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Shree Tirupati Balajee Agro Trading Company Limited (BALAJEE)

₹22.08 -0.45% last close, 16 Oct

📊 NSE: BALAJEE 🏢 Packaging 📢 Latest filing: 03 Oct 2026 📝 Analysis written: 14 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Shree Tirupati's revenue was ₹140 Cr (+11.3% year on year, +7.7% on the previous quarter), and net profit ₹3.7 Cr (-41.0% year on year); the operating margin was 7.5%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹140	+11.3%	+7.7%
Operating profit	₹10.5	+0.4%	+4.0%
Net profit	₹3.7	-41.0%	+1.3%
EPS (₹)	0.41	-34.9%	-8.9%
Operating margin	7.5%	—	—

Full quarterly financials → Results calendar →

BALAJEE delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 70.15% of the BALAJEE shares traded on NSE were taken to delivery, against the stock's own 20-session average of 68.79%. That is close to its usual level. Turnover was only ₹7 lakh, so a handful of trades can move this figure.

70.15%Delivery, 16 Oct

68.79%Own 20-session average

0.9×Volume vs its average

₹22.08NSE close · -0.45%

Delivery in the last 5 sessions: 76.9% · 72.9% · 74.8% · 78.3% · 70.2%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Shree Tirupati Balajee Submits Q2 FY27 Demat Compliance Certificate

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 03 Oct 2026, 05:07 PM

Shree Tirupati Balajee Agro Trading Company Limited has submitted its compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. Issued by its Registrar and Share Transfer Agent, Purva Sharegistry (India) Pvt. Ltd., the certificate confirms share dematerialisation processing for the quarter ended September 30, 2026. The RTA reported nil share certificates dematerialised between July 1, 2026, and September 30, 2026. This is a routine quarterly regulatory filing with no operational or financial impact.

Compliance certificate filed under Regulation 74(5) for the quarter ended September 30, 2026
Issued by Registrar and Share Transfer Agent Purva Sharegistry (India) Pvt. Ltd. (SEBI Reg No. INR000001112)
Nil share certificates were dematerialised during the period from July 1, 2026, to September 30, 2026

💡 No action is required as this is a standard quarterly administrative filing; track upcoming board meetings for Q2 FY27 financial results.

Balajee Shareholders Approve All 8 AGM Resolutions Including Related Party Transactions

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 01 Oct 2026, 03:06 PM

Shree Tirupati Balajee Agro Trading Company reported the voting results of its 25th Annual General Meeting held on September 30, 2026. All 8 resolutions were approved by requisite majorities, including the adoption of FY26 financial statements and director re-appointment. Shareholders also cleared material related-party transactions for FY27 with Shree Tirupati Balajee FIBC, Jagannath Plastics, Ever Bags Packaging, Stable Textile, and AON Textiles. Overall turnout for ordinary business stood at 71.34% of outstanding shares.

All 8 resolutions passed by the requisite majority at the 25th AGM held on 30-09-2026
Overall voter turnout was 71.3369% (58,190,078 votes polled out of 81,570,852 total shares) for ordinary business
Material Related Party Transactions for FY 2026-27 approved with 5 entities (Resolutions 4 to 8)
Non-promoter voting participation on related-party resolutions stood at 17.08% to 17.10% with over 99.97% approval in favor
Total shareholder count on the record date (24-09-2026) was 38,276

💡 Track the upcoming Q2 FY27 earnings disclosures to assess operating margins and verify that related party transaction volumes remain within approved limits.

Shree Tirupati Balajee Sets Cut-Off Date as Sept 24, 2026 for 25th AGM Remote E-Voting

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 03 Sep 2026, 01:33 PM

Shree Tirupati Balajee Agro Trading Company Limited has announced the schedule for its 25th Annual General Meeting (AGM) to be held on Wednesday, September 30, 2026, at 11:30 AM IST via Video Conferencing. The company has fixed Thursday, September 24, 2026, as the cut-off date to determine shareholder voting eligibility. Remote e-voting will commence on Sunday, September 27, 2026 (9:00 AM IST) and conclude on Tuesday, September 29, 2026 (5:00 PM IST) on the CDSL platform.

