Balrampur Chini Mills Limited (BALRAMCHIN)

About

Balrampur Chini Mills operates sugar production in India's Consumer Staples sector, with a market cap of ₹13,203 Cr. The company is a significant player in an agricultural commodity industry where margins and earnings are driven by raw material costs, production cycles, and commodity prices.

Face value: ₹1

Market cap

₹13,714 Cr

P/E

37.0×

P/B

3.2×

Dividend yield

1%

ROE

9.5%

ROCE

12%

Debt / equity

0.77

OPM

11.8%

EPS (TTM)

₹18.4

Book value

₹204.9

52-week high

—

52-week low

—

Key insights

Company research notes and source-linked reviews

Key risks

Operating margins highly volatile (6.96% in Jun 2026 vs 17.75% in Mar 2026), signalling exposure to commodity cost swings or seasonal production constraints
PE 35.58 is elevated relative to recent quarterly earnings power; vulnerable to valuation compression if profitability falls further
Revenue flat over recent quarters (₹1,454–₹1,671 Cr range over 12 months) with no clear growth trajectory; verify demand trends and market share
Sugar sector is commodity-driven and cyclical; researcher should verify global sugar prices, domestic policy (export duties, price controls), and monsoon impact on sugarcane supply

Generated analysis · source review pending

Growth drivers

Margin recovery from depressed levels: Jun 2026 OPM of 6.96% vs Mar 2026's 17.75% shows potential for earnings expansion if commodity input costs normalize
Moderate leverage (D/E 0.77) provides borrowing capacity to fund efficiency capex or capacity growth if incremental returns justify the cost
Verify domestic sugar demand trends, export policies (duties, subsidies), and monsoon forecasts to assess whether revenue can sustain above ₹1,600 Cr quarterly levels

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹649.1-3.5%1Y

Quick read

rule-based

Pros

+Dividend payout of 37% of profit

Cons

−Profit declined 4.6% a year over the last 5 years
−Modest revenue growth of 5.4% a year over the last 5 years

Research score

Structured signal from quality, growth, valuation and momentum.

36/100

Business quality: 35
Growth: 28
Valuation: 46

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY SMALLCAP 250 NIFTY MIDSMALLCAP 400 NIFTY 500 NIFTY TOTAL MARKET

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Balrampur Chini Mills LimitedBALRAMCHINBALRAMCHIN	₹13,714 Cr	₹16,884 Cr	₹6,366 Cr	₹721 Cr	11.8%	₹371 Cr	6%	12%	9.5%	236
Triveni Engineering & Industries LimitedTRIVENITRIVENI	₹5,055 Cr	₹7,202 Cr	₹7,617 Cr	₹547 Cr	7.2%	₹281 Cr	3.5%	12.5%	8.3%	229
Bajaj Hindusthan Sugar LimitedBAJAJHINDBAJAJHIND	₹4,556 Cr	₹8,101 Cr	₹5,332 Cr	₹273 Cr	6.7%	₹116 Cr	2.3%	2%	3.2%	-58
Shree Renuka Sugars LimitedRENUKARENUKA	₹4,542 Cr	₹11,693 Cr	₹9,365 Cr	₹29 Cr	0.2%	₹-780 Cr	-8.6%	-10.6%	—	17
Bannari Amman Sugars LimitedBANARISUGBANARISUG	₹4,126 Cr	₹4,134 Cr	₹1,671 Cr	₹156 Cr	10.3%	₹122 Cr	7.7%	9%	8%	137
Dalmia Bharat Sugar And Industries LimitedDALMIASUGDALMIASUG	₹3,209 Cr	₹5,000 Cr	₹3,378 Cr	₹421 Cr	11.8%	₹240 Cr	6.5%	10.1%	7.7%	230
Avadh Sugar & Energy LimitedAVADHSUGARAVADHSUGAR	₹1,529 Cr	₹2,935 Cr	₹2,756 Cr	₹229 Cr	8.2%	₹66 Cr	2.1%	10.7%	5.2%	225
Dhampur Sugar Mills LimitedDHAMPURSUGDHAMPURSUG	₹1,100 Cr	₹1,979 Cr	₹2,853 Cr	₹182 Cr	6.2%	₹70 Cr	2.3%	9.3%	5.5%	183
Uttam Sugar Mills LimitedUTTAMSUGARUTTAMSUGAR	₹1,052 Cr	₹1,774 Cr	₹2,179 Cr	₹205 Cr	10.4%	₹87 Cr	4.6%	18.1%	12%	180
Zuari Industries LimitedZUARIINDZUARIIND	₹840 Cr	₹3,438 Cr	₹1,099 Cr	₹60 Cr	6.8%	₹109 Cr	10.1%	2.5%	2.5%	356
Dhampur Bio Organics LimitedDBOLDBOL	₹803 Cr	₹1,857 Cr	₹3,268 Cr	₹138 Cr	4.2%	₹84 Cr	0.8%	7.9%	2.5%	213
Dwarikesh Sugar Industries LimitedDWARKESHDWARKESH	₹778 Cr	₹1,111 Cr	₹1,355 Cr	₹57 Cr	6.2%	₹15 Cr	2.2%	5.9%	3.8%	235

