Balkrishna Industries Ltd
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]
- Market Cap ₹ 43,896 Cr.
- Current Price ₹ 2,271
- High / Low ₹ 2,796 / 1,909
- Stock P/E 36.2
- Book Value ₹ 426
- Dividend Yield 0.71 %
- ROCE 14.2 %
- ROE 14.2 %
- Face Value ₹ 2.00
Pros
- Company has been maintaining a healthy dividend payout of 31.8%
Cons
* 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.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2,819 | 3,189 | 3,575 | 3,776 | 3,220 | 3,728 | 4,447 | 5,244 | 4,782 | 5,758 | 8,267 | 9,811 | 8,943 | |
2,313 | 2,525 | 2,681 | 3,040 | 2,365 | 2,596 | 3,340 | 3,929 | 3,530 | 3,971 | 6,291 | 8,090 | 6,934 | |
Operating Profit | 506 | 665 | 894 | 736 | 855 | 1,132 | 1,108 | 1,315 | 1,252 | 1,786 | 1,976 | 1,721 | 2,010 |
OPM % | 18% | 21% | 25% | 19% | 27% | 30% | 25% | 25% | 26% | 31% | 24% | 18% | 22% |
3 | 4 | 14 | 278 | 133 | 250 | 336 | 211 | 248 | 161 | 431 | 333 | 331 | |
Interest | 28 | 26 | 25 | 47 | 40 | 21 | 14 | 11 | 9 | 10 | 8 | 46 | 104 |
Depreciation | 83 | 108 | 165 | 240 | 282 | 304 | 311 | 333 | 368 | 406 | 444 | 557 | 623 |
Profit before tax | 398 | 535 | 718 | 728 | 665 | 1,056 | 1,118 | 1,183 | 1,123 | 1,531 | 1,954 | 1,451 | 1,614 |
Tax % | 33% | 34% | 32% | 33% | 34% | 32% | 34% | 34% | 16% | 25% | 28% | 26% | |
269 | 356 | 488 | 489 | 439 | 716 | 739 | 782 | 945 | 1,155 | 1,411 | 1,079 | 1,212 | |
EPS in Rs | 13.89 | 18.41 | 25.26 | 25.29 | 22.69 | 37.02 | 38.24 | 40.45 | 48.88 | 59.77 | 72.97 | 55.80 | 62.71 |
Dividend Payout % | 5% | 4% | 4% | 5% | 12% | 11% | 21% | 20% | 41% | 28% | 38% | 29% |
Compounded Sales Growth | |
---|---|
10 Years: | 12% |
5 Years: | 17% |
3 Years: | 27% |
TTM: | -9% |
Compounded Profit Growth | |
---|---|
10 Years: | 11% |
5 Years: | 8% |
3 Years: | 5% |
TTM: | 1% |
Stock Price CAGR | |
---|---|
10 Years: | 26% |
5 Years: | 20% |
3 Years: | 12% |
1 Year: | 15% |
Return on Equity | |
---|---|
10 Years: | 19% |
5 Years: | 18% |
3 Years: | 18% |
Last Year: | 14% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 19 | 19 | 19 | 19 | 19 | 19 | 39 | 39 | 39 | 39 | 39 | 39 | 39 |
Reserves | 1,061 | 1,400 | 1,865 | 2,272 | 2,762 | 3,532 | 4,057 | 4,640 | 4,989 | 5,969 | 6,886 | 7,550 | 8,191 |
1,673 | 2,074 | 2,350 | 2,358 | 1,880 | 1,361 | 835 | 830 | 863 | 894 | 2,443 | 3,254 | 2,833 | |
362 | 495 | 639 | 665 | 720 | 843 | 914 | 921 | 840 | 1,139 | 1,490 | 1,429 | 1,416 | |
Total Liabilities | 3,116 | 3,989 | 4,874 | 5,315 | 5,382 | 5,756 | 5,845 | 6,430 | 6,731 | 8,040 | 10,857 | 12,272 | 12,478 |
828 | 1,278 | 2,329 | 2,415 | 2,858 | 2,849 | 2,849 | 2,786 | 3,277 | 3,334 | 3,986 | 5,349 | 5,694 | |
CWIP | 450 | 946 | 476 | 634 | 231 | 110 | 118 | 585 | 586 | 856 | 1,258 | 1,392 | 1,318 |
Investments | 32 | 33 | 427 | 445 | 866 | 1,350 | 1,103 | 1,083 | 1,063 | 1,418 | 1,897 | 2,037 | 2,243 |
1,805 | 1,733 | 1,642 | 1,821 | 1,426 | 1,448 | 1,774 | 1,975 | 1,806 | 2,432 | 3,715 | 3,494 | 3,223 | |
Total Assets | 3,116 | 3,989 | 4,874 | 5,315 | 5,382 | 5,756 | 5,845 | 6,430 | 6,731 | 8,040 | 10,857 | 12,272 | 12,478 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
74 | 550 | 594 | 979 | 1,095 | 842 | 753 | 813 | 1,164 | 1,363 | 881 | 1,414 | |
-677 | -959 | -1,241 | -428 | -569 | -534 | -92 | -621 | -656 | -1,158 | -1,889 | -1,772 | |
950 | 318 | 390 | -130 | -656 | -616 | -655 | -173 | -521 | -194 | 1,003 | 359 | |
Net Cash Flow | 346 | -91 | -257 | 421 | -129 | -308 | 6 | 19 | -13 | 11 | -5 | 1 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 62 | 58 | 63 | 58 | 43 | 40 | 41 | 40 | 50 | 46 | 48 | 47 |
Inventory Days | 103 | 88 | 112 | 73 | 100 | 106 | 101 | 106 | 100 | 144 | 158 | 117 |
Days Payable | 43 | 49 | 79 | 70 | 87 | 84 | 67 | 53 | 62 | 100 | 78 | 36 |
Cash Conversion Cycle | 122 | 97 | 96 | 61 | 56 | 63 | 75 | 92 | 87 | 90 | 129 | 128 |
Working Capital Days | 117 | 100 | 97 | 40 | -10 | 18 | 58 | 74 | 67 | 67 | 84 | 76 |
ROCE % | 20% | 18% | 19% | 17% | 15% | 20% | 22% | 22% | 19% | 23% | 23% | 14% |
