diff --git a/erpnext/stock/doctype/stock_reconciliation/stock_reconciliation.py b/erpnext/stock/doctype/stock_reconciliation/stock_reconciliation.py
index e63a6334829..6bc49503012 100644
--- a/erpnext/stock/doctype/stock_reconciliation/stock_reconciliation.py
+++ b/erpnext/stock/doctype/stock_reconciliation/stock_reconciliation.py
@@ -1504,18 +1504,17 @@ def get_stock_balance_for(
 			"use_serial_batch_fields": row.use_serial_batch_fields if row else use_serial_batch_fields,
 		}
 
-	# TODO: fetch only selected batch's values
 	data = get_stock_balance(
 		item_code,
 		warehouse,
 		posting_date,
 		posting_time,
 		with_valuation_rate=with_valuation_rate,
-		with_serial_no=has_serial_no,
+		with_serial_no=has_serial_no and not has_batch_no,
 		inventory_dimensions_dict=inventory_dimensions_dict,
 	)
 
-	if has_serial_no:
+	if has_serial_no and not has_batch_no:
 		qty, rate, serial_nos = data
 	else:
 		qty, rate = data
@@ -1534,6 +1533,20 @@ def get_stock_balance_for(
 			or 0
 		)
 
+		if has_serial_no:
+			serial_no_details = get_available_serial_nos(
+				frappe._dict(
+					{
+						"item_code": item_code,
+						"warehouse": warehouse,
+						"posting_datetime": combine_datetime(posting_date, posting_time),
+						"ignore_warehouse": 1,
+						"has_batch_no": 1,
+					}
+				)
+			)
+			serial_nos = "\n".join(d.serial_no for d in serial_no_details if d.batch_no == batch_no)
+
 		if row.use_serial_batch_fields and row.batch_no and (qty or row.current_qty):
 			rate = get_incoming_rate(
 				frappe._dict(
diff --git a/erpnext/stock/doctype/stock_reconciliation/test_stock_reconciliation.py b/erpnext/stock/doctype/stock_reconciliation/test_stock_reconciliation.py
index 1cda3f0730f..0054a7bdf52 100644
--- a/erpnext/stock/doctype/stock_reconciliation/test_stock_reconciliation.py
+++ b/erpnext/stock/doctype/stock_reconciliation/test_stock_reconciliation.py
@@ -1727,6 +1727,96 @@ class TestStockReconciliation(ERPNextTestSuite, StockTestMixin):
 
 		self.assertNotEqual(status, "Active")
 
+	def test_serial_nos_scoped_to_selected_batch(self):
+		from erpnext.stock.doctype.batch.batch import get_batch_qty
+		from erpnext.stock.doctype.stock_reconciliation.stock_reconciliation import get_stock_balance_for
+
+		item_code = self.make_item(
+			"Test Multi Batch Serial Item Reco",
+			{
+				"is_stock_item": 1,
+				"has_batch_no": 1,
+				"create_new_batch": 1,
+				"batch_number_series": "TMBSIR-BATCH-.###",
+				"has_serial_no": 1,
+				"serial_no_series": "TMBSIR-SN-.####",
+			},
+		).name
+		warehouse = "_Test Warehouse - _TC"
+
+		batch_wise_serial_nos = {}
+		for qty in (5, 3):
+			pr = make_purchase_receipt(
+				item_code=item_code,
+				warehouse=warehouse,
+				qty=qty,
+				rate=100,
+				posting_date=add_days(nowdate(), -3),
+			)
+			bundle = pr.items[0].serial_and_batch_bundle
+			batch_wise_serial_nos[get_batch_from_bundle(bundle)] = get_serial_nos_from_bundle(bundle)
+
+		first_batch, second_batch = batch_wise_serial_nos
+		serial_nos = batch_wise_serial_nos[second_batch]
+
+		data = get_stock_balance_for(
+			item_code,
+			warehouse,
+			nowdate(),
+			nowtime(),
+			batch_no=second_batch,
+			row={
+				"use_serial_batch_fields": 1,
+				"item_code": item_code,
+				"warehouse": warehouse,
+				"batch_no": second_batch,
+			},
+			company="_Test Company",
+		)
+
+		self.assertEqual(data["qty"], 3)
+		self.assertEqual(sorted(data["serial_nos"].split("\n")), sorted(serial_nos))
+
+		reco = create_stock_reconciliation(
+			item_code=item_code,
+			warehouse=warehouse,
+			qty=2,
+			rate=100,
+			batch_no=second_batch,
+			serial_no="\n".join(serial_nos[:2]),
+			use_serial_batch_fields=1,
+			reconcile_all_serial_batch=0,
+		)
+
+		reco.load_from_db()
+		self.assertEqual(reco.items[0].current_qty, 3)
+		self.assertEqual(
+			sorted(get_serial_nos_from_bundle(reco.items[0].current_serial_and_batch_bundle)),
+			sorted(serial_nos),
+		)
+		self.assertEqual(get_batch_qty(second_batch, warehouse, item_code), 2)
+		self.assertEqual(get_batch_qty(first_batch, warehouse, item_code), 5)
+
+		# Backdated fetch: the reco above already pulled serial_nos[2] out of the warehouse,
+		# but on the day before the reco all three batch serials were still in stock.
+		data = get_stock_balance_for(
+			item_code,
+			warehouse,
+			add_days(nowdate(), -1),
+			nowtime(),
+			batch_no=second_batch,
+			row={
+				"use_serial_batch_fields": 1,
+				"item_code": item_code,
+				"warehouse": warehouse,
+				"batch_no": second_batch,
+			},
+			company="_Test Company",
+		)
+
+		self.assertEqual(data["qty"], 3)
+		self.assertEqual(sorted(data["serial_nos"].split("\n")), sorted(serial_nos))
+
 	def test_change_valuation_of_batch_using_backdated_stock_reco(self):
 		from erpnext.stock.doctype.batch.batch import get_batch_qty
 		from erpnext.stock.doctype.stock_entry.test_stock_entry import make_stock_entry