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VOL 296

Balkrishna Industries Performance

Days Range

Low: ₹2,286.50
High: ₹2,353.20
Previous Close ₹2,280.35
Open ₹2,286.50
Volume 2,81,458
Day’s Range ₹2,286.50 - ₹2,353.20
52W Range ₹1,908.90 - ₹2,795.50
Market Cap ₹44,071 Cr

Fundamentals of Balkrishna Industries

ROCE (TTM) 13.15%
P/E Ratio (TTM) 35.41
P/B Ratio 5.36
Industry P/E 25.58
Debt to Equity 0.35
ROE 12.74%
EPS (TTM) 64.38
Dividend Yield 0.7%
Book Value 425
Face Value 2

Financials of Balkrishna Industries

Mar 2023Jun 2023Sep 2023Dec 2023
Net Sales2,317.012,159.352,253.192,274.41
Expenses1,992.91,813.71,880.911,894.66
Profit before tax355.02429.7455.52408.94
Operating Profit259.8331.88347.44305.42
Net Profit259.8331.88347.44305.42
EPS in Rs13.4417.1717.9715.8

About Balkrishna Industries

History

Balkrishna Industries Limited (BKT) is a company engaged in the business of manufacturing and selling various types of tyres, including Off-Highway Tyres (OHT) in specialist segments such as agriculture, construction, earthmovers and port, mining, forestry, etc. Headquartered in Mumbai, it sells products in 130 countries through a network of international distributors.

Balkrishna Industries Ltd was incorporated on November 20, 1961. The company went public in 1963. The company set up its first plant in Aurangabad in 1987. In 2002-03, it acquired the automobile tyre plant belonging to Govind Rubber Ltd at Bhiwadi in Rajasthan. In FY 2004-05, it launched Tractor Radial Tyres. In FY 2012-13, Balkrishna Industries carried out a modernisation scheme at its existing plants, using capex worth ₹145 crore. In 2015, the company completed the greenfield tyre plant project at Bhuj, Gujarat.

During FY 2020-21, the company set up a brownfield project for debottlenecking and the addition of balancing and ancillary equipment at their Bhuj plant. It enhanced the installed capacity of Carbon Black from an achievable capacity of 1,15,000 MTPA to 2,00,000 MTPA, including 30,000 MTPA of high-value advanced carbon black material. This led to an increased capacity for power generation in the captive power plant.

It completed the expansion of the mixing facility and enhanced its warehousing capacity. It also commissioned the setting up of an ultra-large sized all-steel OTR Radial Tire Plant. It also commissioned the modernisation and automation of its Bhiwadi, Chopanki and Bhuj Plants.

Business Segments

The company is primarily engaged in the tyre business. Its paper and textile businesses have been delegated to its subsidiaries. Within the tyre segment, the company offers the following tyre types:

  1. Agricultural tyres – Within this category, Balkrishna offers tyres for tractors, harvesters and ‘implements’ and each type has several patterns within them.
  2. Industrial tyres – This category includes the subcategories of Loader, Backhoe Loader and Compact Loader.
  3. OTR tyres – This category of off-the-road truck tyres comprises tyres like articulated dump truck tyres, rigid dump truck tyres and on/off tyres.

Of the total revenue from operations, 77.89% comes from exports and the remaining 22.11% from domestic sales.

Subsidiaries

As of 31 March 2023, the company had 1 domestic and 4 foreign wholly-owned subsidiaries. The domestic one is known as BKT Tires Ltd.

The overseas subsidiaries are:

  1. BKT Europe S.R.L.
  2. BKT USA Inc.
  3. BKT Tires (Canada) Inc.
  4. BKT Exim US Inc.

The company also has one step-down subsidiary in the name of BKT Tires Inc., based in the USA, which is a 100% subsidiary of BKT Exim US, INC.

