MSME (Udyam registered) Ministry of MSME
- Category
- Medium (2024-25)
- Udyam number
- UDYAM-KR-03-0040501
Market Cap
₹129 Cr
BALPHARMA · NSE
Share Price
₹78.60
-3.07% 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)
19.3x
P/B 1.7x
Authorised capital
₹24.5 Cr
Registered with MCA
Paid-up capital
₹15.92 Cr
Issued & subscribed
About Bal Pharma Limited
Data last updated:
Bal Pharma Limited is a public limited company based in Bangalore, Karnataka, India. It operates in the API manufacturers segment of the pharmaceuticals sector. It was incorporated on 19 May 1987 and has been in existence for over 39 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN L85110KA1987PLC008368. Its GSTIN is 29AABCB0512E1ZB (Karnataka). The company holds 22 GST registrations, of which 10 are active. It is a listed company as per MCA records. Its shares are listed on BSE: 524824 and NSE: BALPHARMA.
The company has an authorised share capital of ₹24.5 Cr and a paid-up capital of ₹15.92 Cr. It is led by directors including Shailesh Siroya (Managing Director) and Virupakshaya Himesh (Whole-Time Director).
Its last annual general meeting (AGM) was held on 25 September 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at Bangalore, Karnataka.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹311.66 Cr, a growth of 2.8% compared to the previous year. For the same year it recorded a net profit of ₹6.28 Cr (net margin 2%) and EBITDA of ₹31.9 Cr (EBITDA margin 10.2%). The net worth stands at ₹82.23 Cr (up 6.2% YoY). Total assets are valued at ₹253.94 Cr (up 8% YoY).
The company has about 715 employees on its provident fund (EPFO) records. Its group structure includes 4 subsidiaries.
The company is associated with 1 brand: Bal Pharma. As per MCA filings, the company has open charges of ₹234.22 Cr and satisfied charges of ₹198.12 Cr on record. Court records list 202 cases involving the company, including 114 filed by the company and 89 filed against it; 25 cases are pending. The company has 90 deals on record (86 market trades, 4 funding rounds), with disclosed funding of ₹19.89 Cr; the latest was in July 2026. Its 9 peer companies in the Pharma industry (API Manufacturers), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products) are compared by revenue, 5 larger and 4 smaller; the largest is Mehta Api Private Limited with revenue of ₹325.77 Cr.
Bal Pharma Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-KR-03-0040501). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website balpharma.com.
Company details
CIN L85110KA1987PLC008368
Registration Number 008368
Incorporation Date 19 May 1987
ROC Bangalore
Listing Status Listed - Listed on NSE (BALPHARMA); Listed on BSE (524824)
Company Status Active
Date of Last AGM 25 September 2025
Date of Balance Sheet 31 March 2026
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-KR-03-0040501
Key People
Shailesh Siroya Managing Director Virupakshaya Himesh Whole-Time Director Jatish Sheth Director Recognitions & Rankings of Bal Pharma
Contact details
Bal Pharma Limited's registered office is in Bangalore, Karnataka. Its website is balpharma.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address21 – 22 Bommasandra, Industrial Area, Bangalore, Karnataka, India – 560099
- IndustryPharma, API Manufacturers
To see the full contact details of Bal Pharma Limited, buy the company report.
Comprehensive company report
Bal Pharma Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
₹799 ₹999 20% off excluding 18% GST
Secure checkout · GST invoice included
Brands
Bal Pharma operates one associated brand: Bal Pharma. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Manufacturer of pharmaceutical APIs, formulations, and Ayurvedic products | balpharma.com |
Business activity
The main business activity of Bal Pharma is manufacturing. In detail, this covers chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C6 | Chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products |
To see the full business activity and turnover split of Bal Pharma Limited, buy the company report.
