Balrampur Chini Mills Ltd logo

Balrampur Chini Mills Ltd

BALRAMCHIN NSE

Balrampur Chini Mills Limited (BCML) is one of the largest integrated sugar companies in India. The allied businesses of the Company comprise distillery operations and cogeneration of power. BCML is one of the most efficient integrated sugar producers in the country. The Company has grown its capacity by well-planned capacity expansion projects and the acquisition of existing companies over recent years. [1]

AI Verdict: HOLD Confidence: 5%

Balrampur Chini has unanimous analyst buy ratings (7/7) and improving working capital efficiency, but a PE of 30.8x with declining profits (TTM profit growth of -4%) and low 3-year ROE of 11% make the risk-reward unfavorable at current levels. The stock has underperformed with -9% returns over the past year despite 16% TTM sales growth, suggesting margin compression.

Key Fundamentals

MicrocapSugarConsumer Goods
Market Cap
₹10,873 Cr
Volatility
Moderate
P/E Ratio
28.51
EBITDA
₹741 Cr
Return on Equity
15.72%
Debt to Equity
0.64
Book Value
₹217.17
EPS
₹26.33
52W High
₹627.8
52W Low
₹393.55

Technical Indicators

Key Insights

Strengths

1
  • Company's working capital requirements have reduced from 43.8 days to 21.8 days

Weaknesses

5
  • Stock is trading at 2.62 times its book value
  • The company has delivered a poor sales growth of 5.44% over past five years.
  • Company has a low return on equity of 11.3% over last 3 years.
  • Company might be capitalizing the interest cost
  • Dividend payout has been low at 14.6% of profits over last 3 years

Growth Rate

Revenue Growth
13.93% ↗
Net Income Growth
2.10% ↘
Cash Flow Change
139.08% ↗
ROE
-26.78% ↘
ROCE
-31.12% ↘
EBITDA Margin (Avg.)
-18.95% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 8d ago
HOLD
Risk high

Balrampur Chini has unanimous analyst buy ratings (7/7) and improving working capital efficiency, but a PE of 30.8x with declining profits (TTM profit growth of -4%) and low 3-year ROE of 11% make the risk-reward unfavorable at current levels. The stock has underperformed with -9% returns over the past year despite 16% TTM sales growth, suggesting margin compression.

Bull Case 8
  • 100% analyst consensus with all 7 analysts rating it a Buy, indicating strong institutional conviction
  • Working capital days reduced sharply from 43.8 days to 21.8 days, improving cash flow efficiency by over 50%
  • TTM sales growth of 16% shows strong revenue momentum and demand recovery
  • 10-year stock CAGR of 17% demonstrates long-term wealth creation track record
  • 10-year ROE average of 17% indicates historically strong capital efficiency
  • 3-year compounded sales growth of 10% outpaces the 5-year CAGR of 5%, showing acceleration
  • Market cap of Rs 11,196 Cr provides reasonable liquidity and index inclusion potential
  • 3-year stock CAGR of 12% still outperforms fixed-income alternatives despite recent weakness
Bear Case 8
  • PE of 30.8x is expensive for a commodity sugar company with cyclical earnings and low growth visibility
  • TTM profit growth is -4% despite 16% sales growth, indicating significant margin erosion
  • 5-year compounded profit growth is -4%, showing the company has destroyed earnings over a medium-term horizon
  • 3-year ROE of only 11% is below cost of equity and well below the 10-year average of 17%, signaling structural decline
  • Stock trading at 2.69x book value is rich for a business delivering sub-12% ROE — PB-ROE mismatch
  • Dividend payout of only 14.6% of profits over 3 years offers minimal shareholder returns at 0.63% yield
  • 5-year sales CAGR of just 5.44% reflects poor topline growth in a capital-intensive business
  • Stock has delivered -9% returns over the past 1 year, underperforming broader markets significantly

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 3d ago
Headwinds 2
  • Sugar export ban from May 13 Jun 20

    Government imposed a ban on sugar exports effective May 13, 2026, limiting revenue upside from international markets.

  • ₹903 cr long-term debt for PLA Jun 20

    The 80,000 TPA Poly Lactic Acid bioplastics plant will be funded by ₹903 crore in long-term debt, increasing leverage on the balance sheet.

Positives 3
  • ₹450 cr preferential issue approved Jun 18

    Shareholders approved raising ₹450 crore via preferential allotment of 93.16 lakh shares at ₹483 per share to promoters and investors, strengthening equity base.

  • Bioplastics diversification launched Jun 5

    BCML launched Bioyug Green Command 2026 with Lucknow Cantonment Board and Defence Minister support, advancing its 80,000 TPA PLA plant initiative for sustainable materials.

  • Increased FRP for sugarcane Jun 20

    Policy update includes an increased Fair and Remunerative Price for sugarcane, supporting farmer relations and raw material supply stability.