Key Personnel

Mr. Arvind Poddar, CMD

Mr. Poddar succeeded his father, Shri Mahabirprasad Poddar, who founded the family-run company. Mr. Arvind Poddar became the chairman in 2016, and over the years, he has steered the company by adapting to changing times. Under him, the company’s performance coincided with strong demand across overseas territories, including Europe and the Americas, leading to the highest-ever volumes of sales. It is slowly expanding its market share in foreign geographies, including the US.

Corporate Actions

The company conducted the following corporate actions:

Bonus Issue

The company performed a bonus issue of stocks at 1:1 with the record date of December 23, 2017.

Stock Split

The company split its stock from the face value of ₹10 to ₹2 with the record date of December 21, 2010.

Mergers and Acquisitions

  • The company initially had 3 business activities under their umbrella, namely tyre, paper and textile processing. They transferred their paper business and textile processing business to the wholly owned subsidiaries, Balkrishna Paper Mills Ltd and Balkrishna Synthetic Ltd, respectively, effective from April 1, 2007.
  • The Board of Directors of Balkrishna Industries, in 2016, allowed the amalgamation of its wholly owned subsidiary company M/s. BKT Exim Limited (Transferor Company) into itself.
Parent Organisation Poddar
Founded 1961
Managing Director Arvind Poddar
NSE Symbol BALKRISIND

Peer Comparison

Stocks Market Cap (cr) Market Price (₹) 52 Week Low-High (₹)
MRF Ltd ₹63,639.86

150876

711.50 (0.47%)

150050 - 151445
Apollo Tyres Ltd ₹33,206.25

524.5

1.65 (0.32%)

520.75 - 528.05
CEAT Ltd ₹11,749.13

2907.55

0.70 (0.02%)

2891.45 - 2993.75
TVS Srichakra Ltd ₹3,359.79

4466

99.10 (2.27%)

4378.15 - 4521
JK Tyre & Industries Ltd ₹13,111.79

510.9

8.10 (1.61%)

503.1 - 515.95

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FAQs

What is the Share price of Balkrishna Industries (BALKRISIND)?

Balkrishna Industries (BALKRISIND) share price as of February 23, 2024, on NSE is Rs 2,335.00 (NSE) and Rs 2,333.55 (BSE) on BSE.

Can I buy Balkrishna Industries (BALKRISIND) shares?

Yes, You can buy Balkrishna Industries (BALKRISIND) shares by opening a Demat account with Angel One.

How do I buy Balkrishna Industries (BALKRISIND) from Angel One?

Balkrishna Industries (BALKRISIND) share can be brought through the following modes:
  1. Direct investment: You can buy Balkrishna Industries (BALKRISIND) shares by opening a Demat account with Angel One.
  2. Indirect investment: The indirect method involves investing through ETFs and Mutual Funds that offer exposure to Balkrishna Industries (BALKRISIND) shares.

Is Balkrishna Industries a Debt free Company?

No, Balkrishna Industries is not a debt free company.

What is the main business of Balkrishna Industries?

The main business of Balkrishna Industries is to manufacture off-highway tires pertaining to specialist segments, including agriculture, construction and industrial, ATV, earthmoving, lawn and garden, port, mining, forestry, and gardening. It is also engaged in producing tubes and carbon black.

Who are the promoters of Balkrishna Industries?

Some of the promoters of Balkrishna Industries are Rajiv Poddar, VKP Enterprises LLP, Khushboo Rajiv Poddar, Rishabh Sureshkumar Poddar, TMP Enterprises LLP, Shyamlata Sureshkumar Poddar, AKP Enterprises LLP, Rap Enterprises LLP, Arvindkumar M Poddar, Vijayalaxmi A Poddar, and Balgopal Holding & Traders Ltd.

What are the Subsidiaries that comes under Balkrishna Industries?

The main subsidiaries that come under Balkrishna Industries are BKT Tyres Limited, BKT Europe S.R.L., BKT USA Inc., BKT Exim US, Inc., BKT Tires (Canada) Inc., and BKT Tires, Inc.