Balkrishna Inds.

₹2620.9 -1 | 0%

WEBSITE BSE:502355 NSE : BALKRISH IND 09 Jul, 15:59

Market Cap ₹50667 Cr.

Stock P/E 30.6

P/B 4.9

Current Price ₹2620.9

Book Value ₹ 537.3

Face Value 2

52W High ₹3375.4

Dividend Yield 0.61%

52W Low ₹ 2157.2

Edit Ratio

Balkrishna Inds. Research see more...

EQUITY RESEARCH: BALKRISHNA INDUSTRIES LIMITED

Balkrishna Industries Limited (BKT)

Overview Inc. Year: 1961Industry: Tyres & Allied

Balkrishna Industries Limited is engaged in supplying pneumatic tires. The Company gives tires, tubes and tire flaps. It focuses on manufacture of a number of off-highway tires (OHT). These tires are mainly intended for agricultural, industrial and construction, earthmover and port, mining, forestry, garden and lawn and all-terrain cars (ATV). It offers tires for compact loader, compact utility tractor, cotton picker, forwarder, cross-kart, golfing kart, harvester, hay harvester/baler, mower, orchard harvester, pivot irrigator, rotor rake, rototiller, sprayer, spreader, tanker, tractor, trailer, trencher, and vineyard harvester. The Company gives tires for backhoe loader, compact dumper, compactor, container handler, excavator, cellular home and skid steer. It additionally offers tires for dozer, haul teach, load haul dump (LHD) and underground mining motors. Its merchandise consist of AGRIMAX RT 855, PL 801, EARTHMAX SR forty one, EM 934, AGRIMAX TERIS and EARTHMAX SR 30, amongst others.

Balkrishna Inds. Share Price

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Volume

Price

Price: NSE50 DMA200 DMAVolume

Quarterly Price

Quarterly Monthly

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Peer Comparison

Balkrishna Inds. Quarterly Results

#(Fig in Cr.)	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
Net Sales	2166	2317	2159	2253	2274	2682	2715	2420	2560	2752
Other Income	45	57	106	107	66	171	162	91	187	99
Total Income	2211	2374	2265	2360	2340	2853	2876	2510	2748	2852
Total Expenditure	1896	1837	1658	1720	1734	2001	2051	1840	1960	2139
Operating Profit	314	537	607	640	606	852	825	670	788	713
Interest	14	26	22	24	36	31	22	41	16	50
Depreciation	149	156	155	160	161	174	163	166	173	178
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	151	355	430	456	409	647	640	463	600	485
Provision for Tax	43	95	98	108	104	160	150	116	150	117
Profit After Tax	108	260	332	347	305	487	490	347	449	369
Adjustments	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	108	260	332	347	305	487	490	347	449	369
Adjusted Earnings Per Share	5.6	13.4	17.2	18	15.8	25.2	25.3	17.9	23.3	19.1

Balkrishna Inds. Profit & Loss

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Net Sales	3817	3239	3723	4444	5210	4811	5783	8295	9760	9369	10447	10447
Other Income	277	174	254	340	218	368	172	438	364	449	539	539
Total Income	4094	3413	3977	4784	5428	5179	5955	8733	10124	9818	10986	10986
Total Expenditure	3089	2417	2592	3341	3907	3655	3972	6286	8070	7113	7989	7990
Operating Profit	1005	996	1385	1442	1522	1524	1983	2447	2054	2705	2997	2996
Interest	48	40	22	15	12	11	12	9	48	113	129	129
Depreciation	244	282	304	311	333	374	416	455	571	651	681	680
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	713	674	1059	1116	1177	1140	1555	1982	1435	1941	2187	2188
Provision for Tax	241	229	342	380	403	180	377	547	377	470	532	533
Profit After Tax	473	446	717	736	774	960	1178	1435	1057	1471	1655	1655
Adjustments	0	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	473	446	717	736	774	960	1178	1435	1057	1471	1655	1655
Adjusted Earnings Per Share	24.4	23.1	37.1	38.1	40	49.6	60.9	74.3	54.7	76.1	85.6	85.6

