Balrampur Chini Mills Ltd
NSE: BALRAMCHIN · Sugar · sector
₹625.35NSE close 2026-10-26
Key numbers
Market cap₹13,212 cr
Price₹625.35
52w high / low₹781 / ₹394
P/E34.1xSector median 12.9x
P/B3.2xSector median 0.9x
Book value₹195.9
Dividend yield0.53%Sector median 0.91%
ROE9.3%Sector median 6.3%
ROCE8.1%Sector median 6.8%
OPM11.3%Sector median 6.0%
Debt / equity0.77xSector median 0.72x
EV/EBITDA22.7xSector median 11.8x
Interest cover7.7x
Current ratio1.13x
Sales growth 3y+10.4%Sector median -1.4%
Profit growth 3y+10.0%Sector median -11.6%
PEG3.29x
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 35 companies in Sugar (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹4 cr vs borrowings ₹3,169 cr (FY26): borrowings are higher by ₹3,165 cr.
- Borrowings rose in each of the last 3 years (₹1,879 cr → ₹3,169 cr).
- Operating profit covered interest 7.7x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 2 of the last 5 years (FY25, FY24).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 12% of net profit in the last 12 months.
- Dividend paid in 5 of the last 5 financial years.
- Price ₹625.35 on 2026-10-26: -19.9% from the 52-week high, +58.9% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹721.15 · low ₹403.75
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,298 | 1,192 | 1,504 | 1,542 | 1,671 | 1,454 | 1,604 | 1,637 |
| EBITDA | 49 | 124 | 365 | 134 | 120 | 202 | 285 | 114 |
| OPM % | 3.8% | 10.4% | 24.3% | 8.7% | 7.2% | 13.9% | 17.8% | 7.0% |
| Other income | 65 | 7 | 9 | 6 | 9 | 10 | 12 | 15 |
| Net profit | 67 | 70 | 229 | 52 | 54 | 113 | 160 | 44 |
| EPS (₹) | 3.33 | 3.49 | 11.35 | 2.55 | 2.67 | 5.62 | 7.90 | 2.16 |
| Revenue YoY | +28.7% | +22.0% | +6.7% | +6.1% | ||||
| Profit YoY | -19.8% | +61.0% | -30.4% | -14.4% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 4,846 | 4,666 | 5,594 | 5,415 | 6,271 | 6,366 |
| EBITDA | 698 | 512 | 786 | 704 | 741 | 721 |
| Net profit | 465 | 284 | 534 | 437 | 378 | 371 |
| EPS (₹) | 22.44 | 13.94 | 26.49 | 21.65 | 18.74 | 18.35 |
| Revenue growth | -3.7% | +19.9% | -3.2% | +15.8% | +15.0% | |
| Profit growth | -38.8% | +88.1% | -18.3% | -13.4% | -11.3% | |
| Dividend / share (₹) | 2.50 | 2.50 | 3.00 | 3.00 | 3.50 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +10.4% | +5.4% | +15.0% |
| Net profit | +10.0% | -4.6% | -11.3% |
| EPS | +10.4% | -3.6% | – |
| Share price | – | +3.7% (2y) | +45.3% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 2,896 | 3,401 | 3,796 | 4,138 |
| Borrowings | – | 1,879 | 2,008 | 2,626 | 3,169 |
| Cash & equivalents | – | 73 | 3 | 3 | 4 |
| Total assets | – | 5,429 | 6,086 | 7,129 | 8,406 |
| Fixed assets | – | 2,598 | 2,639 | 2,645 | 2,604 |
| Capital work in progress | – | 24 | 46 | 106 | 1,747 |
| Investments | – | 0 | 6 | 6 | 6 |
| Receivables | – | 125 | 126 | 143 | 179 |
| Inventory | – | 2,319 | 2,869 | 3,119 | 3,135 |
| Payables | – | 352 | 278 | 277 | 282 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 695 | 453 | 178 | 425 | 599 |
| Cash from investing | -309 | -859 | -225 | -880 | -947 |
| Cash from financing | -385 | 406 | 47 | 455 | 347 |
| Capex | 404 | 856 | 269 | 892 | 949 |
| Free cash flow | 291 | -403 | -91 | -467 | -349 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 9.8% | 15.7% | 11.5% | 9.1% |
| ROCE % | – | 9.3% | 14.8% | 9.7% | 8.2% |
| Debtor days | – | 10 | 8 | 10 | 10 |
| Inventory days | – | 248 | 267 | 295 | 248 |
| Payable days | – | 38 | 26 | 26 | 22 |
| Cash conversion cycle (days) | – | 220 | 249 | 279 | 236 |
| Working capital days | – | 48 | 60 | 50 | 22 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 42.79% |
| FIIs | 8.96% |
| DIIs | 30.93% |
| of which Mutual funds | 27.55% |
| of which Insurance | 0.72% |
| Government | 0.00% |
| Public (non-institutions) | 17.33% |
| Quarter | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 42.87% | 42.87% | 42.86% | 42.85% | 42.85% | 42.86% | 42.86% | 42.79% |
| Promoter group | % |
|---|---|
| Saraogi Family Trust (Vivek Saraogi-trustee) | 24.79% |
| Vivek Saraogi | 3.68% |
| Meenakshi Mercentiles Ltd | 3.66% |
| Sumedha Saraogi | 2.70% |
| Udaipur Cotton Mills Co Ltd | 2.69% |
| Saraogi Trust (Stuti Dhanuka-trustee) | 2.02% |
| Novel Suppliers PVT Ltd | 1.68% |
| Avantika Saraogi | 1.51% |
| Vivek Saraogi HUF (Vivek Saraogi-karta) | 0.07% |
| Stuti Dhanuka | 0.00% |
| Ashray Butta | 0.00% |
| Aryan Saraogi Butta | 0.00% |
| VM Vinimay PVT. Ltd. | 0.00% |
| Balrampur Agro Industries PVT. Ltd. | 0.00% |
| Ganna Agro PVT. Ltd. | 0.00% |
| Public holders above 1% | % |
|---|---|
| SBI Comma Fund | 6.78% |
| Nippon Life India Trustee Ltd | 5.35% |
| HSBC Mutual Fund | 2.90% |
| Kotak Small CAP Fund | 2.89% |
| Aditya Birla SUN Life Mutual Fund | 2.53% |
| Tata Mutual Fund | 2.01% |
| Bank of India Consumption Fund | 1.72% |
| Axis Mutual Fund Trustee Limited | 1.39% |
1,88,654 shareholders. Pledged: 0.00% of promoter shares.
