Balurghat Technologies Ltd.

•

balurghat.co.inBSE: -NSE: BALURTRANS

Market Cap₹ 23 Cr.

Current Price

High / Low—

Stock P/E14.8

Book Value₹ 10

Price to Book0.92

Dividend Yield0.00 %

ROCE7.4 %

ROE3.2 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2022 • Transportation Operations: 100.0%

AI Sector View

AI GENERATED

Services

Buy

Broad services remain in expansion. Services PMI was 54.1 (Aug/26), export of services grew 13.0% YoY (2026-06), and urban employment was still positive at 2.0% YoY (2026-07), although airport passenger traffic was -2.0% YoY (2026-06). FPI inflows of INR 7081 crore over 3 months to 2026-08-31 support the constructive sector view.

Confidence

72%

View full sector analysis →

PROS

Working capital cycle has improved - days down from 58 to 40
Stock looks reasonably valued - P/E of 14.8 is below its historical median
Company converts assets efficiently - asset turnover of 2.6x

CONS

Company has a high debt-to-equity of 1.55x
Operating cash flow has been negative in recent years
A large part of profit comes from other income (51.6% of PBT)
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -2.48x)
Interest coverage is weak at 1.3x - earnings barely cover interest
Company has a low return on capital employed of 11.8%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ServicesLogisticsLogistics

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	CONCOR	505.80	31.02	38522.64	1.70	268.90	0.61	2159.76	0.28	13.63	20.41
2.	DELHIVERY	451.00	361.29	33793.18	0.00	31.91	-64.96	2930.73	27.76	2.97	4.75
3.	SHADOWFAX	255.05	133.96	14964.56	0.00	654.00	6732.86	13581.20	1806.32	11.58	6.76
4.	BLACKBUCK	585.40	63.17	10664.07	0.00	42.17	25.14	204.17	42.17	12.75	24.35
5.	TCI	856.45	14.41	6580.20	1.17	106.60	-0.56	1248.50	9.58	20.52	12.30
6.	TVSSCS	128.95	87.86	5689.58	0.00	22.48	-96.84	3335.22	28.66	11.51	6.75
7.	VRLLOG	231.45	18.87	4048.92	0.00	805.30	1509.31	8788.40	1080.70	26.47	21.23
8.	MAHLOG	399.70	103.12	3968.12	0.63	27.83	394.81	2002.88	23.29	10.40	5.76
9.	SINDHUTRAD	23.81	47.44	3671.33	0.00	38.74	-79.39	129.21	-21.85	12.80	45.34
10.	GATEWAY	53.58	10.96	2677.09	6.07	512.68	724.44	5492.97	897.94	17.99	21.31
11.	TCIEXP	535.25	24.95	2057.72	1.31	20.49	5.24	313.40	9.29	13.92	10.03
12.	BALURTRANS	12.48	14.85	22.71	0.00	0.31	146.57	30.07	7.71	7.40	3.33

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	20	19	20	20	17	21	23	26	28	33	28	32	30
	19	19	19	19	16	20	22	25	28	32	30	26	30
Operating Profit	1	1	1	1	1	1	1	1	-0	0	-3	5	0
OPM %	5.99%	4.08%	4.39%	5.39%	4.85%	5.47%	3.73%	4.70%	-0.75%	0.95%	-9.40%	17.04%	1.08%
	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest	0	0	0	0	0	0	0	0	0	1	1	1	1
Depreciation	0	0	0	-0	0	0	0	0	0	0	0	0	0
Profit before Tax	1	0	1	1	1	1	1	1	-1	-0	-3	5	0
Tax %	25.84%	30.61%	28.33%	30.85%	26.79%	28.72%	28.81%	31.82%	-0.00%	-0.00%	-0.00%	4.36%	26.00%
Net Profit	1	0	0	1	0	1	0	1	-1	-0	-3	5	0
	0.38	0.19	0.25	0.64	0.24	0.38	0.25	0.37	-0.38	-0.16	-1.78	2.69	0.18

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	38	48	54	98	92	62	64	79	87	120	122
	37	46	53	95	91	60	61	75	83	117	119
Operating Profit	1	2	2	4	1	1	3	4	4	3	3
OPM %	2.85%	3.26%	3.61%	3.59%	1.37%	2.28%	4.81%	4.97%	4.68%	2.47%	2.83%
	0	0	0	1	0	2	0	0	0	0	0
Interest	0	0	1	1	2	2	1	1	1	2	2
Depreciation	0	0	0	0	0	0	0	0	0	0	0
Profit before Tax	1	1	1	3	-1	1	2	3	3	1	2
Tax %	28.52%	22.90%	28.81%	22.89%	-5.25%	27.84%	30.90%	28.86%	29.12%	27.80%	17.36%
Net Profit	1	1	1	2	-1	1	1	2	2	1	2
EPS	0.00	0.00	0.00	1.10	-0.45	0.61	0.84	1.19	1.21	0.32	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: 12%
5 Years:: 5%
3 Years:: 23%