25th AGM scheduled for Wednesday, September 30, 2026, at 11:30 AM via VC/OAVM
Cut-off date for remote e-voting entitlement fixed as Thursday, September 24, 2026
Remote e-voting window opens on September 27, 2026 (9:00 AM) and closes on September 29, 2026 (5:00 PM)
E-voting platform provided by Central Depository Services (India) Limited (CDSL)

💡 Shareholders holding stock as of September 24, 2026, should review the upcoming AGM notice and cast their votes between September 27 and September 29, 2026.

Shree Tirupati Balajee Convenes 25th AGM on Sept 30, 2026; Seeks Approval for Key RPTs

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 03 Sep 2026, 01:21 PM

Shree Tirupati Balajee Agro Trading Company Limited has issued the notice for its 25th Annual General Meeting (AGM) to be held on September 30, 2026 via Video Conferencing. Key agenda items include the adoption of FY26 financial statements and the re-appointment of retiring director Mrs. Anubha Mishra. The company is also seeking shareholder approval for material Related Party Transactions (RPTs) for FY27, including transactions up to Rs 60.00 crore with AON Textiles Private Limited (approx. 10.46% of FY26 consolidated turnover). Additionally, ratification of Rs 1,50,000 remuneration for the cost auditor is tabled.

25th Annual General Meeting scheduled for September 30, 2026 at 11:30 AM via Video Conferencing.
Shareholder approval sought for Material RPTs with AON Textiles Pvt Ltd up to Rs 60.00 crore (~10.46% of FY26 consolidated turnover).
Approval sought for Material RPTs with Shree Tirupati Balajee FIBC Limited and Jagannath Plastics Private Limited for FY27.
Proposed ratification of Cost Auditor remuneration of Rs 1,50,000 plus applicable taxes for FY27.

💡 Investors should monitor the AGM voting results on September 30, 2026, and assess the disclosure details regarding operational and related party pricing terms.

Resignation of HR Head Manoj Jaiswal and ERP Head Roshan Choudhary

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 12 Aug 2026, 08:43 PM

Shree Tirupati Balajee Agro Trading Company Limited announced the resignations of two functional heads effective August 12, 2026. Manoj Jaiswal has resigned as the Human Resources Department Head and Senior Management Personnel citing personal reasons. Additionally, Roshan Choudhary has resigned from the role of ERP Head due to pre-occupation with other commitments. These administrative management departures are not expected to materially affect core manufacturing or financial performance.

Manoj Jaiswal resigned as HR Department Head and Senior Management Personnel effective close of business August 12, 2026.
Roshan Choudhary resigned as ERP Head effective close of business August 12, 2026.
Both executives cited personal reasons or pre-occupation, confirming no other material reasons.

💡 Track subsequent company filings for appointments of replacement heads for HR and ERP functions.

BALAJEE: Resignation of Head of HR and Head of ERP Effective August 12, 2026

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 12 Aug 2026, 08:37 PM

Shree Tirupati Balajee Agro Trading Company Limited has announced the simultaneous resignation of two Senior Management Personnel (SMP) effective August 12, 2026. Mr. Manoj Jaiswal (Head of HR) and Mr. Roshan Choudhary (Head of ERP) have stepped down citing personal reasons and pre-occupation respectively. These exits involve functional leadership roles rather than core financial or strategic positions like the CEO or CFO. Given the company's small market cap of ₹244 Cr and thin operating margins of 5.8%, maintaining stable internal systems and human capital management is important for operational efficiency.

