Micro FMCG

B&A Ltd.

BNALTD

₹460.0

-3.16% (-15.0)

Market Cap

₹143 Cr.

P/E

17.31

B&A Ltd.

Price
Growth Table
Balance Sheet
Profit & Loss
Cash Flow
Cash Flow Analysis
Ratios
Quarterly Results
Reverse DCF

FAQs on B&A Ltd. Shareprice

Has the share price of B&A grown faster than its competition?

B&A has given better returns compared to its competitors.
B&A has grown at ~8.85% over the last 8yrs while peers have grown at a median rate of 4.29%

Is B&A stock expensive?

B&A is expensive when considering the EV/EBIDTA, however latest PE is < 3 yr avg PE.
Latest PE of B&A is 17.31, while 3 year average PE is 32.2.
Also latest EV/EBITDA of B&A is 18.86 while 3yr average is 5.8.

View FAQ's On Business

Growth Table

B&A Ltd.
Grob Tea Co
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James Warren Tea
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In %	1yr	2yr	3yr	4yr	5yr	6yr	7yr	8yr	9yr	10yr
Share Price CAGR	-31.73	35.38	23.70	19.38	29.77	19.82	10.41	8.85	11.26	13.65
TTM EPS CAGR	-20.22	-15.40	-29.39	-15.24	15.22	8.07	3.91	11.70	0.69	0.58
Sales CAGR	-8.88	-4.89	-3.08	1.70	5.01	5.56	11.70	12.51	10.25	9.97
PAT Margin (Abs Growth)	-0.08	-4.56	-2.33	1.65	1.29	-0.96	0.30	-1.88	-2.13	-3.27
PE CAGR	-14.43	60.02	75.18	40.84	12.63	10.87	6.26	-2.55	10.50	13.00
CFO CAGR	205	3.50	26.90	26.01	22.83	11.95	32.40	7.32	6.99	14.92

* Share price and PE growth are updated everyday. All other fields are as of latest financial year end. EPS adjusted for bonus and splits.

Balance Sheet

B&A Ltd.
Grob Tea Co
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James Warren Tea
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In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Assets	166	152	163	177	165	186	199	217	252	274
Non Current Assets	120	97.49	103	103	103	101	103	99.41	134	144
Net Block	102	64.70	78.02	82.05	81.77	84.47	85.97	88.65	117	118
Capital Work in Progress	8.91	20.70	10.88	8.71	6.56	5.41	5.65	5.66	10.04	14.59
Intangible Assets Under Development	—	0.39	0.13	0.11	0.14	0.21	0.11	—	—	0.17
Long Term Investments	0.05	0.04	0.05	0.06	0.04	0.06	0.07	0.08	0.11	0.82
Current Assets	41.98	51.54	56.88	70.93	60.21	82.64	93.71	114	116	130
Inventory	16.20	22.77	26.50	34.13	24.95	32.85	35.34	47.04	32.18	41.69
Accounts Receivable	11.42	11.53	14.68	15.60	16.78	21.48	23.64	22.77	23.89	22.97
Short Term Investments	—	—	—	—	—	—	—	—	—	—
Cash & Bank Balances	5.10	5.50	3.14	6.88	3.98	14.23	13.23	17.55	31.55	33.93
Liabilities	166	152	163	177	165	186	199	217	252	274
Shareholders Funds	85.89	61.70	69.63	72.77	76.28	91.07	114	122	132	141
Share Capital	3.12	3.10	3.10	3.10	3.10	3.10	3.10	3.10	3.10	3.10
Reserves	82.77	58.60	66.53	69.67	73.18	87.97	111	119	129	138
Non Current Liabilities	16.91	18.31	16.23	15.47	15.05	19.83	21.16	18.97	35.35	24.34
Secured Loans	5.52	4.85	2.41	0.22	—	5.40	5.37	2.38	14.45	—
Unsecured Loans	—	—	—	—	—	—	—	—	—	16.18
Current Liabilities	58.54	66.68	70.53	80.57	63.25	61.93	47.79	58.09	63.78	84.90
Accounts Payable	19.99	15.19	18.92	20.24	15.44	15.23	16.06	20.00	12.87	16.73
Short Term Loans	27.48	38.87	36.90	43.00	36.26	28.02	14.27	23.82	30.84	51.22

Balance Sheet Snapshot

No data available.

