BALRAMCHIN · Fast Moving Consumer Goods
Balrampur Chini Mills Ltd. reported revenue of ₹1,604 cr for January to March 2026, +6.6% on the year and +10.3% on the quarter. Over the last four quarters revenue comes to ₹6,271 cr, +15.8% on the four before.
Operating profit (EBITDA) was ₹285 cr, a margin of 17.8%, −650 bps on the year and +388 bps on the quarter. Over the last 8 quarters the margin has ranged from 3.8% to 24.3%, averaging 12.2%. Operating costs grew +15.8%, faster than revenue at +6.6%, so operating profit grew less than sales.
Net profit was ₹160 cr, −30.1% on the year and +41.6% on the quarter, with earnings per share of ₹7.90. Profit before other income, one-offs and tax grew faster, at −26.7%; other income, one-offs or tax held the headline back. The tax rate of 32% is in line with its recent average. Profit over the last four quarters totals ₹379 cr, −13.1% on the four before.
On earnings per share of ₹18.74 over the last four quarters, the stock at ₹716.60 trades at 38.2 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
Operating margin fell sharply on the year. Pricing, input costs, or mix?
EBITDA margin 17.8%, −650 bps on the year (+388 bps on the quarter).
Source: Quarterly statements
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹1,539 cr | ₹1,230 cr | ₹1,434 cr | ₹1,422 cr | ₹1,298 cr | ₹1,192 cr | ₹1,504 cr | ₹1,542 cr | ₹1,671 cr | ₹1,454 cr | ₹1,604 cr | ₹1,637 cr |
| YoY | — | — | — | +2% | −16% | −3% | +5% | +8% | +29% | +22% | +7% | +6% |
| EBITDA margin | 10.7% | 9.2% | 24.1% | 11.7% | 3.8% | 10.4% | 24.3% | 8.7% | 7.2% | 13.9% | 17.8% | 7.0% |
| Other income, % of PBT | 52% | 49% | 4% | 15% | 124% | 18% | 6% | 22% | 23% | 10% | 9% | 36% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 25% | 26% | 30% | 31% | −14% | 21% | 26% | 29% | 33% | 34% | 32% | 25% |
| Net profit | ₹166 cr | ₹91.0 cr | ₹203 cr | ₹70.0 cr | ₹67.0 cr | ₹70.0 cr | ₹229 cr | ₹52.0 cr | ₹54.0 cr | ₹113 cr | ₹160 cr | ₹44.0 cr |
| YoY | — | — | — | −5% | −60% | −23% | +13% | −26% | −19% | +61% | −30% | −15% |
| Core profit YoY | — | — | — | −2% | −113% | +16% | +5% | −34% | — | +111% | −27% | −33% |
| EPS | ₹8.24 | ₹4.53 | ₹10.08 | ₹3.48 | ₹3.33 | ₹3.49 | ₹11.35 | ₹2.55 | ₹2.67 | ₹5.62 | ₹7.90 | ₹2.09 |
| Flags | 1 | 1 | · | ✓ | 3 | ✓ | ✓ | ✓ | ✓ | ✓ | 1 | 1 |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Balrampur Chini Mills Ltd. reported revenue of ₹1,604 cr (+6.6% on the year) and net profit of ₹160 cr (−30.1% on the year) for January to March 2026.
Profit before other income, exceptional items and tax moved −26.7% on the year, against −30.1% for reported profit.
1 check raised a question: Operating margin fell sharply on the year. Pricing, input costs, or mix?
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