2 Senior Management Personnel (SMP) resigned simultaneously on August 12, 2026.
Mr. Manoj Jaiswal resigned from the position of Head of Human Resources (HR).
Mr. Roshan Choudhary resigned from the position of Head of Enterprise Resource Planning (ERP).
Both resignations are effective from the close of business hours on August 12, 2026.
The company reported TTM revenue of ₹569 Cr and a PAT of ₹12 Cr for the latest fiscal year.

💡 Investors should monitor for the appointment of new heads for these departments to ensure there is no disruption in internal organizational processes or ERP system management.

BALAJEE Appoints M/s. Dhananjay V. Joshi & Associates as Cost Auditor for FY 2026-27

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 12 Aug 2026, 08:29 PM

Shree Tirupati Balajee Agro Trading Company Limited has appointed M/s. Dhananjay V. Joshi & Associates as the Cost Auditor for the financial year 2026-27. The appointment, effective from April 1, 2026, to March 31, 2027, also covers its material unlisted subsidiary, Jagannath Plastics Private Limited. This is a standard regulatory compliance measure for manufacturing companies to audit cost records. The selected firm brings over 47 years of professional experience to the role.

Appointment of M/s. Dhananjay V. Joshi & Associates (FRN: 000030) as Cost Auditor for FY 2026-27
Audit firm possesses over 47 years of professional experience in costing systems and analysis
Appointment extends to material unlisted subsidiary Jagannath Plastics Private Limited
Board meeting for approval lasted 5 hours, concluding at 08:00 P.M. on August 12, 2026
Remuneration is subject to ratification by shareholders at the upcoming Annual General Meeting

💡 No action is required as this is a routine administrative filing. Investors may look for the ratification of auditor remuneration in the upcoming Annual General Meeting notice.

Sep 24 Set as Record Date for 25th Annual General Meeting

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 12 Aug 2026, 08:19 PM

Shree Tirupati Balajee Agro Trading Company Limited has announced its 25th Annual General Meeting (AGM) for September 30, 2026. The company has fixed the book closure period from September 24 to September 30, 2026, to determine member eligibility. This administrative update follows a challenging FY26 where the company reported a revenue of ₹568.55 crore but experienced a significant ~61% decline in net profit to ₹12.30 crore compared to FY25. The meeting will be held virtually via video conferencing.

25th Annual General Meeting scheduled for September 30, 2026, at 11:30 A.M.
Book closure period set from September 24, 2026, to September 30, 2026 (both days inclusive).
Company reported FY26 revenue of ₹568.55 crore with an operating margin of 5.77%.
Net profit for FY26 stood at ₹12.30 crore, down from ₹32.09 crore in the previous fiscal year.

💡 Investors should monitor the AGM for management commentary regarding the sharp decline in FY26 profitability and updates on the strategy to expand into high-margin pharmaceutical and food-grade FIBC packaging.

BALAJEE Approves Q1 Results; 2 Senior Management Personnel Resign

🟡 NEUTRAL ⭐ 4/10

BOARD_MEETING 📅 12 Aug 2026, 08:07 PM

Shree Tirupati Balajee Agro Trading Company's board met on August 12, 2026, to approve the unaudited financial results for the quarter ended June 30, 2026. The company scheduled its 25th Annual General Meeting (AGM) for September 30, 2026, with a book closure period from September 24 to September 30. Notably, two Senior Management Personnel (SMPs)—the Head of HR and the Head of ERP—resigned effective immediately on August 12, 2026. Additionally, M/s. Dhananjay V. Joshi & Associates was appointed as the Cost Auditor for FY 2026-27.

Approval of unaudited standalone and consolidated financial results for the quarter ended June 30, 2026
Resignation of 2 Senior Management Personnel: Mr. Manoj Jaiswal (Head of HR) and Mr. Roshan Choudhary (Head of ERP)
25th Annual General Meeting scheduled for September 30, 2026, via Video Conferencing
Book closure for AGM set from September 24, 2026, to September 30, 2026
Appointment of M/s. Dhananjay V. Joshi & Associates as Cost Auditor for FY 2026-27

💡 Investors should review the detailed Q1 FY27 financial statements once released to assess if the company is recovering from the margin compression seen in FY26 (OPM fell to 5.8% from 11% in FY24).