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	12%	8%	17%	11%
Operating Profit CAGR	11%	7%	14%	12%
PAT CAGR	13%	5%	12%	13%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-18%	5%	16%	23%
ROE Average	17%	17%	19%	19%
ROCE Average	18%	17%	20%	20%

Balkrishna Inds. Balance Sheet

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Shareholder's Funds	2276	2775	3543	4083	4654	5008	6000	6933	7557	8854	10388
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	1359	831	219	3	2	2	1	501	1038	691	387
Other Non-Current Liabilities	190	267	381	359	368	238	264	309	403	479	633
Total Current Liabilities	1493	1526	1647	1434	1455	1558	1902	3236	3349	3660	4227
Total Liabilities	5318	5398	5789	5878	6479	6806	8166	10979	12348	13685	15635
Fixed Assets	2415	2859	2797	2771	2709	3222	3284	3940	5313	6253	6880
Other Non-Current Assets	832	974	1246	1091	1299	1663	2403	3145	3106	2787	3183
Total Current Assets	2071	1566	1746	2017	2471	1921	2479	3894	3928	4644	5571
Total Assets	5318	5398	5789	5878	6479	6806	8166	10979	12348	13685	15635

Balkrishna Inds. Cash Flow

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Opening Cash & Cash Equivalents	15	433	328	23	26	46	47	55	46	69	75
Cash Flow from Operating Activities	984	1072	847	750	820	1173	1339	908	1448	2082	1764
Cash Flow from Investing Activities	-437	-552	-563	-92	-636	-678	-1173	-1897	-1783	-1476	-1479
Cash Flow from Financing Activities	-130	-625	-589	-654	-165	-495	-158	980	359	-601	-279
Net Cash Inflow / Outflow	417	-105	-306	4	20	1	8	-9	23	5	6
Closing Cash & Cash Equivalent	434	328	23	26	46	47	55	46	69	75	80