COMPOUNDED PROFIT GROWTH

10 Years:: 0%
5 Years:: —
3 Years:: -23%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: —

RETURN ON EQUITY

10 Years:: 8%
5 Years:: 9%
3 Years:: 10%
Last Year:: 3%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	17	17	17	17	17	17	17	17	17	17
	-9	-9	-8	-6	1	1	1	-2	-0	1
	3	4	7	9	17	14	11	10	20	27
Trade Payables	1	1	2	2	1	1	1	2	2	1
	1	2	2	2	2	3	3	2	3	3
Total Liabilities	13	16	20	25	39	35	34	30	42	49
	4	4	4	4	4	3	4	4	3	6
	0	0	0	0	0	0	1	1	2	2
	0	0	0	0	0	0	0	18	28	31
Cash & Bank	3	3	2	-3	4	5	6	5	5	6
	6	8	13	24	31	27	24	2	4	5
Total Assets	13	16	20	25	39	35	34	30	42	49

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1	-1	-3	-8	-0	3	5	1	-8	-4
Cash from Investing	-1	-0	-0	1	0	2	-1	-1	-1	-1
Cash from Financing	1	2	2	3	7	-3	-2	-1	10	6
	0	0	-1	-5	7	1	0	-1	0	1

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	33.63	33.63	33.51	33.51	33.45	33.45	33.42	33.26
FIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	66.37	66.37	66.49	66.49	66.55	66.55	66.58	66.74

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

No announcements filed.

News

Recent coverage and analyst commentary for BALURTRANS

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AI Stock Analyst

Balurghat Technologies Ltd.

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Name

CONCOR

505.80

31.02

38522.64

1.70

268.90

0.61

2159.76

0.28

13.63

20.41

DELHIVERY

451.00

361.29

33793.18

0.00

31.91

-64.96

2930.73

27.76

2.97

4.75

SHADOWFAX

255.05

133.96

14964.56

0.00

654.00

6732.86

13581.20

1806.32

11.58

6.76

BLACKBUCK

585.40

63.17

10664.07

0.00

42.17

25.14

204.17

42.17

12.75

24.35

TCI

856.45

14.41

6580.20

1.17

106.60

-0.56

1248.50

9.58

20.52

12.30

TVSSCS

128.95

87.86

5689.58

0.00

22.48

-96.84

3335.22

28.66

11.51

6.75

VRLLOG

231.45

18.87

4048.92

0.00

805.30

1509.31

8788.40

1080.70

26.47

21.23

MAHLOG

399.70

103.12

3968.12

0.63

27.83

394.81

2002.88

23.29

10.40

5.76

SINDHUTRAD

23.81

47.44

3671.33

0.00

38.74

-79.39

129.21

-21.85

12.80

45.34

GATEWAY

53.58

10.96

2677.09

6.07

512.68

724.44

5492.97

897.94

17.99

21.31

TCIEXP

535.25

24.95

2057.72

1.31

20.49

5.24

313.40

9.29

13.92

10.03

BALURTRANS

12.48

14.85

22.71

0.00

0.31

146.57

30.07

7.71

7.40

3.33

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

Operating Profit

-0

-3

OPM %

5.99%

4.08%

4.39%

5.39%

4.85%

5.47%

3.73%

4.70%

-0.75%

0.95%

-9.40%

17.04%

1.08%

Interest

Depreciation

-0

Profit before Tax

-1

-0

-3

Tax %

25.84%

30.61%

28.33%

30.85%

26.79%

28.72%

28.81%

31.82%

-0.00%

4.36%

26.00%

Net Profit

-1

-0

-3

0.38

0.19

0.25

0.64

0.24

0.38

0.25

0.37

-0.38

-0.16

-1.78

2.69

0.18

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

120

122

117

119

Operating Profit

OPM %

2.85%

3.26%

3.61%

3.59%

1.37%

2.28%

4.81%

4.97%

4.68%

2.47%

2.83%

Interest

Depreciation

Profit before Tax

-1

Tax %

28.52%

22.90%

28.81%

22.89%

-5.25%

27.84%

30.90%

28.86%

29.12%

27.80%

17.36%

Net Profit

-1

EPS

0.00

1.10

-0.45

0.61

0.84

1.19

1.21

0.32

—

Dividend Payout %

0.00%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

-9

-8

-6

-2

-0

Trade Payables

Total Liabilities

Cash & Bank

-3

Total Assets

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-1

-3

-8

-0

-8

-4

Cash from Investing

-1

-0

-1

Cash from Financing

-3

-2

-1

-5

-1

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

33.63

33.51

33.45

33.42

33.26

FIIs

0.00

DIIs

0.00

Government

0.00

66.37

66.49

66.55

66.58

66.74

Balurghat Technologies Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Balurghat Technologies Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI