 508.93 M4,050
Specialty generic pharmaceuticals and APIs are manufactured and marketed.
1983Mumbai, Maharashtra, IndiaUSD 6.44 B19,801
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Related news about Bal Pharma

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Frequently Asked Questions about Bal Pharma

Bal Pharma was founded in 1987.

Bal Pharma is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.

Shailesh Siroya is the CEO of Bal Pharma, as recorded in our data.

Bal Pharma has 986 employees.

The primary company behind Bal Pharma, Bal Pharma Limited, reported revenue of β‚Ή314 Cr for FY 2026, up 3% year on year.

Established in 1987 in Bengaluru, India, operations in the pharmaceutical sector are conducted by the company. Active pharmaceutical ingredients and finished dosage forms are produced for export to international markets. Modern medicine is combined with Ayurvedic and herbal preparations across various dosage forms, such as tablets, capsules, syrups, and intravenous infusions. Quality is maintained through established manufacturing processes at dedicated facilities.

Bal Pharma offers API and Formulations.

Yes, Bal Pharma is publicly traded on NSE under the ticker symbol BALPHARMA.

Bal Pharma operates through Bal Pharma Limited.

The legal entities of Bal Pharma currently have 8 directors, including Jatish Sheth, Nicola Neeladri, Shailesh Siroya and others.

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