Balmer Lawrie Investments Ltd.

•

blinv.comBSE: 532485NSE: BLIL

Market Cap₹ 1,602 Cr.

Current Price

High / Low₹ 80 / 67

Stock P/E11.3

Book Value₹ 9

Price to Book7.79

Dividend Yield0.00 %

ROCE53.7 %

ROE52.3 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2025 • Industrial Packaging: 30.9% • Greases and Lubricants: 23.7% • Logistic Services: 20.3%

AI Sector View

AI GENERATED

Financial Services

Buy

Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.

Confidence

84%

View full sector analysis →

PROS

Solid return on assets for a lender - ROA of 51.1%
Company has a healthy return on capital (ROCE) of 50.2%
Company has a good return on equity (ROE) track record: 3 Years ROE 48.9%
Asset quality is healthy - gross NPA of just 0.0%
Company has a consistent dividend-paying track record
Offers a healthy dividend yield of 6.4%

CONS

Capital adequacy is tight at 0.0% - limited headroom to grow
Effective tax rate is unusually low at 2.6% - earnings may be flattered
Company has delivered a poor profit growth of 3.0% over past five years
Company has delivered a poor sales growth of 3.1% over past five years
Stock is trading at 7.8x its book value
Thin net interest margin of 0.0%

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

Peer comparison

Financial ServicesFinanceFinance - NBFC

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

S.No.	Name
1.	BAJFINANCE	1053.10	32.29	655655.25	0.57	6080.60	27.60	23165.45	20.37	10.87	70.70
2.	SHRIRAMFIN	1059.70	22.03	249345.67	1.02	3452.77	59.90	13400.43	17.46	11.49	74.63
3.	TATACAP	368.15	28.92	156274.85	0.15	16281.80	1464.16	88219.30	1051.00	8.66	75.72
4.	JIOFIN	235.95	75.39	155801.13	0.25	830.25	155.73	2004.47	227.28	2.11	69.71
5.	CHOLAFIN	1813.45	26.93	154880.60	0.11	1656.22	45.56	8856.29	21.89	9.70	70.07
6.	BAJAJHLDNG	11342.45	14.25	126234.11	1.72	2708.08	-92.27	394.33	23.34	14.81	684.72
7.	MUTHOOTFIN	2905.00	10.25	116626.59	1.03	2824.84	43.08	8671.60	36.25	15.87	83.76
8.	ABCAPITAL	394.80	26.33	108076.98	0.00	1223.85	43.85	12179.54	137.84	8.82	41.91
9.	LTF	309.45	24.37	77559.08	0.89	915.99	30.70	5212.92	22.38	8.54	62.13
10.	SBICARD	631.85	26.43	60129.57	0.40	664.44	19.51	5040.55	7.60	11.75	29.83
11.	HDBFS	675.65	25.80	56130.63	0.59	785.20	38.31	4937.90	18.71	9.09	57.98
12.	BLIL	72.18	8.94	1602.20	0.00	72.59	4.57	751.14	25276.39	27.40	15.51

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	2	81	3	3	3	93	3	3	3	93	2	47	3
	0	0	0	0	0	0	0	1	0	0	0	0	0
Operating Profit	2	81	2	2	2	92	3	2	3	93	2	47	2
OPM %	88.69%	99.66%	87.94%	90.04%	89.35%	99.63%	88.15%	79.53%	89.19%	99.60%	85.94%	99.30%	87.42%
Other Income	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0
	2	81	2	2	2	92	3	3	3	93	2	47	2
Tax %	25.51%	0.53%	25.51%	25.82%	25.53%	0.68%	25.69%	28.29%	25.38%	0.75%	25.70%	1.16%	25.72%
Net Profit	1	81	2	2	2	92	2	2	2	92	2	47	2
	1	36	1	0	0	4	0	0	0	4	0	2	0
Equity Capital	22	22	22	22	22	22	22	22	22	22	22	22	22
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	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%

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	0	0	0	79	87	87	69	76	89	101	145
	1	1	1	1	1	1	2	1	1	2	1
Operating Profit	38	41	55	78	86	86	68	75	88	100	—
OPM %	—	—	—	99	99	99	98	99	99	99	—
Other Income	38	42	56	0	0	0	0	0	0	0	0
Interest	0	0	0	0	0	0	0	0	0	0	0
Depreciation	0	0	0	0	0	0	0	0	0	0	0
	38	41	55	78	86	86	68	75	88	100	144
Tax %	5	5	3	3	3	2	2	2	2	3	2
Net Profit	36	39	54	76	84	85	67	73	86	97	142
EPS	0	0	0	0	0	38	30	33	39	4	—
Dividend Payout %	78	97	99	99	100	100	100	100	99	98	—
Minority Interest	0	0	0	0	0	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0	0	0	0	0
Adjusted EPS	2	2	2	3	4	4	3	3	4	4	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 3%
3 Years:: 13%

