Balaji Phosphates Limited, incorporated in 1996, is a specialized fertilizer manufacturer dedicated to serving India's agricultural sector. The company produces and supplies a range of essential agricultural inputs, including Single Super Phosphate (SSP), NPK Granulated and Mixed Fertilizers, and Zinc Sulphate. All products are manufactured in compliance with India's Fertilizer Control Order standards. Balaji Phosphates markets its products under the trusted brands 'RATNAM' and 'BPPL' to a wide distribution network comprising retailers, wholesalers, and cooperatives, ultimately reaching farmers across the country.
The company's primary manufacturing unit is strategically located in Dewas, Madhya Pradesh. This location offers significant logistical advantages, enabling efficient distribution to key agricultural markets. Balaji Phosphates serves prominent regions such as Madhya Pradesh, Chhattisgarh, Maharashtra, Andhra Pradesh, and Telangana.
To ensure product quality and consistency, the company maintains an in-house testing laboratory. This facility is equipped with advanced analytical instruments including electronic analytical balances, pH metres, sieve shakers, muffle furnaces, water distillation plants, and magnetic stirrers. The laboratory plays a crucial role in conducting rigorous quality control tests on both raw materials and finished products.
Balaji Phosphates offers a comprehensive suite of fertilizer products designed to enhance agricultural productivity and soil health:
- Single Super Phosphate (SSP): Available in both powder and granular forms.
- NPK Granulated & Mixed Fertilizers: Offered in various grades to meet diverse soil and crop requirements, including:
- 12:32:06
- 15:05:05
- 16:30:10
- 17:17:17
- 20:20:00
- 10:20:10
- Zinc Sulphate: Available in 21% and 33% purity.
- Fortified SSP with Zinc & Boron: Includes Zincated SSP and Boronated SSP, available in powder and granular forms.
As of March 31, 2024, the manufacturing unit had the following capacities:
- Single Super Phosphate: 120,000 MT per annum
- Zinc Sulphate: 3,300 MT per annum
- NPK Granulated & Mix: 49,500 MT per annum
Key raw materials such as rock phosphate are sourced internationally from countries like Jordan, Morocco, and Egypt. Locally, the company procures beneficiated rock phosphate (BRP) and sulfuric acid.
Balaji Phosphates Limited has demonstrated a steady revenue growth trajectory over the past few fiscal years.
- Revenue: Increased from Rs 123.65 crore in FY22 to Rs 144.54 crore in FY23, and further to Rs 151.55 crore in FY24. The company reported revenue of ₹151.68 crores in 2024 against ₹144.64 crore in 2023.
- Profit: The company reported a profit of ₹6.04 crores in 2024, compared to ₹6.09 crores in 2023.
For the period ended August 31, 2024, the company recorded revenue from operations of Rs 53.37 crore and a net profit of Rs 4.15 crore.
Key Financial Metrics (as of August 2024 unless otherwise stated):
- Total Assets: Grew from ₹82.35 crore in FY22 to ₹95.28 crore as of August 2024.
- Net Worth: Increased from ₹22.86 crore in FY22 to ₹39.15 crore as of August 2024.
- Reserves and Surplus: Recorded at ₹21.31 crore (Aug 2024), showing consistent growth.
- Total Borrowings: Stood at ₹35.58 crore in August 2024.
As of April 4, 2025, Balaji Phosphates Ltd has a market capitalization of ₹281 crore, reflecting its established position within the fertilizer sector. Promoter holding was 69.90% as of March 2025, following the public offering.
Balaji Phosphates successfully launched its Initial Public Offering (IPO) with bidding open from February 28, 2025, to March 4, 2025. The IPO allotment was finalized on March 5, 2025, and the shares were listed on the NSE SME platform on March 7, 2025.
- IPO Price Band: ₹70 per share.
- IPO Subscription: 1.21 times.
- Listing Price: ₹75.00, representing a 7.14% premium over the IPO offer price of ₹70.00.
- Total IPO Issue Size: ₹50.11 crores, comprising a fresh issue of 59.40 lakh shares aggregating to ₹41.58 crores and an offer for sale of 12.18 lakh shares aggregating to ₹8.53 crores.
- Anchor Investors: Ahead of the IPO, on February 27, 2025, the company raised ₹4 crore from anchor investors by allotting 5.72 lakh shares at ₹70 per share to two anchor investors.
The company is guided by an experienced management team with extensive industry expertise:
- Mohit Airen: Holds a Graduate Degree in Commerce and a Master's Degree in Business Economics from Devi Ahilya Vishwavidyalaya, Indore. He is also a Microsoft Certified Professional. Mr. Airen brings over 20 years of experience in managing corporate entities.
- Mr. Sunil Kumar Talwar (Executive Director, DIN: 10105902): Possesses a Bachelor's Degree in Science and an MBA in Finance from Devi Ahilya University, Indore. Appointed as Director on April 8, 2023, he oversees the company's marketing functions. Mr. Talwar has 40 years of experience as a Marketing Executive in various fertilizer manufacturing companies located near Indore.
Balaji Phosphates Limited holds a strong position in the fertilizer industry, supported by:
- Long-standing Expertise: Over 28 years of dedicated service to farmers and agro-industries.
- Strong Regional Presence: An established distribution network across major agricultural states in India.
- Strategic Manufacturing Location: The Dewas, Madhya Pradesh facility provides significant logistical advantages.
- Established Network: The company boasts a robust network of quality dealers and reliable raw material suppliers.
As of August 31, 2024, the company employed a total of 40 individuals. Balaji Phosphates operates within a competitive fertilizer sector, where demand is intrinsically linked to agricultural requirements and supportive government policies. The sustainability and growth of its business model are influenced by market demand, agricultural policies, raw material availability, and competitive dynamics.
The company remains focused on expanding its market reach and enhancing operational efficiency to solidify its standing in India's agricultural sector. With consistent financial performance and a strategic presence in key agricultural regions, Balaji Phosphates is committed to providing quality fertilizer products vital for crop productivity and soil health enhancement.