Routine SEBI Compliance: Nil Share Dematerialization for Quarter Ended June 30, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 03 Jul 2026, 11:31 AM

Shree Tirupati Balajee Agro Trading Company Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The report, issued by its RTA Purva Sharegistry (India) Pvt. Ltd., confirms that zero (NIL) share certificates were received for dematerialization during the period from April 1, 2026, to June 30, 2026. This is a standard administrative filing for listed entities to confirm the status of their share register. The company continues to operate with a TTM revenue of ₹569 Cr and a promoter holding of 65.42%.

Zero (NIL) share certificates were dematerialized during the quarter ended June 30, 2026.
Compliance confirmed under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018.
The certificate was issued by the Registrar and Share Transfer Agent (RTA), Purva Sharegistry (India) Pvt. Ltd.
The company maintains a stable promoter holding of 65.42% as per the latest available context.

💡 This is a routine procedural filing with no impact on business fundamentals. Investors should monitor upcoming quarterly earnings to track the company's expansion into high-margin food-grade FIBC packaging.

Trading Window Closure from July 01, 2026, for Q1 FY27 Financial Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 29 Jun 2026, 11:36 AM

Shree Tirupati Balajee Agro Trading Company Limited has announced the closure of its trading window for all designated persons starting July 01, 2026. This action is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the release of financial results for the quarter ending June 30, 2026. The window will remain closed until 48 hours after the results are officially declared. This is a standard regulatory procedure and does not reflect any change in the company's business fundamentals.

Trading window closure effective from July 01, 2026
Closure pertains to the Un-audited Standalone & Consolidated Financial Results for the quarter ended June 30, 2026
Window to reopen 48 hours after the announcement of financial results
Restriction applies to all designated persons and their immediate relatives

💡 This is a routine administrative filing. Investors should watch for the upcoming announcement of the Board Meeting date where the Q1 FY27 financial results will be approved and disclosed.

Shree Tirupati Balajee Penalized ₹4.73 Lakh by Income Tax Dept for Under-Reporting Income

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 08 Jun 2026, 06:25 PM

Shree Tirupati Balajee Agro Trading Company Limited has been hit with a penalty of ₹4,73,624 by the Income Tax Department for Assessment Year 2017-18. The order, issued under Section 270A, cites under-reporting of income due to incorrect claims of deductions, including delayed PF/ESI deposits and directors' personal expenses. The company received the order on June 5, 2026, and is currently evaluating an appeal. Management has stated that the penalty amount is not expected to have a material impact on the company's financial or operational performance.

Penalty of ₹4,73,624 imposed by the Assessment Unit, Income Tax Department.
Order pertains to Assessment Year 2017-18 under Section 270A for alleged under-reporting of income.
Violations include incorrect claims for delayed PF/ESI deposits and directors' personal expenses as business expenditure.
The company is evaluating legal steps and the possibility of filing an appeal.
Management confirms the penalty will not have a material impact on financial or operational activities.

💡 Investors should note the minor governance flag regarding personal expense claims, but the financial impact is negligible and requires no immediate portfolio adjustment.

Shree Tirupati Balajee Credit Rating Downgraded to IVR BBB+; Outlook Revised to Stable

🔴 NEGATIVE ⭐ 7/10

REGULATORY 📅 06 Jun 2026, 12:17 PM

Infomerics Valuation and Rating Ltd. has downgraded the credit rating for Shree Tirupati Balajee Agro Trading Company Limited's bank loan facilities totaling Rs. 104.00 crore. The long-term rating has been moved to IVR BBB+, though the outlook has been improved from 'Negative' to 'Stable' following a review of FY26 audited performance. The rating applies to various export packing credit and cash credit facilities across multiple banks including Axis Bank and Bank of India.