Fund Flow Analysis

Increase
Decrease
Total

No data available.

*Data is as of latest FY end

Profit & Loss

B&A Ltd.
Grob Tea Co
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James Warren Tea
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In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Sales	158	156	189	191	207	248	290	292	290	264
Operating Expenses	135	138	166	173	190	216	247	269	273	255
Raw Material	51.10	55.05	68.18	74.87	78.39	105	125	131	121	101
Material Cost (%)	32.73	33.00	37.03	38.05	39.28	41.65	42.85	44.34	42.31	37.17
Employee Cost	44.31	48.71	54.67	60.47	64.56	66.00	74.17	82.69	89.93	99.96
Power & Fuel Cost	8.70	8.50	9.30	9.39	12.41	11.14	11.16	14.51	15.32	—
Operating Profit	22.49	17.40	23.41	18.52	16.78	31.68	43.21	23.09	17.53	9.36
Other Income	0.92	1.02	0.73	0.91	1.11	2.18	1.53	2.70	9.27	16.02
OPM (%)	14.27	11.19	12.38	9.69	8.11	12.79	14.88	7.90	6.04	3.54
Depreciation and Amortisation	3.23	3.72	3.89	4.84	4.62	4.53	4.51	5.19	5.14	5.91
Interest	5.40	4.77	5.06	5.91	5.54	4.83	4.16	3.74	4.54	6.06
Profit Before Tax	14.78	9.93	15.20	8.68	7.74	24.49	36.07	20.52	17.12	13.40
Tax	4.19	2.95	4.53	2.29	1.55	7.23	9.37	6.73	3.68	4.69
Net Profit	9.80	5.92	9.31	5.03	4.06	14.31	24.09	11.42	10.24	8.71
Number of shares(Crs)	0.31	0.31	0.31	0.31	0.31	0.31	0.31	0.31	0.31	—
Dividend Payout Ratio(%)	9.49	15.72	9.99	6.16	0.00	2.17	2.57	1.36	0.00	—

