Balmer Lawrie Investments Limited (BLIL.BO) 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

+296.3%

₹254.84

vs ₹64.30 price

Levered DCF

₹264.51

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

2.19

Grey zone

Rating

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	8.13×	9.01×	90.03×	70.93×	92.81×	130.31×	61.31×	67.69×
P/B	1.01×	11.29×	11.39×	6.91×	7.35×	9.46×	5.87×	8.1×
P/S	0.52×	6.03×	5.84×	3.35×	3.93×	6.62×	4.11×	4.76×
EV / EBITDA	3.67×	41.86×	35.6×	33.04×	39.08×	45.85×	23.19×	26.76×
Gross margin	29.3%	35.7%	27.3%	29.9%	29.9%	36.0%	31.9%	35.6%
Operating margin	11.6%	25.6%	14.0%	7.8%	7.4%	7.8%	12.8%	15.4%
Net margin	6.4%	6.7%	6.5%	4.7%	4.2%	5.1%	6.7%	7.0%
Current ratio	52.47×	2.49×	2.29×	2.29×	2.54×	2.52×	2.62×	2.52×
Debt / equity	0.15×	0.08×	0.09×	0.11×	0.11×	0.11×	0.11×	0.08×
Interest coverage	0×	24.88×	0×	0×	12.71×	10.19×	13.56×	39.44×
Dividend yield	14.9%	0.9%	0.9%	1.4%	1.5%	1.3%	2.3%	1.4%
Payout ratio	121.4%	81.2%	79.1%	98.2%	139.7%	165.3%	140.2%	93.1%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	12.4%	12.5%	12.7%	9.7%	7.9%	7.3%	9.6%	12.0%
Return on invested capital	6.9%	20.0%	10.8%	6.3%	5.6%	4.5%	7.4%	10.3%
Return on assets	5.1%	5.4%	5.1%	4.0%	3.4%	3.2%	4.3%	5.3%
Free cash flow yield	16.3%	0.6%	1.6%	2.0%	0.0%	1.4%	2.1%	-0.3%
Earnings yield	12.3%	1.1%	1.1%	1.4%	1.1%	0.8%	1.6%	1.5%
Enterprise value	₹16.2B	₹155.9B	₹139.7B	₹79.3B	₹82.7B	₹104.7B	₹65.8B	₹87.2B
Net debt / EBITDA	0.38×	0.17×	0.16×	0.25×	0.35×	0.39×	0.35×	0.08×
Cash conversion cycle (days)	38	45	12	-21	19	-38	84	59