Documents
Announcements
- Intimation Under Regulation 30 Of The SEBI (LODR), Regulations, 2015 ('The Listing Regulations') - Update To Intimation Dated March 13, 2024 17h
- Intimation Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 13 Mar
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 15 Feb
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 1 Feb
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
29 Jan - Transcript of conference call with Investors/Analysts on Q3 & 9M FY Results of the Company held on 25th January, 2024.
Annual reports
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Financial Year 2023
from bse
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
from bse
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Financial Year 2014
from bse
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Financial Year 2013
from nse
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Financial Year 2013
from bse
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Financial Year 2012
from bse
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Financial Year 2011
from bse
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Financial Year 2011
from nse
Concalls
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Jan 2024Transcript PPT
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Oct 2023Transcript PPT
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Aug 2023Transcript PPT
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Jun 2023Transcript PPT
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Feb 2023Transcript PPT REC
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Nov 2022TranscriptNotesPPT
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Aug 2022TranscriptNotesPPT
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May 2022TranscriptNotesPPT
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Feb 2022TranscriptNotesPPT
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Nov 2021TranscriptNotesPPT
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Aug 2021Transcript PPT
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May 2021Transcript PPT
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Feb 2021TranscriptNotesPPT
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Nov 2020TranscriptNotesPPT
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Aug 2020TranscriptNotesPPT
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Jun 2020TranscriptNotesPPT
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Feb 2020TranscriptNotesPPT
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Nov 2019TranscriptNotesPPT
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Aug 2019TranscriptNotesPPT
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Aug 2019TranscriptNotesPPT
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May 2019TranscriptNotesPPT
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May 2019TranscriptNotesPPT
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Feb 2019TranscriptNotesPPT
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Nov 2018TranscriptNotesPPT
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Aug 2018TranscriptNotesPPT
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May 2018TranscriptNotesPPT
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Feb 2018TranscriptNotesPPT
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Nov 2017TranscriptNotesPPT
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Jul 2017TranscriptNotesPPT
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May 2017TranscriptNotesPPT
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May 2016TranscriptNotesPPT
Global Presence
BKT is India’s Leading player in the Global ‘Off Highway Tire (OHT)’ Market.[1] Company sells its tyres in 160+ countries through its distribution network in Europe, America, Australia. [2]It received 46% of its sales from Europe, followed by India (22%), Americas (20%) & Rest of World (12%).[3]