Financials of Bal Pharma Limited
FY 2025-26 filings availableBal Pharma Limited reported revenue of ₹311.66 Cr (up 2.8% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue
₹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
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 312 | 303 | 339 | 304 | 281 | 251 | 171 |
| Revenue growth | +2.8% | -10.7% | +11.5% | +8.2% | +12.3% | +46.4% | - |
| EBITDA | 31.90 | 29.76 | 30.92 | 25.26 | 23.97 | 24.64 | 5.02 |
| EBITDA margin | +10.2% | +9.8% | +9.1% | +8.3% | +8.5% | +9.8% | +2.9% |
| Profit before tax | 5.93 | 5.14 | 9.03 | 4.76 | 9.17 | 4.10 | (13.54) |
| Net profit | 6.28 | 7.22 | 7.32 | 2.56 | 4.97 | 4.72 | (12.28) |
| Net profit margin | +2.0% | +2.4% | +2.2% | +0.8% | +1.8% | +1.9% | -7.2% |
| EPS (₹) | 3.95 | 4.53 | 4.68 | 1.64 | 3.79 | 3.20 | (8.62) |
| Balance sheet | |||||||
| Total assets | 254 | 235 | 218 | 201 | 171 | 171 | 171 |
| Net worth | 82.23 | 77.42 | 72.00 | 63.79 | 58.63 | 53.58 | 52.42 |
| Total debt | 160 | 150 | 140 | 131 | 104 | 110 | 118 |
| Cash & bank | 7.21 | 8.05 | 13.29 | 7.61 | 5.39 | 3.85 | 3.13 |
| Net working capital | 139 | 132 | 128 | 119 | 95.55 | 97.71 | 93.18 |
| Cash flow | |||||||
| Cash from operations | 30.84 | 20.31 | 22.81 | (1.54) | 27.71 | 22.34 | 23.24 |
| 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) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 88.62 | 84.08 | 87.69 | 74.02 | 65.87 | 81.88 | 73.15 | 73.69 |
| Revenue growth (YoY) | +34.5% | +2.7% | +19.9% | +0.5% | -11.4% | - | - | - |
| Other income | 0.44 | (0.24) | 0.33 | 1.12 | 0.72 | 1.08 | 0.51 | (0.20) |
| EBITDA | 7.95 | 10.57 | 9.55 | 5.73 | 6.06 | 7.64 | 7.75 | 7.69 |
| EBITDA margin | +9.0% | +12.6% | +10.9% | +7.7% | +9.2% | +9.3% | +10.6% | +10.4% |
| Depreciation | 2.78 | 3.06 | 3.23 | 2.27 | 2.52 | 2.18 | 2.69 | 2.48 |
| Interest | 4.47 | 4.06 | 4.85 | 3.86 | 4.05 | 3.95 | 5.01 | 3.65 |
| Profit before tax | 1.14 | 3.21 | 1.80 | 0.72 | 0.21 | 2.59 | 0.56 | 1.36 |
| Tax | 0.00 | (0.39) | 0.00 | 0.00 | 0.00 | (2.82) | 0.04 | 0.32 |
| Net profit | 1.14 | 3.60 | 1.80 | 0.72 | 0.21 | 5.41 | 0.52 | 1.04 |
| EPS (₹) | 0.71 | 2.26 | 1.12 | 0.45 | 0.13 | 3.40 | 0.33 | 0.65 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 311 | 302 | 339 | 303 | 280 | 249 | 171 |
| Revenue growth | +2.7% | -10.7% | +11.7% | +8.1% | +12.5% | +46.1% | - |
| EBITDA | 32.23 | 30.28 | 31.72 | 26.43 | 23.70 | 26.61 | 7.02 |
| EBITDA margin | +10.4% | +10.0% | +9.4% | +8.7% | +8.5% | +10.7% | +4.1% |
| Profit before tax | 6.36 | 5.74 | 9.33 | 8.55 | 12.05 | 9.79 | (9.07) |
| Net profit | 6.75 | 7.81 | 7.68 | 6.10 | 7.79 | 9.05 | (8.89) |
| Net profit margin | +2.2% | +2.6% | +2.3% | +2.0% | +2.8% | +3.6% | -5.2% |
| EPS (₹) | 4.51 | 4.90 | 4.89 | 3.90 | 5.79 | 6.14 | (6.28) |
| Balance sheet | |||||||
| Total assets | 270 | 250 | 233 | 227 | 194 | 191 | 172 |
| Net worth | 104 | 98.82 | 92.83 | 96.03 | 87.32 | 79.32 | 65.94 |
| Total debt | 154 | 145 | 134 | 125 | 98.01 | 104 | 99.43 |
| Cash & bank | 7.10 | 7.94 | 13.15 | 7.35 | 5.09 | 3.72 | 2.95 |