Peers in Sugar
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| BALRAMCHIN | ₹13,212 cr | 34.1x | 3.2x | 9.3% | 8.1% | 11.3% | +10.4% | 0.53% |
| TRIVENI | ₹4,979 cr | 17.7x | 1.5x | 8.7% | 8.3% | 7.0% | +6.5% | 1.75% |
| BANARISUG | ₹4,029 cr | 33.1x | 2.1x | 6.6% | 7.3% | 9.3% | -8.8% | 0.39% |
| RENUKA | ₹3,858 cr | – | – | – | -2.7% | 0.3% | +0.5% | – |
| DALMIASUG | ₹3,357 cr | 16.5x | 1.0x | 6.3% | 7.0% | 10.8% | +3.6% | 1.45% |
| BAJAJHIND | ₹2,606 cr | 12.9x | 0.7x | 2.9% | 0.8% | 4.8% | -4.9% | – |
| AVADHSUGAR | ₹1,627 cr | 24.7x | 1.4x | 5.9% | 6.8% | 8.2% | -1.3% | 1.23% |
| UTTAMSUGAR | ₹1,179 cr | 13.6x | 1.3x | 10.4% | 10.2% | 9.3% | +2.3% | 0.87% |
| DHAMPURSUG | ₹1,095 cr | 15.6x | 0.9x | 6.0% | 6.8% | 6.4% | -0.8% | 0.02% |
| DBOL | ₹806 cr | 9.5x | 0.8x | 8.2% | 5.4% | 4.2% | +5.7% | 1.02% |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Sugar | ₹5,507 cr | 75.8% | ₹515 cr | 9.3% |
| Distillery | ₹1,721 cr | 23.7% | ₹203 cr | 11.8% |
| Polylactic Acid(PLA) | ₹24 cr | 0.3% | ₹-17 cr | -70.0% |
| Others | ₹14 cr | 0.2% | ₹3 cr | 20.2% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2025-11-17 | Dividend | Interim Dividend - Rs 3.50 Per Share |
| 2024-11-25 | Dividend | Interim Dividend - Rs 3 Per Share |
| 2024-07-24 | Other | Annual General Meeting |
| 2023-11-20 | Dividend | Interim Dividend - Rs 3 Per Share |
| 2023-08-11 | Other | Annual General Meeting |
| 2023-02-22 | Dividend | Interim Dividend - Rs 2.50 Per Share |
| 2022-08-18 | Other | Annual General Meeting |
| 2022-02-11 | Dividend | Interim Dividend - Rs 2.50 Per Share |
| 2021-09-03 | Other | Annual General Meeting |
| 2021-02-11 | Dividend | Interim Dividend - Rs 2.50 Per Share |
| 2020-09-14 | Other | Annual General Meeting |
| 2020-07-02 | Buyback | Buyback |
| 2019-11-21 | Dividend | Interim Dividend - Rs 2.50 Per Share |
| 2019-08-22 | Other | Annual General Meeting |
| 2019-04-16 | Buyback | Buy Back |
| 2019-02-14 | Dividend | Interim Dividend - Rs 2.50 Per Share |
| 2018-08-23 | Other | Annual General Meeting |
| 2018-03-05 | Buyback | Buyback |
| 2017-08-22 | Other | Annual General Meeting |
| 2017-08-09 | Dividend | Interim Dividend - Rs 2.50 Per Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Manufacturing of Sugar: The Company possesses the second largest sugar manufacturing capacity in India. The Company operates ten manufacturing plants in Uttar Pradesh.
- Production of Industrial Alcohol: The Company’s distillery capacity is majorly dedicated to the production of ethanol (green fuel) for blending it with petrol and is supplied to Oil Marketing Companies.
- Co-generated Power: The Company uses bagasse as primary input for production of green power (electricity) for captive use majorly.
| Sector | Fast Moving Consumer Goods |
| Industry | Sugar |
| Sub-industry | Sugar |
| Symbol | BALRAMCHIN |
| BSE code | 500038 |
| ISIN | INE119A01028 |
| Face value | ₹1.0 |
| Incorporated | 1975-07-14 |
| Website | www.chini.com |
| Plants (India / abroad) | 10 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.