COMPOUNDED PROFIT GROWTH

10 Years:: 11%
5 Years:: 3%
3 Years:: 13%

STOCK PRICE CAGR

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

RETURN ON EQUITY

10 Years:: 45%
5 Years:: 47%
3 Years:: 49%
Last Year:: 52%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
LIABILITIES	-	-	-	-	-	-	-	-	-	-
Equity Capital	22	22	22	22	22	22	22	22	22	22
	69	107	123	146	154	155	138	145	157	170
	30	2	2	20	22	9	10	4	5	5
Total Liabilities	120	132	148	188	198	187	170	171	184	197
ASSETS	-	-	-	-	-	-	-	-	-	-
	33	33	33	33	33	33	33	33	33	33
Cash & Bank	85	96	112	139	146	142	124	136	148	161
	3	3	4	17	19	12	13	2	3	3
Total Assets	120	132	148	188	198	187	170	171	184	197
Total Debt	0	0	0	0	0	0	0	0	0	0
Net Working Capital	58	97	113	136	144	145	127	134	146	159
Contingent Liabilities	0	0	0	0	0	1	1	1	2	2
Book Value per Share	40.93	58.41	65.58	75.78	79.43	80.05	72.06	75.14	80.71	8.64
Face Value	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	1.00

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	36	39	53	53	76	83	84	67	85	98
Cash from Investing	0	0	0	0	0	0	0	0	-11	-13
Cash from Financing	-27	-28	-37	-53	-75	-83	-84	-67	-73	-84
	8	11	16	0	0	-0	0	0	1	-0
Free Cash Flow	36	39	53	53	76	83	84	67	85	98
OCF / Net Profit	1.01	0.99	1.00	0.70	0.90	0.98	1.27	0.91	1.00	1.00
Cumulative 5-Year FCF	0	0	0	0	257	304	350	363	395	417

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	16.05	17.48	24.16	34.20	37.65	38.12	30.01	33.08	38.57	4.37
Book Value (₹)	40.93	58.41	65.58	75.78	79.43	80.05	72.06	75.14	80.71	8.64
Dividend per Share (₹)	12.50	17.00	24.00	34.00	37.50	38.00	30.00	33.00	38.00	4.30
Cash EPS (₹)	1.60	1.75	2.42	3.42	3.77	3.81	3.00	3.31	3.86	4.37
PROFITABILITY
Operating Margin %	0.00%	0.00%	0.00%	98.97%	98.75%	99.11%	97.84%	98.79%	98.75%	98.44%
Net Margin %	0.00%	0.00%	0.00%	96.08%	96.19%	97.38%	96.13%	96.50%	96.52%	96.03%
ROE %	40.98%	35.19%	38.98%	48.39%	48.52%	47.81%	39.46%	44.94%	49.50%	52.34%
ROCE %	43.31%	37.07%	40.30%	49.84%	49.81%	48.66%	40.16%	46.01%	50.77%	53.73%
	30.61%	30.78%	38.37%	45.21%	43.33%	43.96%	37.32%	43.11%	48.31%	51.06%
EFFICIENCY
Debtor Days	0	0	0	0	0	0	0	0	0	0
Inventory Days	0	0	0	0	0	0	0	0	0	0
Payable Days	0	0	0	0	0	0	0	0	0	0
	0	0	0	0	0	0	0	0	0	0
FINANCIAL HEALTH
Debt to Equity (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x
Interest Coverage (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x
	2.97x	48.62x	48.98x	7.88x	7.65x	16.36x	13.79x	35.02x	32.94x	34.83x
GROWTH
Revenue Growth %	0.00%	0.00%	0.00%	0.00%	9.98%	0.02%	-20.25%	9.78%	16.60%	13.98%
Operating Profit Growth %	-0.13%	8.59%	35.67%	40.98%	9.74%	0.38%	-21.27%	10.85%	16.83%	13.52%
Net Profit Growth %	-0.20%	8.91%	38.25%	41.52%	10.10%	1.25%	-21.28%	10.21%	16.61%	13.40%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	16.61%	-88.66%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	1.58x	15.40x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	7.57x	7.79x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	6.22%	6.38%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	13.76x	13.38x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	59.67	59.67	59.67	59.67	59.67	59.67	59.67	59.67	59.67
	1.33	1.31	1.14	1.12	1.10	1.10	1.06	1.06	0.95
	0.14	0.02	0.02	0.07	0.03	0.03	0.03	0.03	0.03
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	38.85	38.99	39.16	39.13	39.20	39.19	39.24	39.24	39.34

Documents

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