| Net working capital | 152 | 145 | 140 | 152 | 127 | 127 | 105 |
| Cash flow | |||||||
| Cash from operations | 30.83 | 20.31 | 28.54 | 5.38 | 31.48 | 10.23 | 21.71 |
| 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) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 88.43 | 83.92 | 87.49 | 73.75 | 65.64 | 81.78 | 72.89 | 74.70 |
| Revenue growth (YoY) | +34.7% | +2.6% | +20.0% | -1.3% | -10.2% | - | - | - |
| Other income | 0.46 | (0.22) | 0.35 | 1.13 | 0.74 | 0.99 | 0.51 | 0.35 |
| Total expenses | 80.48 | 73.29 | 77.82 | 67.98 | 59.48 | 73.95 | 64.95 | 67.22 |
| EBITDA | 7.95 | 10.63 | 9.67 | 5.77 | 6.16 | 7.83 | 7.94 | 7.48 |
| EBITDA margin | +9.0% | +12.7% | +11.1% | +7.8% | +9.4% | +9.6% | +10.9% | +10.0% |
| Depreciation | 2.78 | 3.04 | 3.23 | 2.27 | 2.52 | 2.07 | 2.68 | 2.12 |
| Interest | 4.47 | 4.05 | 4.85 | 3.86 | 4.05 | 3.94 | 5.02 | 4.18 |
| Profit before tax | 1.16 | 3.32 | 1.94 | 0.77 | 0.33 | 2.81 | 0.75 | 1.53 |
| Tax | 0.00 | (0.39) | 0.00 | 0.00 | 0.00 | (2.79) | 0.04 | 0.32 |
Financial Statements
Figures in ₹ Cr; negatives in brackets. Updated 26 Oct 2026
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 88.62 | 84.08 | 87.69 | 74.02 | 65.87 | 81.88 | 73.15 | 73.69 |
| Revenue growth (YoY) | +34.5% | +2.7% | +19.9% | +0.5% | -11.4% | - | - | - |
| Other income | 0.44 | (0.24) | 0.33 | 1.12 | 0.72 | 1.08 | 0.51 | (0.20) |
| EBITDA | 7.95 | 10.57 | 9.55 | 5.73 | 6.06 | 7.64 | 7.75 | 7.69 |
| EBITDA margin | +9.0% | +12.6% | +10.9% | +7.7% | +9.2% | +9.3% | +10.6% | +10.4% |
| Depreciation | 2.78 | 3.06 | 3.23 | 2.27 | 2.52 | 2.18 | 2.69 | 2.48 |
| Interest | 4.47 | 4.06 | 4.85 | 3.86 | 4.05 | 3.95 | 5.01 | 3.65 |
| Profit before tax | 1.14 | 3.21 | 1.80 | 0.72 | 0.21 | 2.59 | 0.56 | 1.36 |
| Tax | 0.00 | (0.39) | 0.00 | 0.00 | 0.00 | (2.82) | 0.04 | 0.32 |
| Net profit | 1.14 | 3.60 | 1.80 | 0.72 | 0.21 | 5.41 | 0.52 | 1.04 |
| EPS (₹) | 0.71 | 2.26 | 1.12 | 0.45 | 0.13 | 3.40 | 0.33 | 0.65 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 312 | 303 | 339 | 304 | 281 | 251 | 171 |
| Revenue growth | +2.8% | -10.7% | +11.5% | +8.2% | +12.3% | +46.4% | - |
| Other income | 1.93 | 2.20 | 2.85 | 0.94 | 5.15 | 1.14 | 1.85 |
| Total expenses | 280 | 273 | 308 | 279 | 257 | 226 | 166 |
| Employee cost | 0.00 | 62.40 | 60.48 | 55.30 | 47.25 | 41.88 | 50.44 |
| EBITDA | 31.90 | 29.76 | 30.92 | 25.26 | 23.97 | 24.64 | 5.02 |
| EBITDA margin | +10.2% | +9.8% | +9.1% | +8.3% | +8.5% | +9.8% | +2.9% |
| Depreciation | 11.08 | 9.77 | 10.07 | 9.13 | 9.04 | 9.52 | 7.68 |
| Interest | 16.82 | 17.05 | 14.67 | 12.31 | 10.91 | 12.16 | 12.73 |
| Profit before tax | 5.93 | 5.14 | 9.03 | 4.76 | 9.17 | 4.10 | (13.54) |
| Tax | (0.39) | (2.10) | 1.61 | 2.13 | 3.48 | (0.61) | (0.64) |
| Net profit | 6.28 | 7.22 | 7.32 | 2.56 | 4.97 | 4.72 | (12.28) |
| Net profit margin | +2.0% | +2.4% | +2.2% | +0.8% | +1.8% | +1.9% | -7.2% |
| EPS (₹) | 3.95 | 4.53 | 4.68 | 1.64 | 3.79 | 3.20 | (8.62) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 15.92 | 15.92 | 15.80 | 15.69 | 14.82 | 14.82 | 14.17 |
