Balkrishna Industries Ltd

Balkrishna Inds Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Balkrishna Industries Ltd

₹ 2,475 -0.04%
28 May 10:30 a.m.
bkt-tires.com BSE: 502355 NSE: BALKRISIND
About

Balkrishna Industries Limited (BKT) started its Off-Highway tyre business in 1987. For over 30 years, BKT has successfully focused on specialist segments such as agricultural, construction and industrial as well as earthmoving, port and mining, ATV, and gardening applications. [1]

Key Points

Product Portfolio
The company is one of the world’s leading manufacturers of “Off-Highway Tires” catering to specialty segments like Agricultural, Mining, Construction, Industrial, Earthmover, Port, ATV, and Turf care applications in both cross-ply and radial construction. It has a product range with more than 3,200 SKUs. [1] The company has a 5-6% market share in the global specialty market. [2]

Website BSE NSE
  • Market Cap ₹ 47,846 Cr.
  • Current Price ₹ 2,475
  • High / Low ₹ 3,378 / 2,152
  • Stock P/E 29.4
  • Book Value ₹ 537
  • Dividend Yield 0.65 %
  • ROCE 17.9 %
  • ROE 16.9 %
  • Face Value ₹ 2.00
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Pros

  • Company has been maintaining a healthy dividend payout of 23.1%

Cons

  • Working capital days have increased from 99.0 days to 144 days

* 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.

Peer comparison

Sector: Tyres Industry: Tyres

Part of BSE 500 BSE 200 Nifty 500 BSE Auto BSE MidCap

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
2,374 2,646 2,704 2,142 2,318 2,120 2,226 2,280 2,673 2,690 2,436 2,541 2,747
1,874 2,191 2,260 1,885 1,847 1,639 1,707 1,741 2,008 2,039 1,856 1,953 2,145
Operating Profit 500 455 445 257 471 481 518 539 665 650 580 588 602
OPM % 21% 17% 16% 12% 20% 23% 23% 24% 25% 24% 24% 23% 22%
108 102 226 43 54 104 107 66 171 159 90 187 99
Interest 2 3 4 14 25 21 23 35 30 21 40 15 49
Depreciation 117 126 134 145 151 154 159 159 172 162 165 171 176
Profit before tax 488 429 532 142 348 411 444 411 634 627 465 589 475
Tax % 23% 25% 24% 30% 27% 24% 24% 25% 24% 24% 25% 25% 24%
374 320 404 100 256 312 335 309 481 477 350 439 362
EPS in Rs 19.33 16.54 20.89 5.15 13.22 16.15 17.35 15.99 24.87 24.69 18.08 22.73 18.73
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
3,575 3,776 3,220 3,728 4,447 5,244 4,782 5,758 8,267 9,811 9,299 10,413
2,681 3,040 2,365 2,596 3,340 3,929 3,530 3,971 6,291 8,090 7,094 7,992
Operating Profit 894 736 855 1,132 1,108 1,315 1,252 1,786 1,976 1,721 2,205 2,420
OPM % 25% 19% 27% 30% 25% 25% 26% 31% 24% 18% 24% 23%
14 278 133 250 336 211 248 161 431 333 448 535
Interest 25 47 40 21 14 11 9 10 8 46 110 125
Depreciation 165 240 282 304 311 333 368 406 444 557 644 674
Profit before tax 718 728 665 1,056 1,118 1,183 1,123 1,531 1,954 1,451 1,899 2,156
Tax % 32% 33% 34% 32% 34% 34% 16% 25% 28% 26% 24% 24%
488 489 439 716 739 782 945 1,155 1,411 1,079 1,438 1,628
EPS in Rs 25.26 25.29 22.69 37.02 38.24 40.45 48.88 59.77 72.97 55.80 74.37 84.23
Dividend Payout % 4% 5% 12% 11% 21% 20% 41% 28% 38% 29% 22% 19%
Compounded Sales Growth
10 Years: 11%
5 Years: 17%
3 Years: 8%
TTM: 12%
Compounded Profit Growth
10 Years: 13%
5 Years: 13%
3 Years: 7%
TTM: 28%
Stock Price CAGR
10 Years: 21%
5 Years: 18%
3 Years: 4%
1 Year: -20%
Return on Equity
10 Years: 17%
5 Years: 17%
3 Years: 16%
Last Year: 17%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 19 19 19 19 39 39 39 39 39 39 39 39
Reserves 1,865 2,272 2,762 3,532 4,057 4,640 4,989 5,969 6,886 7,550 8,823 10,345
2,350 2,358 1,880 1,361 835 830 863 894 2,443 3,254 3,037 3,214
639 665 720 843 914 921 840 1,139 1,490 1,429 1,706 1,962
Total Liabilities 4,874 5,315 5,382 5,756 5,845 6,430 6,731 8,040 10,857 12,272 13,605 15,560
2,329 2,415 2,858 2,849 2,849 2,786 3,277 3,334 3,986 5,349 6,284 6,913
CWIP 476 634 231 110 118 585 586 856 1,258 1,392 944 985
Investments 427 445 866 1,350 1,103 1,083 1,063 1,418 1,897 2,037 2,687 3,265
1,642 1,821 1,426 1,448 1,774 1,975 1,806 2,432 3,715 3,494 3,690 4,396
Total Assets 4,874 5,315 5,382 5,756 5,845 6,430 6,731 8,040 10,857 12,272 13,605 15,560

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
594 979 1,095 842 753 813 1,164 1,363 881 1,414 2,052 1,753
-1,241 -428 -569 -534 -92 -621 -656 -1,158 -1,889 -1,772 -1,468 -1,477
390 -130 -656 -616 -655 -173 -521 -194 1,003 359 -568 -268
Net Cash Flow -257 421 -129 -308 6 19 -13 11 -5 1 17 9

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 63 58 43 40 41 40 50 46 48 47 61 56
Inventory Days 112 73 100 106 101 106 100 144 158 117 104 124
Days Payable 79 70 87 84 67 53 62 100 78 36 73 54
Cash Conversion Cycle 96 61 56 63 75 92 87 90 129 128 91 126
Working Capital Days 97 40 -10 18 58 74 67 67 84 76 77 144
ROCE % 19% 17% 15% 20% 22% 22% 19% 23% 23% 14% 16% 18%

Shareholding Pattern

Numbers in percentages

Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
58.29% 58.30% 58.30% 58.30% 58.30% 58.30% 58.30% 58.30% 58.30% 58.30% 58.30% 58.30%
14.30% 12.96% 12.45% 12.42% 12.40% 12.53% 12.69% 12.24% 12.61% 11.72% 11.28% 11.46%
11.17% 18.81% 20.12% 20.21% 20.90% 21.11% 21.32% 21.97% 22.29% 23.31% 23.81% 23.63%
0.00% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.11% 0.15% 0.15% 0.15% 0.15%
16.24% 9.84% 9.03% 8.99% 8.30% 7.94% 7.59% 7.38% 6.65% 6.52% 6.46% 6.46%
No. of Shareholders 1,35,3951,73,8021,58,2011,46,8041,40,4901,36,2141,25,3411,34,8311,23,4351,24,3881,18,9661,23,755

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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Credit ratings

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