TTM Values as of Mar 2025

Cash Flow

B&A Ltd.
Grob Tea Co
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James Warren Tea
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In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Cash from Operating Activity	18.60	4.59	16.63	11.71	12.98	16.01	30.55	10.72	32.73	-2.83
Profit Before Tax	14.78	9.90	15.18	8.67	7.74	24.53	36.05	20.54	17.16	13.40
Adjustments	8.40	7.23	8.39	9.45	9.65	8.34	6.29	8.19	2.91	-0.63
OCF Before Working Capital	23.45	17.13	23.57	18.12	17.39	32.87	42.34	28.73	20.07	12.77
Working Capital Changes	-1.30	-9.04	-3.93	-3.44	0.52	-10.33	-4.85	-6.46	18.96	-13.79
Taxes Paid	-3.55	-3.50	-3.02	-2.97	-4.93	-6.53	-6.94	-11.56	-6.30	-1.81
Cash from Investing Activity	-9.31	-8.47	-7.37	-6.55	-2.14	-5.96	-13.66	-15.97	-50.16	-2.53
Net Fixed Assets Purchased	-9.39	-8.53	-7.61	-6.74	-2.26	-6.08	-6.25	-7.87	-32.14	-11.19
Fixed Assets Purchased	-9.40	-8.53	-7.61	-6.77	-2.26	-6.08	-6.25	-8.07	-38.14	-11.20
Fixed Assets Sold	0.01	—	—	0.03	—	—	0.00	0.20	6.00	0.01
Investment Purchased	—	—	-1.06	-1.56	-1.04	-0.51	-2.73	-7.91	-17.32	—
Investment Sold	—	—	0.94	1.54	0.80	0.45	—	0.28	0.07	—
Interest Recieved	0.08	0.25	0.36	0.21	0.37	0.19	0.40	0.60	1.37	2.58
Dividends Recieved	—	0.00	0.00	—	—	—	—	—	—	—
Subsidiary Investments	—	—	—	—	—	—	—	—	—	—
Cash from Financing Activity	-8.18	-7.05	-9.24	-8.73	-6.21	0.02	-5.07	-5.98	8.65	-4.36
Proceeds From Shares	—	—	—	—	—	—	—	—	—	—
Net Long Term Borrowings	-1.94	-0.67	-2.44	-1.97	-0.22	10.92	-0.02	-2.99	12.07	1.73
Proceeds From Borrowings	—	—	—	—	—	5.46	—	—	12.07	1.73
Repayment From Borrowings	-1.94	-0.67	-2.44	-1.97	-0.22	5.46	-0.02	-2.99	—	—
Interest Paid	-5.38	-4.77	-5.06	-5.91	-5.54	-4.83	-4.16	-3.74	-4.54	-6.06
Dividend Paid	—	-1.00	-1.00	-1.00	-0.38	—	-0.31	-0.83	-0.37	-0.28
Net Cash Flow	1.11	-10.93	0.01	-3.57	4.63	10.07	11.82	-11.24	-8.78	-9.72
Opening Cash & Cash Equivalents	3.98	-24.72	-35.65	-35.64	-39.21	-34.58	-24.51	-12.69	-23.93	-32.71
Effect of FX	—	—	—	—	—	—	—	—	—	—
Closing Cash & Cash Equivalents	5.10	-35.65	-35.64	-39.21	-34.58	-24.51	-12.69	-23.93	-32.71	-42.43
Net Capex (est)	9.39	8.53	7.61	6.74	2.26	6.08	6.25	7.87	32.14	11.19
Free Cash Flow (est)	9.21	-3.95	9.01	4.96	10.72	9.93	24.30	2.84	0.59	-14.02

Cash Flow Analysis

Increase
Decrease
Total

No data available.