| Reserves & surplus | 66.31 | 61.50 | 56.20 | 48.10 | 42.87 | 37.82 | 38.25 |
| Shareholders' funds (net worth) | 82.23 | 77.42 | 72.00 | 63.79 | 58.63 | 53.58 | 52.42 |
| Minority interest | 0.03 | (0.01) | (0.03) | (0.09) | (0.13) | (0.23) | (7.10) |
| Secured loans | 154 | 145 | 134 | 125 | 97.71 | 104 | 98.63 |
| Unsecured loans | 5.77 | 5.77 | 5.77 | 5.77 | 5.93 | 5.98 | 19.82 |
| Total debt | 160 | 150 | 140 | 131 | 104 | 110 | 118 |
| Total liabilities | 254 | 235 | 218 | 201 | 171 | 171 | 171 |
| Assets | |||||||
| Gross block | 175 | 157 | 140 | 127 | 111 | 105 | 97.70 |
| Net block | 94.00 | 86.81 | 79.52 | 76.46 | 67.39 | 68.58 | 70.70 |
| Capital work in progress | 7.42 | 2.79 | 0.47 | 0.00 | 1.61 | 0.00 | 3.32 |
| Investments | 2.08 | 2.47 | 6.76 | 0.00 | 0.00 | 0.00 | 0.00 |
| Inventories | 116 | 103 | 87.81 | 98.01 | 74.40 | 60.39 | 67.71 |
| Sundry debtors | 93.63 | 92.44 | 99.62 | 93.98 | 75.31 | 67.20 | 49.60 |
| Cash & bank balances | 7.21 | 8.05 | 13.29 | 7.61 | 5.39 | 3.85 | 3.13 |
| Loans & advances | 42.96 | 28.89 | 26.68 | 28.56 | 29.47 | 32.72 | 36.92 |
| Total current assets | 260 | 232 | 227 | 228 | 185 | 164 | 157 |
| Total current liabilities | 122 | 101 | 99.81 | 109 | 89.02 | 66.45 | 64.18 |
| Net working capital | 139 | 132 | 128 | 119 | 95.55 | 97.71 | 93.18 |
| Total assets | 254 | 235 | 218 | 201 | 171 | 171 | 171 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 1.75 | 4.20 | 1.49 | 1.11 | 1.02 | 0.86 | 2.44 |
| Net cash from operating activities | 30.84 | 20.31 | 22.81 | (1.54) | 27.71 | 22.34 | 23.24 |
| 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 cash | 0.55 | (2.44) | 2.71 | 0.37 | 0.09 | 0.16 | (1.58) |
| Closing cash | 7.21 | 8.05 | 13.29 | 7.61 | 5.39 | 3.85 | 3.13 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 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 | - | 1.94 | 1.99 | 1.92 | 1.90 | 2.16 | 2.03 |
| Long-term debt / equity | - | 0.45 | 0.49 | 0.47 | 0.34 | 0.41 | 0.44 |
| Interest cover | 80.79 | 85.29 | 70.36 | 76.32 | 73.07 | 80.42 | -478.57 |
| Efficiency & per share | |||||||
| Fixed asset turnover | - | 2.04 | 2.54 | 2.55 | 2.60 | 2.47 | 1.83 |
| Inventory turnover | - | 3.18 | 3.65 | 3.53 | 4.17 | 3.91 | 2.49 |
| Debtors turnover | - | 3.16 | 3.50 | 3.59 | 3.95 | 4.29 | 2.99 |
| EPS (₹) | 3.95 | 4.53 | 4.68 | 1.64 | 3.79 | 3.20 | (8.62) |
| Dividend per share (₹) | 1.20 | 1.20 | 1.20 | 1.00 | 1.00 | 1.00 | 0.00 |
| Book value per share (₹) | 0.00 | 48.63 | 45.56 | 40.66 | 38.92 | 35.52 | 36.99 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 88.43 | 83.92 | 87.49 | 73.75 | 65.64 | 81.78 | 72.89 | 74.70 |
| Revenue growth (YoY) | +34.7% | +2.6% | +20.0% | -1.3% | -10.2% | - | - | - |
| Other income | 0.46 | (0.22) | 0.35 | 1.13 | 0.74 | 0.99 | 0.51 | 0.35 |
| Total expenses | 80.48 | 73.29 | 77.82 | 67.98 | 59.48 | 73.95 | 64.95 | 67.22 |
| EBITDA | 7.95 | 10.63 | 9.67 | 5.77 | 6.16 | 7.83 | 7.94 | 7.48 |
| EBITDA margin | +9.0% | +12.7% | +11.1% | +7.8% | +9.4% | +9.6% | +10.9% | +10.0% |
| Depreciation | 2.78 | 3.04 | 3.23 | 2.27 | 2.52 | 2.07 | 2.68 | 2.12 |