Neutral 3
  • FY26 revenue at ₹6,271 crore Jun 20

    Balrampur Chini reported FY26 revenue of ₹6,271 crore, EBITDA of ₹741 crore, and profit before tax of ₹523.69 crore.

  • Analyst meet on Jun 24-25 Jun 20

    Company will host analyst and investor meet on June 24-25, 2026, organized by 360 One Capital Market with no UPSI to be shared.

  • ₹150 cr commercial paper repaid Jun 8

    Balrampur Chini repaid ₹150 crore in commercial paper redemption on June 8, 2026, for ISIN INE119A14880.

TL;DR: Balrampur Chini is actively diversifying beyond sugar into bioplastics with an 80,000 TPA PLA plant, backed by ₹450 crore in fresh equity and Defence Ministry visibility. FY26 financials are stable with ₹6,271 crore revenue and ₹523.69 crore PBT. Key risks include the sugar export ban capping international revenue and ₹903 crore in new debt for the PLA project. The strategic pivot toward sustainable materials is promising but execution and leverage remain watch items over the next 12-18 months.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
1,492
1,390
1,539
1,230
1,434
1,422
1,298
1,192
1,504
1,542
1,671
1,454
1,604
Expenses
1,088
1,226
1,375
1,117
1,090
1,255
1,249
1,068
1,138
1,408
1,550
1,252
1,319
Operating Profit
404
163
165
113
345
166
49
124
365
134
120
202
285
OPM %
27%
12%
11%
9%
24%
12%
4%
10%
24%
9%
7%
14%
18%
Other Income
22
18
116
60
12
15
73
16
20
16
18
17
22
Interest
21
34
17
8
25
36
20
7
30
34
14
4
26
Depreciation
40
41
41
42
43
43
43
44
43
44
44
44
45
PBT
364
107
223
123
289
102
59
89
312
73
80
171
236
Tax %
30%
31%
25%
26%
30%
31%
-14%
21%
26%
29%
33%
34%
32%
Net Profit
254
74
166
91
203
70
67
70
229
52
54
113
160
EPS in Rs
12.61
3.64
8.24
4.53
10.08
3.48
3.33
3.49
11.35
2.55
2.67
5.62
7.9
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
2,987
2,757
3,460
4,343
4,286
4,741
4,812
4,846
4,666
5,594
5,415
6,271
Expenses
2,859
2,342
2,557
3,888
3,595
4,059
4,098
4,139
4,144
4,808
4,705
5,530
Operating Profit
128
414
903
454
691
682
714
707
522
786
711
741
OPM %
4%
15%
26%
10%
16%
14%
15%
15%
11%
14%
13%
12%
Other Income
13
-130
-8
38
47
52
47
36
65
206
118
73
Interest
102
67
55
52
41
64
39
31
49
84
93
77
Depreciation
116
110
105
95
96
101
112
114
130
166
173
177
PBT
-76
108
735
345
602
568
609
599
408
742
562
560
Tax %
-24%
7%
19%
33%
4%
9%
21%
22%
30%
28%
22%
32%
Net Profit
-58
100
593
232
576
519
480
465
284
534
437
378
EPS in Rs
-2.37
4.09
25.23
10.14
25.21
23.61
22.85
22.77
14.09
26.49
21.64
18.74
Div. Payout %
0%
0%
14%
25%
10%
11%
11%
11%
18%
11%
14%
19%
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
24
24
24
23
23
22
21
20
20
20
20
20
Reserves
1,103
1,205
1,537
1,594
2,095
2,394
2,598
2,749
2,875
3,381
3,775
4,118
Borrowings
1,678
1,667
1,782
990
1,734
1,482
1,240
1,211
1,880
2,009
2,627
3,170
Other Liabilities
1,099
805
685
1,093
851
910
774
512
653
678
707
1,098
Total Liabilities
3,904
3,701
4,027
3,700
4,703
4,808
4,634
4,492
5,429
6,088
7,129
8,406
Fixed Assets
1,377
1,340
1,412
1,446
1,422
1,624
1,599
1,634
2,599
2,639
2,645
2,604
CWIP
8
86
6
11
46
12
14
204
24
46
106
1,747
Investments
41
48
74
122
166
244
249
173
263
339
431
468
Other Assets
2,479
2,226
2,535
2,121
3,070
2,927
2,772
2,482
2,543
3,064
3,947
3,587
Total Assets
3,904
3,701
4,027
3,700
4,703
4,808
4,634
4,492
5,429
6,088
7,129
8,406
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
-76
147
346
1,180
-523
850
649
695
453
178
425
599
Investing
-23
-147
-117
-159
-159
-305
-81
-309
-859
-225
-880
-947
Financing
38
-70
-233
-1,020
682
-546
-569
-385
406
47
455
347
Net Cash Flow
-62
-70
-4
0
0
-1
-1
0
0
0
0
0
Free Cash Flow
-101
-6
223
1,048
-649
608
551
298
-391
-43
-455
-346
CFO/OP
-50
40
54
286
-57
139
98
115
100
35
70
97
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
19
26
17
15
38
18
19
10
10
8
10
10
Inventory Days
243
344
391
189
277
239
251
232
248
268
295
248
Days Payable
107
77
49
82
72
70
63
29
34
26
26
40
Cash Conversion Cycle
155
294
359
123
243
188
207
213
224
250
279
219
Working Capital Days
4
50
35
16
68
70
80
67
42
60
50
22
ROCE %
1%
12%
26%
13%
20%
16%
17%
16%
10%
13%
10%
9%

