Balmer Lawrie & Co. Ltd. (BALMLAWRIE.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

+109.4%

₹342.03

vs ₹163.31 price

Levered DCF

₹660.29

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

B+

Overall 3 / 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	9.21×	12.17×	17.79×	11.03×	14×	18.29×	8.43×	12.98×
P/B	1.23×	1.64×	2.34×	1.13×	1.21×	1.43×	0.87×	1.4×
P/S	0.94×	1.29×	1.94×	0.82×	0.94×	1.44×	0.93×	1.24×
EV / EBITDA	7.79×	10.37×	12.16×	8.19×	9.71×	12.08×	6.1×	7.56×
Gross margin	22.1%	34.2%	28.1%	30.1%	12.4%	13.4%	35.2%	33.6%
Operating margin	10.1%	24.0%	13.1%	6.3%	6.4%	7.0%	9.4%	12.6%
Net margin	10.2%	10.6%	11.9%	7.4%	6.7%	7.9%	11.0%	9.5%
Current ratio	2.13×	2.27×	2.08×	2.08×	2.31×	2.25×	2.33×	2.28×
Debt / equity	0.11×	0.05×	0.06×	0.07×	0.08×	0.08×	0.08×	0.05×
Interest coverage	8.21×	22.75×	12.98×	8.12×	9.71×	8.94×	9.26×	30.29×
Dividend yield	8.3%	4.5%	3.0%	5.9%	5.3%	5.8%	11.1%	6.5%
Payout ratio	76.2%	54.5%	49.0%	64.6%	74.4%	106.2%	93.2%	83.8%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	13.4%	13.5%	14.4%	10.2%	8.7%	7.8%	10.4%	10.7%
Return on invested capital	8.1%	19.6%	9.5%	4.7%	5.0%	4.2%	5.1%	8.0%
Return on assets	8.3%	8.7%	9.1%	6.5%	5.6%	5.1%	6.9%	7.2%
Free cash flow yield	9.1%	2.7%	5.2%	8.2%	-1.1%	9.1%	10.3%	-0.3%
Earnings yield	10.9%	8.2%	6.1%	9.1%	7.1%	5.5%	11.9%	7.7%
Enterprise value	₹27.3B	₹33B	₹43.2B	₹19.6B	₹20B	₹22.9B	₹14.6B	₹21.5B
Net debt / EBITDA	0.53×	0.2×	0.18×	0.26×	0.36×	0.47×	0.41×	0.09×
Cash conversion cycle (days)	105	47	82	75	75	59	89	64