Balaji Amines Limited (BALAMINES.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-82.5%

₹308.30

vs ₹1,757.30 price

Levered DCF

₹106.96

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

8.7

Safe zone

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	18.94×	25.79×	33.19×	19.34×	25.55×	23.93×	7.78×	13.68×
P/B	1.6×	2.2×	3.95×	4.05×	7.53×	6.37×	1.24×	2.79×
P/S	2.22×	2.91×	4.23×	2.69×	4.06×	4.35×	0.87×	1.7×
EV / EBITDA	11.02×	14.79×	19.08×	10.11×	14.88×	15.32×	5.76×	9.28×
Gross margin	34.3%	34.9%	21.7%	35.9%	36.9%	41.1%	33.4%	34.4%
Operating margin	14.7%	13.1%	16.3%	23.9%	24.6%	25.6%	16.0%	18.6%
Net margin	11.7%	11.3%	12.7%	13.9%	15.9%	18.2%	11.2%	12.4%
Current ratio	2.34×	7.26×	6.7×	6.92×	3.02×	2.38×	2.13×	1.46×
Debt / equity	0.07×	0.01×	0.01×	0.04×	0.08×	0.14×	0.39×	0.4×
Interest coverage	38.93×	49.68×	40.7×	46.72×	33.39×	18.38×	6.51×	13.5×
Dividend yield	1.1%	0.9%	0.5%	0.3%	0.1%	0.0%	2.6%	0.6%
Payout ratio	21.3%	22.6%	15.8%	6.0%	3.5%	0.8%	20.1%	8.7%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	8.5%	8.5%	11.9%	20.9%	29.5%	26.6%	15.9%	20.4%
Return on invested capital	6.3%	6.4%	10.1%	21.7%	27.8%	22.7%	11.4%	14.2%
Return on assets	6.1%	7.0%	9.5%	16.6%	19.7%	18.2%	9.4%	11.2%
Free cash flow yield	-5.5%	2.2%	1.0%	4.2%	0.9%	-0.4%	7.8%	-4.7%
Earnings yield	5.3%	3.9%	3.0%	5.2%	3.9%	4.2%	12.9%	7.3%
Enterprise value	₹32.2B	₹39.2B	₹67.4B	₹62.1B	₹94.8B	₹58.1B	₹10.7B	₹18.1B
Net debt / EBITDA	0.2×	-0.52×	-0.17×	-0.15×	0.11×	0.29×	1.37×	1.09×
Cash conversion cycle (days)	152	154	138	121	103	101	113	113