Shareholding Pattern

As of Jun 2026
Promoters 42.86%
DIIs 28.79%
Public 14.81%
FIIs 9.44%
Others 4.10%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Oct 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
41.21%
41.21%
41.40%
42.42%
42.42%
42.42%
42.42%
42.42%
42.43%
42.90%
42.90%
42.90%
42.90%
42.90%
42.90%
42.90%
42.87%
42.87%
42.87%
42.86%
42.85%
42.85%
42.86%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
11.27%
12.19%
12.86%
12.11%
12.01%
11.99%
11.21%
10.55%
10.43%
9.44%
DIIs
12.61%
13.87%
13.39%
13.51%
14.05%
16.40%
15.33%
16.93%
19.76%
20.92%
21.33%
20.72%
21.55%
20.76%
22.58%
26.44%
26.53%
27.12%
28.02%
27.60%
27.50%
27.67%
28.79%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
17.58%
17.07%
16.49%
17.62%
17.01%
17.16%
17.34%
18.96%
17.68%
17.00%
16.83%
16.57%
20.84%
21.06%
18.22%
14.11%
15.05%
14.47%
13.78%
14.71%
15.30%
14.98%
14.81%
Others
28.60%
27.84%
28.72%
26.45%
26.53%
24.02%
24.92%
21.69%
20.13%
19.18%
18.95%
19.81%
14.71%
4.01%
4.12%
3.69%
3.45%
3.53%
3.35%
3.62%
3.80%
4.06%
4.10%
No. of Shareholders
87,449
1,18,985
1,28,351
1,39,720
1,37,340
1,73,901
1,92,746
2,12,322
1,97,917
1,87,241
1,82,725
1,83,340
2,24,016
2,39,972
2,13,934
1,93,214
2,09,649
1,99,662
1,88,796
1,93,075
1,93,296
1,86,610
1,85,823

Documents

Frequently Asked Questions about Balrampur Chini Mills Ltd

What does Balrampur Chini Mills Ltd do?
Balrampur Chini Mills Limited (BCML) is one of the largest integrated sugar companies in India. The allied businesses of the Company comprise distillery operations and cogeneration of power. BCML is one of the most efficient integrated sugar producers in the country. The Company has grown its cap...
Where is Balrampur Chini Mills Ltd (BALRAMCHIN) listed?
Balrampur Chini Mills Ltd is listed on the Indian stock exchanges. It is listed on NSE: BALRAMCHIN and BSE: 500038. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Balrampur Chini Mills Ltd belong to?
Balrampur Chini Mills Ltd operates in the Fast Moving Consumer Goods sector within the Agricultural Food & other Products industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Balrampur Chini Mills Ltd?
Balrampur Chini Mills Ltd has a market capitalisation of approximately ₹10873.01 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Balrampur Chini Mills Ltd?
The Price-to-Earnings (PE) ratio of Balrampur Chini Mills Ltd is 28.51. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Balrampur Chini Mills Ltd?
Over the past 52 weeks, Balrampur Chini Mills Ltd has traded between a low of ₹393.55 and a high of ₹627.8. This range helps investors understand the stock's price volatility and recent trading levels.
Does Balrampur Chini Mills Ltd pay dividends?
Yes, Balrampur Chini Mills Ltd has a dividend yield of 0.65%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Balrampur Chini Mills Ltd?
Balrampur Chini Mills Ltd has a Return on Equity (ROE) of 15.72%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Balrampur Chini Mills Ltd on Tapetide?
On Tapetide, you can view Balrampur Chini Mills Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Balrampur Chini Mills Limited (BCML) is one of the largest integrated sugar companies in India. The allied businesses of the Company comprise distillery operations and cogeneration of power. BCML is one of the most efficient integrated sugar producers in the country. The Company has grown its capacity by well-planned capacity expansion projects and the acquisition of existing companies over recent years. [1]

Website chini.com
CEO Mr. Vivek K. Saraogi
Employees 6,020
Listed 1995-02-08
Face Value ₹ 1
Issued Size 20,19,50,436

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