Balkrishna Industries Ltd

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

Balkrishna Industries Ltd

₹ 2,201 1.53%
09 Jul 2:11 p.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 3,600 SKUs. [1]

Website BSE NSE
  • Market Cap ₹ 42,546 Cr.
  • Current Price ₹ 2,201
  • High / Low ₹ 2,801 / 1,970
  • Stock P/E 42.2
  • Book Value ₹ 567
  • Dividend Yield 0.74 %
  • ROCE 11.0 %
  • ROE 9.46 %
  • Face Value ₹ 2.00
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Pros

  • Company has been maintaining a healthy dividend payout of 21.9%

Cons

  • Stock is trading at 3.86 times its book value
  • Company has a low return on equity of 12.9% over last 3 years.

* 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

Consumer Discretionary Automobile and Auto Components Auto Components Tyres & Rubber Products

Part of BSE 500 BSE 200 BSE Dollex 200 Nifty 500 BSE Auto

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
2,318 2,120 2,226 2,280 2,673 2,690 2,436 2,541 2,747 2,760 2,389 2,730 2,941
1,847 1,639 1,707 1,741 2,008 2,039 1,856 1,953 2,145 2,257 1,890 2,098 2,312
Operating Profit 471 481 518 539 665 650 580 588 602 503 498 632 629
OPM % 20% 23% 23% 24% 25% 24% 24% 23% 22% 18% 21% 23% 21%
54 104 107 66 171 159 90 187 99 104 71 77 -4
Interest 25 21 23 35 30 21 40 15 49 30 32 33 35
Depreciation 151 154 159 159 172 162 165 171 176 186 190 192 196
Profit before tax 348 411 444 411 634 627 465 589 475 391 347 483 395
Tax % 27% 24% 24% 25% 24% 24% 25% 25% 24% 27% 24% 22% 25%
256 312 335 309 481 477 350 439 362 287 265 375 295
EPS in Rs 13.22 16.15 17.35 15.99 24.87 24.69 18.08 22.73 18.73 14.85 13.69 19.40 15.26
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
3,776 3,220 3,728 4,447 5,244 4,782 5,758 8,267 9,811 9,299 10,413 10,820
3,040 2,365 2,596 3,340 3,929 3,530 3,971 6,291 8,090 7,094 7,991 8,556
Operating Profit 736 855 1,132 1,108 1,315 1,252 1,786 1,976 1,721 2,205 2,422 2,263
OPM % 19% 27% 30% 25% 25% 26% 31% 24% 18% 24% 23% 21%
278 133 250 336 211 248 161 431 333 448 533 248
Interest 47 40 21 14 11 9 10 8 46 110 125 131
Depreciation 240 282 304 311 333 368 406 444 557 644 674 764
Profit before tax 728 665 1,056 1,118 1,183 1,123 1,531 1,954 1,451 1,899 2,156 1,617
Tax % 33% 34% 32% 34% 34% 16% 25% 28% 26% 24% 24% 24%
489 439 716 739 782 945 1,155 1,411 1,079 1,438 1,628 1,222
EPS in Rs 25.29 22.69 37.02 38.24 40.45 48.88 59.77 72.97 55.80 74.36 84.23 63.20
Dividend Payout % 5% 12% 11% 21% 20% 41% 28% 38% 29% 22% 19% 25%
Compounded Sales Growth
10 Years: 13%
5 Years: 13%
3 Years: 3%
TTM: 4%
Compounded Profit Growth
10 Years: 9%
5 Years: -2%
3 Years: -1%
TTM: -28%
Stock Price CAGR
10 Years: 21%
5 Years: -1%
3 Years: -2%
1 Year: -17%
Return on Equity
10 Years: 16%
5 Years: 14%
3 Years: 13%
Last Year: 9%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 19 19 19 39 39 39 39 39 39 39 39 39
Reserves 2,272 2,762 3,532 4,057 4,640 4,989 5,969 6,886 7,550 8,823 10,345 10,928
2,358 1,880 1,361 835 830 863 894 2,443 3,254 3,037 3,214 4,051
665 720 843 914 921 840 1,139 1,490 1,429 1,706 1,962 2,695
Total Liabilities 5,315 5,382 5,756 5,845 6,430 6,731 8,040 10,857 12,272 13,605 15,560 17,713
2,415 2,858 2,849 2,849 2,786 3,277 3,334 3,986 5,349 6,284 6,913 7,374
CWIP 634 231 110 118 585 586 856 1,258 1,392 944 985 2,472
Investments 445 866 1,350 1,103 1,083 1,063 1,418 1,897 2,037 2,686 3,265 3,125
1,821 1,426 1,448 1,774 1,975 1,806 2,432 3,715 3,494 3,690 4,396 4,742
Total Assets 5,315 5,382 5,756 5,845 6,430 6,731 8,040 10,857 12,272 13,605 15,560 17,713

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
979 1,095 842 753 813 1,164 1,363 881 1,414 2,052 1,753 2,224
-428 -569 -534 -92 -621 -656 -1,158 -1,889 -1,772 -1,468 -1,477 -2,504
-130 -656 -616 -655 -173 -521 -194 1,003 359 -568 -268 251
Net Cash Flow 421 -129 -308 6 19 -13 11 -5 1 17 9 -30
Free Cash Flow 613 857 681 342 93 403 455 -699 -327 977 308 -756
CFO/OP 162% 155% 102% 103% 93% 116% 96% 68% 102% 112% 92% 115%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 58 43 40 41 40 50 46 48 47 61 56 55
Inventory Days 73 100 106 101 106 100 144 158 117 104 124 119
Days Payable 70 87 84 67 53 62 100 78 36 64 54 64
Cash Conversion Cycle 61 56 63 75 92 87 90 129 128 100 126 110
Working Capital Days -22 -61 -36 7 16 1 11 -2 -7 -15 -14 -42
ROCE % 17% 15% 20% 22% 22% 19% 23% 23% 14% 16% 16% 11%

Insights

In beta
Mar 2016 Feb 2018 Feb 2019 Mar 2020 Nov 2021 Feb 2023 Jan 2025 May 2026
OHT Sales Volume
MT

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Tire Manufacturing Capacity (Achievable)
MTPA
Number of Countries Served
count
Number of SKUs (Product Portfolio)
count
Carbon Black Manufacturing Capacity
MTPA
Europe Share of OHT Sales (Geography Mix)
%
Replacement Channel Share of OHT Sales
%
India Share of OHT Sales (Geography Mix)
%

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Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
58.30% 58.30% 58.30% 58.30% 58.30% 58.30% 58.30% 58.30% 58.30% 58.30% 58.30% 58.30%
12.40% 12.53% 12.69% 12.24% 12.61% 11.72% 11.28% 11.46% 10.50% 10.70% 11.00% 11.13%
20.90% 21.11% 21.32% 21.97% 22.29% 23.31% 23.81% 23.63% 24.71% 24.55% 24.42% 24.25%
0.10% 0.10% 0.10% 0.11% 0.15% 0.15% 0.15% 0.15% 0.14% 0.14% 0.00% 0.00%
8.30% 7.94% 7.59% 7.38% 6.65% 6.52% 6.46% 6.46% 6.37% 6.31% 6.29% 6.32%
No. of Shareholders 1,40,4901,36,2141,25,3411,34,8311,23,4351,24,3881,18,9661,23,7551,27,4011,23,4061,23,3371,20,740

* 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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