Ratios

= Dominant Factor

B&A Ltd.
Grob Tea Co
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James Warren Tea
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	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Operational Ratios
Quick Ratio	0.34	0.44	0.43	0.43	0.46	0.56	0.80	1.22	1.16	1.31
Liquid Assets (Crs)	19.80	25.78	28.76	30.39	36.80	35.26	49.79	58.37	67.11	83.85
Current Liabilities (Crs)	57.81	58.54	66.68	70.53	80.57	63.25	61.93	47.79	58.09	63.78
Current Ratio	0.64	0.72	0.77	0.81	0.88	0.95	1.33	1.96	1.96	1.82
Current Assets (Crs)	37.19	41.98	51.54	56.88	70.93	60.21	82.64	93.71	114	116
Current Liabilities (Crs)	57.81	58.54	66.68	70.53	80.57	63.25	61.93	47.79	58.09	63.78
Interest Coverage Ratio	3.03	3.74	3.08	4.01	2.47	2.40	6.07	9.68	6.49	4.77
EBIT (Crs)	19.52	20.19	14.70	20.26	14.59	13.28	29.32	40.22	20.60	21.66
Interest Expenses (Crs)	6.45	5.40	4.77	5.06	5.91	5.54	4.83	4.16	3.74	4.54
Fixed Asset Turnover	1.02	1.05	1.28	1.37	1.30	1.37	1.57	2.03	1.97	1.60
Net Sales (Crs)	148	158	156	189	191	207	248	290	292	290
Fixed Assets (Crs)	145	150	121	138	147	151	158	143	148	182
Cash Conversion Cycle	12.67	8.06	22.93	32.86	45.35	0.54	16.51	25.32	29.64	30.32
Inventory Days	38.24	37.71	44.17	47.10	57.91	52.08	42.58	42.86	51.45	49.84
Days Receivable	24.14	24.06	26.01	25.05	28.92	28.54	28.19	28.36	28.98	29.36
Days Payable	49.71	53.71	47.24	39.30	41.48	80.08	54.25	45.89	50.79	48.87
Debt to Equity Ratio	0.54	0.44	0.75	0.61	0.62	0.48	0.45	0.21	0.25	0.37
Total Debt (Crs)	41.72	38.11	46.50	42.19	45.40	36.48	40.71	24.44	30.24	49.06
Shareholders Equity (Crs)	77.05	85.89	61.70	69.63	72.77	76.28	91.07	114	122	132
Free Cash Flow/Sales (%)	5.23	5.84	-2.54	4.77	2.60	5.18	4.01	8.37	0.97	0.20
Free Cash Flow(est) (Crs)	7.72	9.21	-3.95	9.01	4.96	10.72	9.93	24.30	2.84	0.59
Net Sales (Crs)	148	158	156	189	191	207	248	290	292	290
Profitability Ratios
Gross Margin (%)	64.18	67.27	67.00	62.97	61.95	60.72	58.35	57.15	55.66	57.69
Op Profit Margin (%)	14.78	14.27	11.19	12.38	9.69	8.11	12.79	14.88	7.90	6.04
Operating Profit (Crs)	22.97	23.41	18.42	24.14	19.43	17.89	33.86	44.74	25.79	26.80
Net Sales (Crs)	148	158	156	189	191	207	248	290	292	290
Net Profit Margin (%)	6.56	6.22	3.80	4.92	2.63	1.96	5.78	8.30	3.91	3.53
Net Profit (Crs)	9.69	9.80	5.92	9.31	5.03	4.06	14.31	24.09	11.42	10.24
Net Sales (Crs)	148	158	156	189	191	207	248	290	292	290
ROCE (%)	19.83	18.80	17.16	21.84	15.13	13.08	23.63	26.59	12.96	11.49
EBIT (Crs)	19.52	20.19	14.70	20.26	14.59	13.28	29.32	40.22	20.60	21.66
Capital Employed (Crs)	98.46	107	85.63	92.74	96.40	102	124	151	159	188
Return on Assets (%)	6.20	5.91	3.88	5.70	2.84	2.46	7.70	12.10	5.26	4.06
Net Profit (Crs)	9.69	9.80	5.92	9.31	5.03	4.06	14.31	24.09	11.42	10.24
Total Assets (Crs)	156	166	152	163	177	165	186	199	217	252
ROIC (%)	18.05	15.47	14.71	18.58	13.54	11.79	19.70	22.88	9.00	6.53
Op Profit after Taxes (Crs)	14.47	13.81	9.62	13.71	10.07	9.73	19.13	28.64	12.02	9.73
Invested Capital (Crs)	80.19	89.30	65.37	73.78	74.38	82.49	97.09	125	134	149
ROE (%)	12.58	11.41	9.59	13.37	6.91	5.32	15.72	21.07	9.35	7.75
Net Profit Margin (%)	6.56	6.22	3.80	4.92	2.63	1.96	5.78	8.30	3.91	3.53
Asset Turnover ratio	0.94	0.95	1.02	1.16	1.08	1.26	1.33	1.46	1.35	1.15
Equity Multiplier	2.03	1.93	2.47	2.34	2.43	2.16	2.04	1.74	1.78	1.91
Adjusted EPS	31.26	31.61	19.09	30.04	16.23	13.08	46.18	77.72	36.83	33.03
Valuation Ratios
P/E	4.38	4.88	12.79	8.51	9.86	7.26	3.21	3.25	6.62	13.46
Price to Book	0.78	0.76	1.23	1.14	0.68	0.39	0.50	0.69	0.62	1.04
EV/EBITDA	3.49	3.45	6.33	4.90	4.54	3.46	2.14	2.00	3.43	5.80
Dividend Yield (%)	2.19	1.94	1.23	1.17	0.63	0.00	0.67	0.79	0.20	0.00

