Balkrishna Industries Ltd Share Price – NSE /  BSE

Tyres, Small Cap

Balkrishna Industries Ltd is up for a fifth straight session in a row. The stock is quoting at Rs 2976, up 0.62% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is down around 0.89% on the day, quoting at 24920.2. The Sensex is at 81387.58, down 0.99%. Balkrishna Industries Ltd has dropped around 7.28% in last one month.

Meanwhile, Nifty Auto index of which Balkrishna Industries Ltd is a constituent, has dropped around 2.63% in last one month and is currently quoting at 25835.3, down 0.94% on the day. The volume in the stock stood at 1.93 lakh shares today, compared to the daily average of 3.39 lakh shares in last one month.

The benchmark September futures contract for the stock is quoting at Rs 2974.05, up 0.34% on the day. Balkrishna Industries Ltd is up 23.99% in last one year as compared to a 26.33% spurt in NIFTY and a 60% spurt in the Nifty Auto index.

The PE of the stock is 35.65 based on TTM earnings ending June 24.

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Revenue from operations jumped 26.86% to Rs 2,689.53 crore in the quarter ended June 2024 as compared with Rs 2,120.02 crore posted in the same period last year.

Profit before tax stood at Rs 626.61 crore in first quarter of FY25, rising 52.62% from Rs 410.55 crore reccorded in Q1 FY24.

EBITDA grew 47% YoY to Rs 714 crore during the June 2024 quarter. EBITDA margin improved to 26% in Q1 FY25 as against 23% in same quarter previous fiscal.

During Q1 FY25, total expenses increased 22.54% YoY to Rs 2,221.75 crore. Cost of materials consumed was at Rs 1,274.92 crore (up 23.85% YoY), employee benefits expense was at Rs 116.01 crore (up 9.99% YoY) and finance costs stood at 20.97 crore (up 0.81% YoY) during the period under review.

The overall sales volumes stood at Rs 83,570 MT in Q1 of FY25, up 24% as compared with Rs 67,209 MT in Q1 of FY24.

On consolidated basis, the company’s net profit increased 47.64% to Rs 489.99 crore on 25.71% rise in revenue from operations to Rs 2,714.50 crore in Q1 FY25 over Q1 FY24.

Meanwhile, the board has declared first interim dividend of Rs 4 per equity share for the financial year 2024-25.

Further, the company has informed about a new capex spend of up to Rs 1,300 crore for off road tires at Bhuj, having capacity of 35,000 MTPA to be implemented in phases.

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).

Shares of Balkrishna Industries slumped 7.16% to currentlty trade at Rs 2,836.85 on the BSE.

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Net profit of Balkrishna Industries rose 47.64% to Rs 489.99 crore in the quarter ended June 2024 as against Rs 331.88 crore during the previous quarter ended June 2023. Sales rose 25.71% to Rs 2714.50 crore in the quarter ended June 2024 as against Rs 2159.35 crore during the previous quarter ended June 2023.

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Balkrishna Industries announced that the Board of Directors of the Company at its meeting held on 9 August 2024, inter alia, have recommended the 1st interim dividend of Rs 4 per equity Share (i.e. 200%) , subject to the approval of the shareholders.

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