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 ₹ 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
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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
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% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Newspaper Publication
19h - Newspaper advertisement of the Notice of Postal Ballot and Remote E-voting information published on 30th November, 2023 in the newspapers viz Business Standard and Lokmat.
- Shareholder Meeting / Postal Ballot-Notice of Postal Ballot 2d
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Announcement under Regulation 30 (LODR)-Change in Directorate
25 Nov - Based on recommendation of Nomination and Remuneration Committee the Board at its Meeting held on 25th November, 2023 has approved the following subject to approval …
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
3 Nov - Of Schedule of Analyst / Institutional Investor meetings under the SEBI (LODR), Regulations 2015.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
30 Oct - Transcript of Conference Call with Investors/Analysts conducted on 23rd October, 2023 to discuss the Q2 and H1 FY 24 Results.
Annual reports
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Financial Year 2023
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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
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2011
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Concalls
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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
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Nov 2022TranscriptNotesPPT
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Nov 2021TranscriptNotesPPT
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Nov 2020TranscriptNotesPPT
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Jun 2020TranscriptNotesPPT
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Feb 2020TranscriptNotesPPT
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Nov 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]