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	4,741	4,812	4,846	4,666	5,594	5,415	6,271
COGS	3,502	3,456	3,456	3,409	3,917	3,858	4,609
Gross profit	1,240	1,356	1,390	1,257	1,677	1,557	1,662
	550	622	678	733	865	818	884
	690	733	712	524	812	739	778
OPM %	14.6%	15.2%	14.7%	11.2%	14.5%	13.7%	12.4%
Depreciation	101	112	114	130	166	173	177
Interest	64	39	31	49	84	93	77
	44	27	32	63	180	89	37
Profit before tax	568	609	599	408	742	562	560
Tax	49	129	134	124	208	125	182
Tax %	8.6%	21.2%	22.4%	30.4%	28%	22.3%	32.4%
	519	480	465	284	534	437	378
PAT margin %	11%	10%	9.6%	6.1%	9.6%	8.1%	6%
EPS (₹)	23.4	22.5	22.4	13.9	26.5	21.7	18.7
EPS adjusted (₹)	23.6	22.9	22.8	14.1	26.5	21.6	18.7
	10.7%	11.1%	11.1%	17.9%	11.3%	13.9%	—
Annual report	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	22	21	20	20	20	20	20
Reserves	—	2,598	2,749	2,875	3,381	3,775	4,118
Minority interest	—	—	—	0	—	—	—
	—	1,239	1,210	1,879	2,008	2,626	3,169
	—	776	513	654	677	707	1,099
Total equity & liabilities	—	4,634	4,492	5,429	6,086	7,129	8,406
	1,624	1,599	1,634	2,599	2,639	2,645	2,604
CWIP	—	14	204	24	46	106	1,747
Investments	—	249	173	263	339	431	468
	—	2,772	2,481	2,543	3,062	3,947	3,587
Total assets	—	4,634	4,492	5,429	6,086	7,129	8,406

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Sugar	5,507.23	514.66	4,386.79	355.02	4,031.77	12.77
Distillery	1,720.97	203.27

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	26.1%	28.2%	28.7%	26.9%	30%	28.8%	26.5%
EBITDA margin %	14.4%	14.8%	14.4%	11%	14.1%	13%	11.8%
EBIT margin %	12.2%	12.5%	12.1%	8.2%	11.1%	9.8%	9%
PAT margin %	11%	10%	9.6%	6.1%	9.6%	8.1%	6%
Working capital
Receivable days	—	19	10	10	8	10	10
Inventory days	—	251	232	248	267	295	248
Payable days	—	63	33	38	26	26	22
NWC days	—	207	210	220	250	279	236
Leverage
Current ratio	—	1.63	1.6	1.31	1.43	1.29	1.13
Debt to EBITDA	—	1.74	1.73	3.67	2.55	3.73	4.28
Debt to equity	—	0.47	0.44	0.65	0.59	0.69	0.77
Interest coverage	9.7	16	20	9.2	9.6	6.6	7.8
Asset turnover	—	1.04	1.08	0.86	0.92	0.76	0.75
Return ratios
Return on assets %	—	10.4%	10.3%	5.2%	8.8%	6.1%	4.5%
Return on capital employed %	—	21.4%	20.8%	13.8%	21.5%	14.5%	12%
Return on equity %	—	18.3%	16.8%	9.8%	15.7%	11.5%	9.1%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	42.9%	42.9%	42.9%	42.9%	42.9%	42.87%	42.87%	42.87%	42.86%	42.85%	42.85%	42.86%
	14.19%	10.49%	11.27%	12.19%	12.86%	12.11%	12.01%	11.99%	11.21%	10.55%	10.43%	9.33%
	22.14%	21.64%	20.76%	22.58%	26.44%	26.53%	27.12%	28.02%	27.6%	27.5%	27.67%	29.09%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	20.77%	24.97%	25.07%	22.33%	17.8%	18.49%	18%	17.12%	18.33%	19.1%	19.05%	18.72%
No. of shareholders	—	—	—	—	—	—	—	—	1,93,075	1,93,296	1,86,610	1,87,662

Promoter holding down 0.04 percentage points since Sep 2023.