Total bank loan facilities of Rs. 104.00 crore were reviewed and rated.
Long-term rating downgraded to IVR BBB+ from a previous higher grade.
Rating outlook revised from 'Negative' to 'Stable', indicating expected stability at the current level.
Facilities include working capital limits (EPC/CC) with Axis Bank (Rs. 15 Cr), Bank of India (Rs. 53 Cr), and others.
The rating for HDFC Bank's facility has been withdrawn as per the latest communication.

💡 Investors should exercise caution due to the credit downgrade, which may reflect a weakening in the credit profile or financial metrics. However, the shift to a 'Stable' outlook suggests that the rating agency does not expect further deterioration in the near term.

BALAJEE Issues ₹4.09 Cr Corporate Guarantee for Subsidiary Jagannath Plastics

🟡 NEUTRAL ⭐ 4/10

REGULATORY 📅 29 May 2026, 06:02 PM

Shree Tirupati Balajee Agro Trading Company Limited has approved a corporate guarantee of ₹4.09 Crores in favor of Bank of Baroda. This guarantee serves as security for an additional working capital term loan facility for its material subsidiary, Jagannath Plastics Private Limited. The transaction is conducted at arm's length, although the promoter, Mr. Binod Kumar Agrawal, holds a directorship in the subsidiary. This move increases the parent company's contingent liabilities but supports the subsidiary's operational funding.

Approved a corporate guarantee of ₹4.09 Crores for material subsidiary Jagannath Plastics Private Limited.
The guarantee is provided to Bank of Baroda as security for an Additional Working Capital Term Loan.
The transaction is confirmed to be on an arm’s length basis despite promoter interest.
The guarantee creates a contingent liability for the listed entity in case of subsidiary default.

💡 Investors should note the increase in contingent liabilities, though the amount of ₹4.09 Crores is relatively small. Monitor the subsidiary's performance to ensure debt servicing capability.

Shree Tirupati Balajee Re-appoints M/s Milind Nyati & Co. LLP as Internal Auditor for FY 2026-27

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 29 May 2026, 05:47 PM

Shree Tirupati Balajee Agro Trading Company Limited has re-appointed M/s Milind Nyati & Co. LLP as its Internal Auditor for the financial year 2026-27. The decision was finalized by the Board of Directors on May 29, 2026, following the expiration of the previous term on March 31, 2026. This move ensures continuity in the company's internal control and compliance frameworks. The auditing firm is a registered ICAI member with expertise in tax, GST, and financial advisory services.

Re-appointment of M/s Milind Nyati & Co. LLP (FRN: C400403/014455C) as Internal Auditor.
The appointment is specifically for the Financial Year 2026-27.
Board approval for the re-appointment was granted on May 29, 2026.
The previous auditing tenure concluded on March 31, 2026.

💡 This is a routine regulatory disclosure regarding corporate governance. No immediate action is required from investors as it does not impact the company's financial performance or strategy.

View All BALAJEE Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

The company operates as a single operating segment in bulk packaging. Consolidated revenue grew 13.8% YoY to INR 541.49 Cr in FY24. Standalone revenue for FY25 was INR 358.30 Cr, a marginal decline of 0.15% from INR 358.85 Cr in FY24.

Geographic Revenue Split

The company serves global markets with expanding demand in Latin and Central America, Eastern Europe, and Africa. Specific percentage split by region is not disclosed in available documents.

Profitability Margins

Consolidated PAT margin improved from 4.33% in FY23 to 6.53% in FY24. Standalone PAT margin for FY25 was 4.14% (INR 14.83 Cr PAT on INR 358.30 Cr revenue), down from 4.80% in FY24.

EBITDA Margin

Consolidated EBITDA margin was 11.77% in FY24, up from 10.17% in FY23. Core profitability is driven by operational linkages across its three subsidiaries.

