Balkrishna Industries Ltd is up for a third straight session in a row. The stock is quoting at Rs 2238, up 1.07% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.33% on the day, quoting at 17916.25. The Sensex is at 60168.85, up 0.35%. Balkrishna Industries Ltd has added around 4.19% in last one month.

Meanwhile, Nifty Bank index of which Balkrishna Industries Ltd is a constituent, has added around 1.35% in last one month and is currently quoting at 12769.4, up 0.46% on the day. The volume in the stock stood at 1.95 lakh shares today, compared to the daily average of 3.21 lakh shares in last one month.

The benchmark January futures contract for the stock is quoting at Rs 2234, up 1.2% on the day. Balkrishna Industries Ltd is down 10.11% in last one year as compared to a 1.86% fall in NIFTY and a 10.18% fall in the Nifty Bank index.

The PE of the stock is 30.01 based on TTM earnings ending September 22.

Powered by Capital Market - Live News

Balkrishna Industries announced that the company's expansion project of 55,000 MTPA Carbon Black project & Power plant at Bhuj has completed on 31 December 2022.

Powered by Capital Market - Live News

Profit before tax dropped 2% to Rs 532 crore in Q2 FY23 as compared to Rs 543 crore in Q2 FY22.

EBITDA stood flat YoY at Rs 564 crore in Q2 FY23. EBITDA margin was at 20.1% in Q2 FY23 as against 27.1% in Q2 FY22.

Total expense spiked 46.21% YoY to Rs 2,398.12 crore in Q2 FY23. Raw material cost stood at Rs 1,233 crore (up 24.04% YoY) and employee expenses stood at Rs 102 crore (up 3.03% YoY). Finance cost surged 138.12% to Rs 4.31 crore during the period under review.

Net cash generated from operating activities stood at Rs 454.26 crore in six months ended 30 September 2022 compared with Rs 478.29 crore in six months ended September 2021.

Meanwhile, the board has declared 2nd interim dividend of Rs 4 per share for the financial year 2022-23. The record date is fixed on 22 November 2022.

The company's consolidated net profit declined 2.24% to Rs 382.26 crore on 28.24% decrease in revenue from operations to Rs 2,657.52 crore in Q2 FY23 over Q2 FY22.

The company management said, Looking at the current geo-political challenges across the globe especially in Europe, which is also our biggest market, there are strong headwinds. Despite these challenges during the quarter, the Company could deliver a good performance and registered sales volumes of 78,872 MT. The recent price correction in raw materials and logistics costs bode well for our margin profile. However, as guided the benefits are expected to kick in from early Q4. During this challenging macro environment, we are unable to guide for annual sales volumes for FY23.

Balkrishna Industries is engaged in the business of manufacturing and selling of “Off-Highway Tyres” (OHT) in the specialist segments such as Agricultural, Industrial & Construction, Earthmovers & Port, Mining, Forestry, Lawn & Garden and All Terrain Vehicles (ATV).

Powered by Capital Market - Live News

Krishna Institute of Medical Sciences Ltd, JBM Auto Ltd, Aptus Value Housing Finance India Ltd, Apollo Tyres Ltd are among the other stocks to see a surge in volumes on NSE today, 15 November 2022.

Balkrishna Industries Ltd recorded volume of 20.32 lakh shares by 14:14 IST on NSE, a 7.8 times surge over two-week average daily volume of 2.61 lakh shares. The stock gained 3.71% to Rs.1,945.05. Volumes stood at 2.28 lakh shares in the last session.

Krishna Institute of Medical Sciences Ltd registered volume of 7.49 lakh shares by 14:14 IST on NSE, a 6.14 fold spurt over two-week average daily volume of 1.22 lakh shares. The stock rose 2.52% to Rs.1,616.10. Volumes stood at 5.77 lakh shares in the last session.

JBM Auto Ltd saw volume of 4.05 lakh shares by 14:14 IST on NSE, a 5.33 fold spurt over two-week average daily volume of 75894 shares. The stock increased 3.21% to Rs.437.35. Volumes stood at 2.35 lakh shares in the last session.

Aptus Value Housing Finance India Ltd clocked volume of 17.64 lakh shares by 14:14 IST on NSE, a 4.88 times surge over two-week average daily volume of 3.61 lakh shares. The stock lost 2.91% to Rs.315.00. Volumes stood at 16.99 lakh shares in the last session.

Apollo Tyres Ltd clocked volume of 132.18 lakh shares by 14:14 IST on NSE, a 4.78 times surge over two-week average daily volume of 27.63 lakh shares. The stock gained 5.10% to Rs.299.90. Volumes stood at 26.85 lakh shares in the last session.

Powered by Capital Market - Live News