52 deals · 6 Sept 2021 – 31 Aug 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
31 Aug 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Buy	27,19,861	₹717.01	₹195.02 Cr
31 Aug 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Sell	27,19,199	₹717.45	₹195.09 Cr
31 Aug 2026	HRTI PRIVATE LIMITED	Bulk	NSE	Buy	19,61,272	₹710.11	₹139.27 Cr
31 Aug 2026	HRTI PRIVATE LIMITED	Bulk	NSE	Sell	17,93,242	₹709.82	₹127.29 Cr
31 Aug 2026	QE SECURITIES LLP	Bulk	NSE	Sell	14,33,501	₹711.32	₹101.97 Cr
31 Aug 2026	QE SECURITIES LLP	Bulk	NSE	Buy	14,13,788	₹712.17	₹100.69 Cr
31 Aug 2026	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Sell	13,50,074	₹712.63	₹96.21 Cr
31 Aug 2026	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Buy	13,25,169	₹712.36	₹94.40 Cr
27 Sept 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	14,81,135	₹651.24	₹96.46 Cr
27 Sept 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	13,97,935	₹650.61	₹90.95 Cr

1–10 of 52

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Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. Vivek SaraogiExecutive Director-Chairperson related to Promoter-MD
Mr. Praveen GuptaExecutive Director
Ms. Veena HingarhNon-Executive - Independent Director
Ms. Mamta BinaniNon-Executive - Independent Director
Mr. Indu BhushanNon-Executive - Independent Director
Mr. Chandra Kishore MishraNon-Executive - Independent Director
Ms. Avantika SaraogiExecutive Director
Mr. Pramod PatwariChief Financial Officer
Mr. Manoj AgarwalCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

52

across 13 fund houses

Held by these funds

20.4%

of the company's equity

All mutual funds

25.83%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

52 schemes · 13 fund houses

		Shares
SMALL CAP FUND	Nippon India Mutual Fund	1.11 Cr	771.98	0.93%	5.268%	-0
Smallcap Fund	SBI Mutual Fund	1.1 Cr	762.85	1.79%	5.206%	-0
Portfolio of Kotak Small Cap Fund	Kotak Mahindra Mutual Fund	43.53 L	301.91	1.53%	2.06%	-0
SMALL CAP FUND	Tata Mutual Fund	42.57 L	295.23	2.25%	2.015%	-0
Small Cap Fund	Axis Mutual Fund	29.35 L	203.58	0.65%	1.389%	-0
Multi Asset Allocation Fund	SBI Mutual Fund	20 L	138.7	0.66%	0.947%	-0
Flexi Cap Fund	Bank of India Mutual Fund	11.74 L	81.42	2.76%	0.556%	+88,000
SMALL CAP FUND	Bank of India Mutual Fund	10.35 L	71.75	2.17%	0.49%	+1.05 L

1–8 of 52

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

30

Annual reports

27

Credit ratings

2

Investor Presentation and earnings call

6

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

14

Interim dividend17 Nov 2025 · ex-date₹3.5
Interim dividend25 Nov 2024 · ex-date₹3
Interim dividend20 Nov 2023 · ex-date₹3
Interim dividend22 Feb 2023 · ex-date₹2.5
Interim dividend11 Feb 2022 · ex-date₹2.5
Interim dividend11 Feb 2021 · ex-date₹2.5
Interim dividend21 Nov 2019 · ex-date₹2.5
Interim dividend14 Feb 2019 · ex-date₹2.5
Interim dividend9 Aug 2017 · ex-date₹2.5
Interim dividend23 Aug 2016 · ex-date₹3.5
Dividend dividend22 Jul 2013 · ex-date₹2
Dividend dividend7 Jul 2011 · ex-date₹0.75
Dividend dividend12 Jan 2010 · ex-date₹3
Dividend dividend16 Jan 2009 · ex-date₹0.5

1

Board meeting to consider results11 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

30 announcementsExport CSV

28 Sept 2026, 7:27 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

18 Sept 2026, 6:05 pmOthers

Intimation of Repayment of Commercial Paper (CP)

Intimation of Repayment of Commercial Paper (CP) PDF

18 Sept 2026, 1:02 pmCompany Update

Intimation Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015

General PDF

17 Sept 2026, 7:52 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

16 Sept 2026, 8:07 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

16 Sept 2026, 7:59 pmCompany Update

Intimation Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015

General PDF

12 Sept 2026, 2:43 pmCompany Update

Intimation Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015

General PDF

12 Sept 2026, 2:35 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

Date	Category	Subject	Filing
28 Sept 2026, 7:27 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
18 Sept 2026, 6:05 pm	Others Intimation of Repayment of Commercial Paper (CP)	Intimation of Repayment of Commercial Paper (CP)	PDF
18 Sept 2026, 1:02 pm	Company Update General	Intimation Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015	PDF
17 Sept 2026, 7:52 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
16 Sept 2026, 8:07 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
16 Sept 2026, 7:59 pm	Company Update General	Intimation Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015	PDF
12 Sept 2026, 2:43 pm	Company Update General	Intimation Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015	PDF
12 Sept 2026, 2:35 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF

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₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	649	695	453	178	425	599
	-81	-309	-859	-225	-880	-947
	-569	-385	406	47	455	347
Net cash flow	-1	-0	0	0	0	0
Free cash flow	548	291	-403	-90	-467	-349
CFO / Operating profit %	90.9%	99.3%	88.5%	22.6%	60.4%	80.9%

Balrampur Chini Mills Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

14

1

Announcements

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

14

1

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Co-generation · revenue

Balrampur Chini Mills Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

Dividends14

Board meetings1

Announcements

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Dividends14

Board meetings1

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Co-generation · revenue

14

1

14

1