| Interest | 4.47 | 4.05 | 4.85 | 3.86 | 4.05 | 3.94 | 5.02 | 4.18 |
| Profit before tax | 1.16 | 3.32 | 1.94 | 0.77 | 0.33 | 2.81 | 0.75 | 1.53 |
| Tax | 0.00 | (0.39) | 0.00 | 0.00 | 0.00 | (2.79) | 0.04 | 0.32 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 311 | 302 | 339 | 303 | 280 | 249 | 171 |
| Revenue growth | +2.7% | -10.7% | +11.7% | +8.1% | +12.5% | +46.1% | - |
| Other income | 2.00 | 2.15 | 2.30 | 2.19 | 6.49 | 2.69 | 3.63 |
| Total expenses | 279 | 272 | 307 | 277 | 257 | 223 | 164 |
| Employee cost | 0.00 | 61.83 | 59.57 | 51.56 | 44.46 | 39.62 | 48.78 |
| EBITDA | 32.23 | 30.28 | 31.72 | 26.43 | 23.70 | 26.61 | 7.02 |
| EBITDA margin | +10.4% | +10.0% | +9.4% | +8.7% | +8.5% | +10.7% | +4.1% |
| Depreciation | 11.06 | 9.65 | 10.05 | 7.48 | 7.24 | 7.26 | 7.03 |
| Interest | 16.81 | 17.04 | 14.64 | 12.59 | 10.90 | 12.25 | 12.69 |
| Profit before tax | 6.36 | 5.74 | 9.33 | 8.55 | 12.05 | 9.79 | (9.07) |
| Tax | (0.39) | (2.07) | 1.60 | 2.42 | 3.48 | 0.70 | (0.18) |
| Net profit | 6.75 | 7.81 | 7.68 | 6.10 | 7.79 | 9.05 | (8.89) |
| Net profit margin | +2.2% | +2.6% | +2.3% | +2.0% | +2.8% | +3.6% | -5.2% |
| EPS (₹) | 4.51 | 4.90 | 4.89 | 3.90 | 5.79 | 6.14 | (6.28) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 15.92 | 15.92 | 15.80 | 15.69 | 14.82 | 14.82 | 14.17 |
| Reserves & surplus | 88.18 | 82.90 | 77.03 | 80.34 | 71.56 | 63.56 | 51.77 |
| Shareholders' funds (net worth) | 104 | 98.82 | 92.83 | 96.03 | 87.32 | 79.32 | 65.94 |
| Secured loans | 154 | 145 | 134 | 125 | 97.84 | 104 | 98.63 |
| Unsecured loans | 0.00 | 0.00 | 0.00 | 0.00 | 0.17 | 0.21 | 0.80 |
| Total debt | 154 | 145 | 134 | 125 | 98.01 | 104 | 99.43 |
| Total liabilities | 270 | 250 | 233 | 227 | 194 | 191 | 172 |
| Assets | |||||||
| Gross block | 175 | 157 | 140 | 107 | 92.12 | 86.13 | 82.36 |
| Net block | 93.98 | 86.77 | 79.38 | 63.07 | 52.90 | 52.65 | 56.13 |
| Capital work in progress | 7.42 | 2.79 | 0.47 | 0.00 | 1.16 | 0.00 | 0.11 |
| Investments | 4.24 | 4.63 | 8.92 | 8.40 | 8.40 | 8.40 | 7.42 |
| Inventories | 116 | 103 | 87.53 | 97.69 | 73.97 | 60.12 | 67.55 |
| Sundry debtors | 96.36 | 94.85 | 102 | 94.84 | 77.91 | 69.44 | 51.66 |
| Cash & bank balances | 7.10 | 7.94 | 13.15 | 7.35 | 5.09 | 3.72 | 2.95 |
| Loans & advances | 53.96 | 39.62 | 37.25 | 70.07 | 63.29 | 59.92 | 46.55 |
| Total current assets | 274 | 245 | 240 | 270 | 220 | 193 | 169 |
| Total current liabilities | 121 | 100 | 99.65 | 117 | 93.59 | 66.56 | 63.66 |
| Net working capital | 152 | 145 | 140 | 152 | 127 | 127 | 105 |
| Total assets | 270 | 250 | 233 | 227 | 194 | 191 | 172 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 1.64 | 4.06 | 1.30 | 0.81 | 0.89 | 0.68 | 2.20 |
| Net cash from operating activities | 30.83 | 20.31 | 28.54 | 5.38 | 31.48 | 10.23 | 21.71 |
| 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 cash | 0.56 | (2.42) | 2.76 | 0.42 | (0.08) | 0.21 | (1.52) |
| Closing cash | 7.10 | 7.94 | 13.15 | 7.35 | 5.09 | 3.72 | 2.95 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 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 | - | 1.45 | 1.37 | 1.22 | 1.21 | 1.40 | 1.43 |
