Balkrishna Industries Ltd

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

Balkrishna Industries Ltd

₹ 2,557 -0.77%
01 Dec 1:01 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

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]

Website BSE NSE
  • Market Cap ₹ 49,423 Cr.
  • Current Price ₹ 2,557
  • High / Low ₹ 2,683 / 1,909
  • Stock P/E 47.2
  • Book Value ₹ 425
  • Dividend Yield 0.62 %
  • ROCE 13.8 %
  • ROE 13.8 %
  • Face Value ₹ 2.00
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Pros

  • Company has been maintaining a healthy dividend payout of 31.6%

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.

Peer comparison

Sector: Tyres Industry: Tyres

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023
1,578 1,509 1,753 1,803 2,072 2,046 2,374 2,619 2,658 2,166 2,317 2,159 2,253
1,038 1,030 1,203 1,292 1,534 1,589 1,871 2,175 2,231 1,896 1,837 1,658 1,720
Operating Profit 540 480 550 511 538 457 503 444 426 269 480 501 533
OPM % 34% 32% 31% 28% 26% 22% 21% 17% 16% 12% 21% 23% 24%
20 55 61 82 133 113 109 106 227 45 57 106 107
Interest 4 2 3 2 2 2 3 3 5 14 26 22 24
Depreciation 104 105 106 107 111 118 120 129 137 149 156 155 160
Profit before tax 452 428 503 484 558 450 490 417 511 151 355 430 456
Tax % 25% 24% 24% 32% 30% 25% 24% 26% 25% 28% 27% 23% 24%
341 325 380 331 391 339 375 307 382 108 260 332 347
EPS in Rs 17.64 16.82 19.65 17.10 20.23 17.53 19.39 15.88 19.77 5.61 13.44 17.17 17.97
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
3,014 3,390 3,768 3,813 3,237 3,723 4,444 5,210 4,811 5,783 8,295 9,760 8,895
2,502 2,721 2,878 3,086 2,371 2,592 3,341 3,904 3,537 3,972 6,286 8,047 7,112
Operating Profit 512 669 890 727 866 1,131 1,103 1,306 1,274 1,811 2,009 1,712 1,783
OPM % 17% 20% 24% 19% 27% 30% 25% 25% 26% 31% 24% 18% 20%
4 5 14 277 131 254 340 215 250 171 438 342 315
Interest 29 28 27 48 40 22 15 12 11 12 9 48 86
Depreciation 86 112 170 244 282 304 311 333 374 416 455 571 620
Profit before tax 400 534 706 713 674 1,059 1,116 1,177 1,140 1,555 1,982 1,435 1,392
Tax % 33% 34% 33% 34% 34% 32% 34% 34% 16% 24% 28% 26%
269 350 475 473 446 717 736 774 960 1,178 1,435 1,057 1,048
EPS in Rs 13.91 18.10 24.55 24.45 23.06 37.08 38.06 40.02 49.64 60.91 74.25 54.70 54.19
Dividend Payout % 5% 4% 4% 5% 12% 11% 21% 20% 40% 28% 38% 29%
Compounded Sales Growth
10 Years: 11%
5 Years: 17%
3 Years: 27%
TTM: -8%
Compounded Profit Growth
10 Years: 11%
5 Years: 7%
3 Years: 7%
TTM: -25%
Stock Price CAGR
10 Years: 34%
5 Years: 22%
3 Years: 16%
1 Year: 25%
Return on Equity
10 Years: 19%
5 Years: 18%
3 Years: 19%
Last Year: 14%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 1,091 1,424 1,876 2,257 2,756 3,524 4,045 4,615 4,970 5,961 6,894 7,518 8,186
1,709 2,164 2,439 2,358 1,898 1,391 867 871 932 1,001 2,529 3,347 2,916
392 544 688 685 725 855 927 954 866 1,166 1,517 1,444 1,434
Total Liabilities 3,212 4,151 5,021 5,318 5,398 5,789 5,878 6,479 6,806 8,166 10,979 12,348 12,575
873 1,335 2,389 2,415 2,859 2,849 2,849 2,786 3,308 3,370 4,019 5,384 5,730
CWIP 477 1,013 565 634 231 110 119 600 587 856 1,258 1,392 1,318
Investments 2 3 370 444 836 1,349 1,103 1,083 1,062 1,418 1,897 2,037 2,242
1,859 1,800 1,697 1,825 1,473 1,481 1,808 2,010 1,850 2,523 3,805 3,535 3,285
Total Assets 3,212 4,151 5,021 5,318 5,398 5,789 5,878 6,479 6,806 8,166 10,979 12,348 12,575

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
76 549 602 984 1,072 847 750 820 1,173 1,339 908 1,448
-688 -1,011 -1,230 -435 -552 -563 -92 -636 -678 -1,173 -1,897 -1,783
970 370 365 -130 -625 -589 -654 -165 -495 -158 980 359
Net Cash Flow 358 -92 -263 419 -105 -306 4 20 1 8 -9 23

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 59 56 59 56 43 40 39 36 45 48 48 42
Inventory Days 100 88 114 76 102 110 105 113 105 148 162 124
Days Payable 44 53 82 74 88 87 70 58 65 103 80 37
Cash Conversion Cycle 115 91 91 58 58 64 75 92 84 93 130 129
Working Capital Days 110 94 90 37 -8 19 76 74 66 70 86 76
ROCE % 20% 17% 18% 17% 15% 20% 22% 22% 17% 24% 24% 14%

Shareholding Pattern

Numbers in percentages

Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
58.30% 58.30% 58.30% 58.30% 58.29% 58.29% 58.29% 58.30% 58.30% 58.30% 58.30% 58.30%
15.54% 14.40% 15.18% 15.42% 15.07% 14.05% 14.30% 12.96% 12.45% 12.42% 12.40% 12.53%
14.96% 14.60% 14.09% 12.56% 11.59% 11.78% 11.17% 18.81% 20.12% 20.21% 20.90% 21.11%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.10% 0.10% 0.10% 0.10% 0.10%
11.20% 12.71% 12.44% 13.73% 15.05% 15.87% 16.24% 9.84% 9.03% 8.99% 8.30% 7.94%
No. of Shareholders 70,40394,37182,0721,04,5261,27,8161,39,9131,35,3951,73,8021,58,2011,46,8041,40,4901,36,214

* 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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