Balkrishna Industries Ltd

₹ 2,300 0.39%
06 Feb - close price
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

Global Presence
Company sells its tyres in 160+ countries through its distribution network in Americas, Europe, India & ROW. [1] It receives 49% of its sales from Europe, followed by India (23%), Americas (15%) & Rest of World (13%). [2]

  • Market Cap 44,470 Cr.
  • Current Price 2,300
  • High / Low 2,451 / 1,682
  • Stock P/E 31.2
  • Book Value 395
  • Dividend Yield 0.70 %
  • ROCE 22.6 %
  • ROE 20.3 %
  • Face Value 2.00

Pros

  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 35.9%

Cons

  • Company might be capitalizing the interest cost

* 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

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
1,071 1,160 1,357 929 1,579 1,505 1,746 1,813 2,050 2,030 2,374 2,646 2,704
804 819 985 698 1,042 1,028 1,204 1,300 1,530 1,587 1,874 2,191 2,260
Operating Profit 267 341 373 231 537 476 542 513 520 443 500 455 445
OPM % 25% 29% 27% 25% 34% 32% 31% 28% 25% 22% 21% 17% 16%
81 30 66 33 18 51 58 78 133 112 108 102 226
Interest 2 2 2 2 3 2 2 2 2 2 2 3 4
Depreciation 91 95 98 100 101 102 103 104 108 115 117 126 134
Profit before tax 256 275 339 162 451 424 495 485 543 439 488 429 532
Tax % -14% 20% 24% 25% 25% 24% 25% 32% 30% 25% 23% 25% 24%
Net Profit 291 221 257 122 339 322 372 331 377 329 374 320 404
EPS in Rs 15.05 11.42 13.31 6.30 17.56 16.65 19.25 17.13 19.51 17.00 19.33 16.54 20.89
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
1,934 2,819 3,189 3,575 3,776 3,220 3,728 4,447 5,244 4,782 5,758 8,267 9,754
1,655 2,313 2,525 2,681 3,040 2,365 2,596 3,340 3,929 3,530 3,971 6,291 7,911
Operating Profit 279 506 665 894 736 855 1,132 1,108 1,315 1,252 1,786 1,976 1,843
OPM % 14% 18% 21% 25% 19% 27% 30% 25% 25% 26% 31% 24% 19%
91 3 4 14 278 133 250 336 211 248 161 431 548
Interest 21 28 26 25 47 40 21 14 11 9 10 8 11
Depreciation 74 83 108 165 240 282 304 311 333 368 406 444 491
Profit before tax 275 398 535 718 728 665 1,056 1,118 1,183 1,123 1,531 1,954 1,888
Tax % 33% 33% 34% 32% 33% 34% 32% 34% 34% 16% 25% 28%
Net Profit 186 269 356 488 489 439 716 739 782 945 1,155 1,411 1,426
EPS in Rs 9.60 13.89 18.41 25.26 25.29 22.69 37.02 38.24 40.45 48.88 59.77 72.97 73.76
Dividend Payout % 7% 5% 4% 4% 5% 12% 11% 21% 20% 41% 28% 38%
Compounded Sales Growth
10 Years: 11%
5 Years: 17%
3 Years: 16%
TTM: 37%
Compounded Profit Growth
10 Years: 17%
5 Years: 15%
3 Years: 21%
TTM: 2%
Stock Price CAGR
10 Years: 32%
5 Years: 15%
3 Years: 28%
1 Year: 2%
Return on Equity
10 Years: 20%
5 Years: 19%
3 Years: 20%
Last Year: 20%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
19 19 19 19 19 19 19 39 39 39 39 39 39
Reserves 812 1,061 1,400 1,865 2,272 2,762 3,532 4,057 4,640 4,989 5,969 6,886 7,591
607 1,673 2,074 2,350 2,358 1,880 1,361 835 830 863 894 2,443 3,090
659 362 495 639 665 720 843 914 921 840 1,139 1,490 1,590
Total Liabilities 2,098 3,116 3,989 4,874 5,315 5,382 5,756 5,845 6,430 6,731 8,040 10,857 12,310
687 828 1,278 2,329 2,415 2,858 2,849 2,849 2,786 3,277 3,334 3,986 4,716
CWIP 44 450 946 476 634 231 110 118 585 586 856 1,258 1,281
Investments 32 32 33 427 445 866 1,350 1,103 1,083 1,063 1,418 1,897 1,865
1,334 1,805 1,733 1,642 1,821 1,426 1,448 1,774 1,975 1,806 2,432 3,715 4,449
Total Assets 2,098 3,116 3,989 4,874 5,315 5,382 5,756 5,845 6,430 6,731 8,040 10,857 12,310

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
59 74 550 594 979 1,095 842 753 813 1,164 1,363 881
-158 -677 -959 -1,241 -428 -569 -534 -92 -621 -656 -1,158 -1,889
105 950 318 390 -130 -656 -616 -655 -173 -521 -194 1,003
Net Cash Flow 7 346 -91 -257 421 -129 -308 6 19 -13 11 -5

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 61 62 58 63 58 43 40 41 40 50 46 48
Inventory Days 122 103 88 112 73 100 106 101 106 100 144 158
Days Payable 34 43 49 79 70 87 84 67 53 62 100 78
Cash Conversion Cycle 149 122 97 96 61 56 63 75 92 87 90 129
Working Capital Days 116 117 100 97 40 -10 18 58 74 67 67 84
ROCE % 23% 20% 18% 19% 17% 15% 20% 22% 22% 19% 23% 23%

Shareholding Pattern

Numbers in percentages

2 recently
Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
58.30 58.30 58.30 58.30 58.30 58.30 58.30 58.29 58.29 58.29 58.30 58.30
11.93 12.99 11.52 15.54 14.40 15.18 15.42 15.07 14.05 14.30 12.96 12.45
17.80 17.78 18.97 14.96 14.60 14.09 12.56 11.59 11.78 11.17 18.81 20.12
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.10 0.10
11.97 10.94 11.21 11.20 12.71 12.44 13.73 15.05 15.87 16.24 9.84 9.03

* 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.

Click on the line-items to see the names of individual entities.

Documents

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