| Long-term debt / equity | - | 0.35 | 0.35 | 0.31 | 0.23 | 0.30 | 0.36 |
| Interest cover | 79.40 | 82.60 | 67.56 | 66.44 | 66.22 | 63.31 | -1,26,900.00 |
| Efficiency & per share | |||||||
| Fixed asset turnover | - | 2.04 | 2.74 | 3.04 | 3.15 | 2.96 | 2.15 |
| Inventory turnover | - | 3.18 | 3.66 | 3.53 | 4.18 | 3.91 | 2.49 |
| Debtors turnover | - | 3.08 | 3.44 | 3.51 | 3.81 | 4.12 | 2.91 |
| EPS (₹) | 4.51 | 4.90 | 4.89 | 3.90 | 5.79 | 6.14 | (6.28) |
| Dividend per share (₹) | 1.20 | 1.20 | 1.20 | 1.00 | 1.00 | 1.00 | 0.00 |
| Book value per share (₹) | 0.00 | 62.07 | 58.74 | 61.21 | 58.28 | 52.88 | 46.53 |
To see the full year-wise statements and ratios of Bal Pharma Limited, buy the company report.
Board of directors of Bal Pharma Limited
Bal Pharma has 6 current directors and 20 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Jatish Sheth Also directs: Meganza Pharma LLP, Srushti Pharmaceuticals Private Limited | Director | 28 Dec 2020 | 5 Years 9 Months | Current |
| Nicola Neeladri | Director | 23 May 2020 | 6 Years 5 Months | Current |
| Shailesh Siroya Also directs: Balance Clinics LLP, Lifezen Healthcare Private Limited, Kaunshya Investments Private Limited and 2 more | Managing Director | 01 Aug 2004 | 22 Years 2 Months | Current |
| Virupakshaya Himesh | Whole-Time Director | 28 Sep 2019 | 7 Years 0 Months | Current |
| Bheekamchand Mukesh | Additional Director | 13 Nov 2025 | 0 Years 11 Months | Current |
| Ravindrakumar Kothari Also directs: Balance Clinics LLP, Lifezen Healthcare Private Limited, Aurum Research & Analytical Solutions Private Limited and 1 more | Director | 05 May 2025 | 1 Years 5 Months | Current |
Peer comparison
Bal Pharma Limited is compared with the 9 companies closest to it by revenue in the Pharma industry (API Manufacturers), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Mehta Api Private Limited | ₹325.77 Cr (FY 2025) | 36.0% | Mumbai, Maharashtra, India | |||
| Synergene Active Ingredients Private Limited | ₹319.93 Cr (FY 2024) | 37.0% | Hyderabad, Telangana, India | |||
| Mangalam Drugs and Organics Limited | ₹318.73 Cr (FY 2025) | -14.0% | Mumbai, Maharashtra, India | |||
| Bal Pharma Limitedthis company | ₹311.66 Cr (FY 2026) | ₹6.28 Cr | 2% | 2.8% | 715 | Bangalore, Karnataka, India |
| Saraca Laboratories Limited | ₹310.45 Cr (FY 2025) | 11.0% | Hyderabad, Telangana, India | |||
| Megafine Pharma Private Limited | ₹310.01 Cr (FY 2025) | -5.0% | Mumbai, Maharashtra, India | |||
| Optrix Laboratories Private Limited | ₹304.7 Cr (FY 2020) | 43.0% | Hyderabad, Telangana, India | |||
| Ajinomoto Bio-Pharma Services India Private Limited | ₹301.41 Cr (FY 2025) | 56.0% | Anakapalle, Andhra Pradesh, India | |||
| Alembic Limited | ₹296.78 Cr (FY 2025) | 40.0% | Vadodara, Gujarat, India | |||
| Anjan Drug Private Limited | ₹293.42 Cr (FY 2025) | -14.0% | Chengalpattu Dt, Tamil Nadu, India |
To see the full peer comparison of Bal Pharma Limited, buy the company report.