Quarterly Results

B&A Ltd.
Grob Tea Co
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James Warren Tea
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In Rs. Cr.	Dec'22	Mar'23	Jun'23	Sep'23	Dec'23	Mar'24	Jun'24	Sep'24	Dec'24	Mar'25
Net Sales	80.30	38.42	54.33	102	96.26	37.71	50.51	97.38	73.44	43.02
Operating Expenses	76.59	49.27	58.71	77.11	84.43	52.34	51.77	67.65	72.22	63.36
Increase/Decrease in Stock	9.84	2.52	-10.32	-5.59	10.26	8.35	-12.20	-8.85	5.84	12.55
Raw Material	29.06	21.69	32.95	40.08	31.90	15.79	25.49	29.59	24.13	21.71
Employee Cost	22.18	16.59	22.64	24.40	25.08	17.81	24.90	30.36	25.29	19.41
Selling and Distribution Expenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Electricity, Power & Fuel Cost	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Gen_AdminExpenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Miscellaneous Expenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Profit	3.71	-10.85	-4.38	24.70	11.84	-14.63	-1.26	29.73	1.22	-20.34
Other Income	0.37	1.24	0.60	6.34	0.92	1.41	0.96	1.05	1.24	12.77
Interest	1.05	0.57	1.67	1.06	0.82	0.99	1.66	1.53	1.44	1.42
PBDT	5.99	-9.48	-5.46	30.00	11.95	-14.19	-1.99	29.26	1.03	-8.99
Depreciation and Amortization	1.34	1.42	1.31	1.37	1.31	1.14	1.76	1.76	1.77	0.62
Profit Before Tax	4.65	-10.90	-6.77	28.62	10.63	-15.33	-3.75	27.49	-0.74	-9.61
Tax	0.81	2.91	0.61	1.85	0.80	-0.07	1.42	1.23	0.84	1.20
Profit After Tax	3.84	-13.81	-7.38	26.77	9.83	-15.26	-5.17	26.26	-1.58	-10.80
Exceptional Items	2.96	0.69	-0.01	0.01	0.01	0.02	-0.03	0.01	0.01	0.00
Net Profit	3.28	-13.93	-7.81	25.50	9.28	-16.25	-6.15	25.42	-2.16	-11.18
Quarterly Ratios
EPS	10.58	-44.94	-25.18	82.24	29.94	-52.42	-19.83	81.99	-6.97	-36.06
Operating Profit Margin	4.62	-28.24	-8.06	24.26	12.29	-38.79	-2.49	30.53	1.67	-47.28
Net Profit Margin	4.78	-35.95	-13.59	26.29	10.22	-40.45	-10.23	26.97	-2.15	-25.11

Reverse DCF

Earnings

Discount Rate (%)

Terminal Multiple

5 YEAR

10 YEAR

20 YEAR

23.00%

Implied Growth Rate over a 5 year period*

5.60%

Implied Growth Rate over a 10 year period*

1.50%

Implied Growth Rate over a 20 year period*

*Implied Growth calculated using Newton-Raphson method.

Learn how to use Reverse DCF

FAQs on B&A Ltd. Financials

How strong is B&A balance sheet?

Balance sheet of B&A is moderately strong.

Is the debt of B&A increasing or decreasing?

Yes, The net debt of B&A is increasing.
Latest net debt of B&A is ₹33.47 Crs as of Mar-25.
This is greater than Mar-24 when it was -₹13.51 Crs.

Is the profitablity of B&A improving?

No, profit is decreasing.
The profit of B&A is ₹8.71 Crs for TTM, ₹10.24 Crs for Mar 2024 and ₹11.42 Crs for Mar 2023.

Does B&A pay decent dividends?

The company seems to be paying a very low dividend.
Investors need to see where the company is allocating its profits.
B&A latest dividend payout ratio is 1.36% and 3yr average dividend payout ratio is 1.97%

How has B&A allocated its funds?

Companies resources are allocated to majorly productive assets like Plant & Machinery and unproductive assets like Cash & Short Term Investments

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B&A Ltd.

B&A Ltd.

Has the share price of B&A grown faster than its competition?

Is B&A stock expensive?

How strong is B&A balance sheet?

Is the debt of B&A increasing or decreasing?

Is the profitablity of B&A improving?

Does B&A pay decent dividends?

How has B&A allocated its funds?

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