Capital Expenditure

The company raised INR 122.42 Cr through an Initial Public Offer (IPO) in FY25, primarily utilized for the repayment of existing loans and strengthening the capital structure rather than direct greenfield CapEx.

Credit Rating & Borrowing

As of November 18, 2025, the credit rating is IVR A- with a Negative Outlook, revised from Stable. Borrowing costs are reflected in an interest coverage ratio of 2.42x (Standalone FY25) and 3.08x (Consolidated FY24).

⚙️ Operational Drivers

Raw Materials

Polypropylene (PP) granules and HDPE are the primary raw materials, representing a significant portion of the cost of materials consumed (INR 23,283.47 Lakhs standalone in FY25).

Import Sources

Not specifically disclosed, though the company identifies alternative and sustainable sources as part of its mitigation strategy.

Capacity Expansion

Current consolidated capacity is 28,000 metric tonnes per annum (MTPA) of FIBC bags. Specific expansion timelines are not detailed in the provided text.

Raw Material Costs

Raw material costs represent approximately 65% of standalone revenue in FY25. The company uses long-term contracts and price escalation clauses in customer contracts to manage price volatility.

Manufacturing Efficiency

The company focuses on pharmaceutical and food-grade packaging to improve value-add. Efficiency is supported by strong operational linkages between the parent and its three subsidiaries.

📈 Strategic Growth

Growth Strategy

Growth will be achieved by expanding into high-margin pharmaceutical and food-grade FIBC packaging and increasing market penetration in emerging regions such as Africa and Eastern Europe. The company is also utilizing IPO proceeds to reduce debt, which lowered the Debt-Equity ratio by 61.40% to 0.44, providing a stronger balance sheet for future expansion.

Products & Services

HDPE/PP woven sacks, FIBC (Flexible Intermediate Bulk Containers) jumbo bags, BOPP woven bags, and Tarpaulin.

Brand Portfolio

Shree Tirupati Balajee.

New Products/Services

Focusing on specialized food-grade and pharmaceutical-grade FIBCs to capture higher-margin market segments.

Market Expansion

Targeting Latin and Central America, Eastern Europe, and parts of Africa for consistent global growth.

Strategic Alliances

The group operates through the parent and three subsidiaries: Shree Tirupati Balajee FIBC Limited, Jagannath Plastics Private Limited, and Honourable Packaging Private Limited.

🌍 External Factors

Industry Trends

The global FIBC industry is seeing a shift toward specialized pharmaceutical and food-grade packaging, which requires higher certification standards and offers better margins.

Competitive Landscape

The company competes in the bulk packaging industry, specifically in the FIBC and woven sacks segment, against both domestic and international manufacturers.

Competitive Moat

The moat is built on integrated manufacturing capabilities across four entities and a common management team, providing operational resilience and cash flow fungibility.

Macro Economic Sensitivity

Sensitive to global trade volumes and economic conditions in export markets like Europe and Africa.

Consumer Behavior

Increasing preference for bulk packaging solutions (FIBCs) in the pharmaceutical and food industries due to efficiency and safety.

Geopolitical Risks

Trade barriers or political instability in Latin America or Eastern Europe could disrupt the export-heavy business model.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to pollution norms and stringent quality standards for food-grade and pharmaceutical packaging.

Environmental Compliance

The company identifies environmental and sustainability pressures as a key risk and is identifying sustainable raw material sources.

Taxation Policy Impact

Standalone current tax for FY25 was INR 600.37 Lakhs on a Profit Before Tax of INR 2,204.12 Lakhs, representing an effective tax rate of approximately 27.2%.

Legal Contingencies

The company has disclosed the impact of pending litigations in Note 32 of its standalone financial statements for FY25. Specific case values are not provided in the summary.

⚠️ Risk Analysis

Key Uncertainties

The primary uncertainty is the revision of the credit rating outlook to Negative in November 2025, which may impact future funding and stakeholder confidence.