Auditor
Bal Pharma Limited is audited by S S J N B & CO for the financial year 2024.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| S S J N B & CO | FY 2024 | 013976S |
Shareholding
Shareholding for the quarter ended Sep 2026: promoters hold 50.90%, foreign institutional investors hold 0.20%, domestic institutional investors hold 0.00% and retail and other public shareholders hold 49.00%.
Sep 2026
QUARTER
50.90% Promoters
0.20% FII (Foreign Institutional)
49.00% Retail & Others
Promoter holding - history
Now 50.90% · Sep 2026High 50.90% · Dec 2025Low 50.90% · Dec 2025
Shareholding trend - last 6 quarters
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | |
|---|---|---|---|---|
| Promoters | 50.90% | 50.90% | 50.90% | 50.90% |
| Public | 49.10% | 49.10% | 49.10% | 49.10% |
Charges & borrowings
Open charges
₹234.22 Cr
Satisfied charges
₹198.12 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 20 Nov 2025 | 101186985 | Others | ₹4.4 Cr | Open | |
| 13 Nov 2025 | 101183756 | Hdfc Bank Limited | ₹5 Cr | Open | |
| 23 Oct 2025 | 101180259 | Hdfc Bank Limited | ₹24.9 Lakh | Open | |
| 28 Aug 2025 | 101169142 | Others | ₹22 Cr | Open | |
| 22 Aug 2025 | 101154802 | Others | ₹3 Cr | Open |
To see the full charge records of Bal Pharma Limited, buy the company report.
Total charge records: 41 View all charges
Deals & funding
Bal Pharma Limited has 90 deals on record (86 market trades, 4 funding rounds), with disclosed funding of ₹19.89 Cr; the latest was in July 2026.
Total deals
90
Market trades
86
Funding rounds
4
Disclosed funding
₹19.89 Cr
Deals on record (5 of 90)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jul 2026 | Market trade | ₹1.08 Cr | Buyer: Orion Stocks Limited Seller: Orion Stocks Limited |
| Jul 2026 | Market trade | ₹1.1 Cr | Buyer: Orion Stocks Limited Seller: Orion Stocks Limited |
| Apr 2025 | Market trade | ₹4.48 Cr | Buyer: NK Securities Research Private Limited , Parth Infin Brokers Private Limited , an individual Seller: NK Securities Research Private Limited , Parth Infin Brokers Private Limited , an individual |
| Aug 2024 | Market trade | ₹1.24 Cr | Buyer: NK Securities Research Private Limited Seller: NK Securities Research Private Limited |
| Aug 2024 | Market trade | ₹1.22 Cr | Buyer: NK Securities Research Private Limited Seller: NK Securities Research Private Limited |
To see the full deal history of Bal Pharma Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Bal Pharma Limited has 202 court cases on record: 114 filed by Bal Pharma, 89 filed against it. 25 cases are pending and 177 are disposed.
Total cases
202
Filed by the company
114
Filed against the company
89
Pending
25
Disposed
177
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 118 | 45 | 18 |
| High courts | 76 | 42 | 7 |
| Supreme Court | 8 | 2 | 0 |
Cases on record (5 of 202)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Karnataka | Appeal | Filed against the company by M/S Jolly Enterprises Pvt Ltd | Pending |
| High Court of Karnataka | Appeal | Filed by the company against M/S Ardex Endura (India) Pvt Ltd | Pending |
| High Court, KARNATAKA | Writ petition | Filed by the company against M/S Impel Chemicals Pvt Ltd | Pending |
| District court, BENGALURU, Karnataka | Court case (Com.O.S.) | Filed by the company against United India Insurance Company Limited and 1 other | Pending |
| Supreme Court | Court case (Special Leave Petition (Civil)) | Filed by the company against Rajasthan Medical Services Corporation Ltd | Disposed |
To see the full case history of Bal Pharma Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
Bal Pharma Limited was last rated by Icra on 21 Dec 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Icra | 21 Dec 2021 |
To see the full credit ratings and regulatory alerts of Bal Pharma Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Bal Pharma Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Bal Pharma has 4 subsidiary companies. This group structure data is as of FY 2024. The table lists each entity with its relationship and holding.
4
Subsidiary companies
Key subsidiaries
| Company Name | CIN | Shares held |
|---|---|---|
| Lifezen Healthcare Private Limited | U24230KA2014PTC077114 | |
| Golden Drugs Private Limited | U24232KA2012PTC157474 | |
| Aurum Research & Analytical Solutions Private Limited | U72100KA2023PTC177577 | |
| Bal Research Foundation | U73100KA2014NPL076995 |
To see the full group structure of Bal Pharma Limited, buy the company report.