Balkrishna Inds. Ratios

#	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Earnings Per Share (Rs)	24.45	23.06	37.08	38.06	40.02	49.65	60.92	74.26	54.7	76.12	85.62
CEPS(Rs)	37.05	37.66	52.81	54.17	57.23	68.97	82.45	97.81	84.23	109.79	120.83
DPS(Rs)	2.4	5.5	8	8	8	20	17	28	16	16	16
Book NAV/Share(Rs)	117.73	143.55	183.28	211.25	240.75	259.09	310.39	358.67	390.94	458.04	537.38
Core EBITDA Margin(%)	18.79	25.01	29.92	24.7	25.01	24.03	31.3	24.2	17.3	24.02	23.5
EBIT Margin(%)	19.66	21.71	28.59	25.34	22.82	23.91	27.08	23.99	15.18	21.88	22.15
Pre Tax Margin(%)	18.43	20.5	28	25.01	22.58	23.68	26.87	23.88	14.69	20.67	20.92
PAT Margin (%)	12.21	13.55	18.96	16.49	14.85	19.95	20.35	17.29	10.83	15.67	15.83
Cash Profit Margin (%)	18.5	22.13	27.01	23.46	21.23	27.71	27.55	22.78	16.67	22.6	22.34
ROA(%)	9.14	8.32	12.82	12.61	12.52	14.45	15.73	14.99	9.07	11.31	11.29
ROE(%)	22.66	17.65	22.69	19.3	17.71	19.86	21.39	22.2	14.6	17.93	17.2
ROCE(%)	16.97	15.35	22.5	22.88	22.7	20.07	24.21	24.19	14.57	17.98	18.09
Receivable days	56.34	53.6	38.46	36.45	34.91	41.99	42.37	40.67	41.32	49.76	51.31
Inventory Days	46.2	44.92	42.21	44.78	48.25	52.13	49.06	57.43	62.39	58.28	54.34
Payable days	74.44	95.12	82.61	66.73	59.39	65.69	82.03	71.7	49.06	52.84	56.34
PER(x)	13.21	13.65	18.68	28.18	24.85	15.93	27.75	28.8	35.68	30.45	29.78
Price/Book(x)	2.74	2.19	3.78	5.08	4.13	3.05	5.45	5.96	4.99	5.06	4.74
Dividend Yield(%)	0.37	0.87	0.58	0.75	0.8	2.53	1.01	1.31	0.82	0.69	0.63
EV/Net Sales(x)	2.14	2.36	3.96	4.85	3.84	3.36	5.81	5.28	4.2	5.1	5.02
EV/Core EBITDA(x)	8.13	7.68	10.66	14.96	13.16	10.6	16.95	17.91	19.96	17.68	17.5
Net Sales Growth(%)	1.19	-15.13	14.94	19.35	17.24	-7.65	20.2	43.44	17.65	-4	11.51
EBIT Growth(%)	3.74	-6.18	51.32	4.65	5.14	-3.25	36.2	27.12	-25.53	38.52	12.73
PAT Growth(%)	-0.43	-5.68	60.83	2.64	5.15	24.04	22.7	21.9	-26.33	39.16	12.47
EPS Growth(%)	-0.43	-5.67	60.83	2.64	5.15	24.04	22.7	21.9	-26.33	39.16	12.47
Debt/Equity(x)	1.04	0.68	0.39	0.21	0.19	0.19	0.17	0.36	0.44	0.35	0.31
Current Ratio(x)	1.39	1.03	1.06	1.41	1.7	1.23	1.3	1.2	1.17	1.27	1.32
Quick Ratio(x)	1.11	0.77	0.77	0.97	1.18	0.84	0.81	0.69	0.67	0.91	0.9
Interest Cover(x)	15.93	17.92	49.12	76.26	95.58	106.61	133.22	212.99	30.69	18.11	18.02
Total Debt/Mcap(x)	0.38	0.31	0.1	0.04	0.05	0.06	0.03	0.06	0.09	0.07	0.07

Balkrishna Inds. Shareholding Pattern

#	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
Promoter	58.29	58.29	58.29	58.29	58.29	58.29	58.29	58.29	58.29	58.29
FII	12.45	12.43	12.41	12.54	12.69	12.24	12.61	11.72	11.28	11.46
DII	20.23	20.3	21	21.23	21.42	22.08	22.44	23.46	23.96	23.78
Public	9.03	8.98	8.3	7.95	7.6	7.38	6.66	6.53	6.47	6.47
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
Promoter	11.27	11.27	11.27	11.27	11.27	11.27	11.27	11.27	11.27	11.27
FII	2.41	2.4	2.4	2.42	2.45	2.37	2.44	2.26	2.18	2.21
DII	3.91	3.92	4.06	4.1	4.14	4.27	4.34	4.53	4.63	4.6
Public	1.74	1.74	1.6	1.54	1.47	1.43	1.29	1.26	1.25	1.25
Others	0	0	0	0	0	0	0	0	0	0
Total	19.33	19.33	19.33	19.33	19.33	19.33	19.33	19.33	19.33	19.33

Pros

Company has reduced debt.
Company is almost debt free.

Cons

Debtor days have increased from 52.84 to 56.34days.
Stock is trading at 4.9 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Balkrishna Inds. News

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Balkrishna Inds.

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Balkrishna Inds. Research see more...

Overview Inc. Year: 1961Industry: Tyres & Allied

Balkrishna Inds. Share Price

Alert Data

Quarterly Price

Peer Comparison

Balkrishna Inds. Quarterly Results

Balkrishna Inds. Profit & Loss

Growth Rates

Balkrishna Inds. Balance Sheet

Balkrishna Inds. Cash Flow

Balkrishna Inds. Ratios

Balkrishna Inds. Shareholding Pattern

Balkrishna Inds. News

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