Employees & EPFO
Bal Pharma Limited has a workforce of 715 employees on its EPFO records as of Mar 31, 2025, across 2 active EPFO establishments.
Employee count
715
Active EPFO establishments
2
Employee growth
-12.7%
GST
Bal Pharma has 22 GST registrations: 10 active and 12 cancelled or inactive. The first 4 active GSTINs are listed below.
Total GSTINs
22
Active
10
Cancelled / inactive
12
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AABCB0512E1ZB | Karnataka | Active | 01 Jul 2017 |
| 29AABCB0512E2ZA | Karnataka | Active | 29 Aug 2017 |
| 05AABCB0512E1ZL | Uttarakhand | Active | 01 Jul 2017 |
| 07AABCB0512E1ZH | Delhi | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Bal Pharma Limited, buy the company report.
Recent activity
Bal Pharma Limited has 38 board changes on record since 1994: 22 appointments and 16 cessations. The latest: Bheekamchand Mukesh was appointed as Additional Director on 13 Nov 2025.
Filing
Bal Pharma Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Bangalore.
Charges
A charge with Hdfc Bank Limited of Rs. 5.00 Cr registered on 13 Nov 2025 with Charge ID 101183756 was modified on 17 Jan 2026.
Charges
A charge with Canara Bank of Rs. 58.05 Cr registered on 10 May 2019 with Charge ID 100264149 was modified on 12 Dec 2025.
Charges
A charge with Others of Rs. 22.00 Cr registered on 28 Aug 2025 with Charge ID 101169142 was modified on 27 Nov 2025.
Charges
A charge with Others amounted to Rs. 4.40 Cr with Charge ID 101186985 was registered on 20 Nov 2025.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 5.00 Cr with Charge ID 101183756 was registered on 13 Nov 2025.
Appointed
Bheekamchand Mukesh was appointed as Additional Director.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 0.25 Cr with Charge ID 101180259 was registered on 23 Oct 2025.
Ceased
Harihara Subramanian Venkatesh ceased to be Director.
Charges
A charge registered on 08 Feb 2024 via Charge ID 100873015 with Others was fully satisfied on 26 Sep 2025.
Charges
A charge registered on 08 Jan 2024 via Charge ID 100857491 with Others was fully satisfied on 26 Sep 2025.
AGM
Bal Pharma Limited last Annual general meeting of members was held on 25 Sep 2025 as per latest MCA records.
107 earlier events are in the company report.
News
Frequently asked questions
Bal Pharma is an active public limited company based in Bangalore, Karnataka, India. The company works in api manufacturers, within the pharma industry. It was incorporated on 19 May 1987 (39+ years old) and is registered under CIN L85110KA1987PLC008368. Listed on BSE: 524824 and NSE: BALPHARMA.
Bal Pharma reported revenue of ₹311.66 Cr for FY 2025-26 (up 2.8% YoY) based on consolidated financials.
Bal Pharma has 6 current directors:
- Shailesh Siroya - Managing Director
- Virupakshaya Himesh - Whole-Time Director
- Jatish Sheth - Director
- Nicola Neeladri - Director
- Bheekamchand Mukesh - Additional Director
- Ravindrakumar Kothari - Director
The latest financial statements of Bal Pharma on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 25 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Bal Pharma is 29AABCB0512E1ZB, registered in Karnataka. The company has 22 GST registrations in all, of which 10 are active and 12 are cancelled or inactive. Other active GSTINs include 29AABCB0512E2ZA (Karnataka), 05AABCB0512E1ZL (Uttarakhand), 07AABCB0512E1ZH (Delhi).
The CIN (Corporate Identification Number) of Bal Pharma is L85110KA1987PLC008368. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Bal Pharma is a listed company as per MCA records. Its shares are listed on both BSE (code: 524824) and NSE (symbol: BALPHARMA).
Bal Pharma has 202 court cases on record: 114 filed by the company and 89 filed against it. 25 are pending. Most are in the district courts.
Bal Pharma was incorporated on 19 May 1987, making it 39+ years old. It is registered with the Registrar of Companies, Bangalore.
Bal Pharma has 90 deals on record (86 market trades, 4 funding rounds), with disclosed funding of ₹19.89 Cr; the latest was in July 2026.
The peers of Bal Pharma by revenue are Mehta Api Private Limited, Synergene Active Ingredients Private Limited, Mangalam Drugs and Organics Limited, Saraca Laboratories Limited, Megafine Pharma Private Limited and 4 more, all in the Pharma industry (API Manufacturers), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products).