Balkrishna Industries Ltd

Balkrishna Industries Ltd

₹ 3,241 1.58%
14 Jun - 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
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]

  • Market Cap 62,646 Cr.
  • Current Price 3,241
  • High / Low 3,284 / 2,194
  • Stock P/E 42.6
  • Book Value 458
  • Dividend Yield 0.49 %
  • ROCE 18.0 %
  • ROE 17.9 %
  • Face Value 2.00

Pros

  • Company has been maintaining a healthy dividend payout of 29.3%

Cons

  • Stock is trading at 7.08 times its book value

* 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

Loading peers table ...

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
1,753 1,803 2,072 2,046 2,374 2,619 2,658 2,166 2,317 2,159 2,253 2,274 2,682
1,203 1,292 1,534 1,589 1,871 2,175 2,231 1,896 1,837 1,658 1,720 1,734 2,001
Operating Profit 550 511 538 457 503 444 426 269 480 501 533 541 681
OPM % 31% 28% 26% 22% 21% 17% 16% 12% 21% 23% 24% 24% 25%
61 82 133 113 109 106 227 45 57 106 107 66 171
Interest 3 2 2 2 3 3 5 14 26 22 24 36 31
Depreciation 106 107 111 118 120 129 137 149 156 155 160 161 174
Profit before tax 503 484 558 450 490 417 511 151 355 430 456 409 647
Tax % 24% 32% 30% 25% 24% 26% 25% 28% 27% 23% 24% 25% 25%
380 331 391 339 375 307 382 108 260 332 347 305 487
EPS in Rs 19.65 17.10 20.23 17.53 19.39 15.88 19.77 5.61 13.44 17.17 17.97 15.80 25.18
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
3,390 3,768 3,813 3,237 3,723 4,444 5,210 4,811 5,783 8,295 9,760 9,369
2,721 2,878 3,086 2,371 2,592 3,341 3,904 3,537 3,972 6,286 8,047 7,114
Operating Profit 669 890 727 866 1,131 1,103 1,306 1,274 1,811 2,009 1,712 2,255
OPM % 20% 24% 19% 27% 30% 25% 25% 26% 31% 24% 18% 24%
5 14 277 131 254 340 215 250 171 438 342 449
Interest 28 27 48 40 22 15 12 11 12 9 48 113
Depreciation 112 170 244 282 304 311 333 374 416 455 571 651
Profit before tax 534 706 713 674 1,059 1,116 1,177 1,140 1,555 1,982 1,435 1,941
Tax % 34% 33% 34% 34% 32% 34% 34% 16% 24% 28% 26% 24%
350 475 473 446 717 736 774 960 1,178 1,435 1,057 1,471
EPS in Rs 18.10 24.55 24.45 23.06 37.08 38.06 40.02 49.64 60.91 74.25 54.70 76.12
Dividend Payout % 4% 4% 5% 12% 11% 21% 20% 40% 28% 38% 29% 21%
Compounded Sales Growth
10 Years: 10%
5 Years: 12%
3 Years: 17%
TTM: -4%
Compounded Profit Growth
10 Years: 12%
5 Years: 14%
3 Years: 8%
TTM: 47%
Stock Price CAGR
10 Years: 24%
5 Years: 34%
3 Years: 13%
1 Year: 37%
Return on Equity
10 Years: 18%
5 Years: 18%
3 Years: 18%
Last Year: 18%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 19 19 19 19 19 39 39 39 39 39 39 39
Reserves 1,424 1,876 2,257 2,756 3,524 4,045 4,615 4,970 5,961 6,894 7,518 8,815
2,164 2,439 2,358 1,898 1,391 867 871 932 1,001 2,529 3,347 3,099
544 688 685 725 855 927 954 866 1,166 1,517 1,444 1,731
Total Liabilities 4,151 5,021 5,318 5,398 5,789 5,878 6,479 6,806 8,166 10,979 12,348 13,685
1,335 2,389 2,415 2,859 2,849 2,849 2,786 3,308 3,370 4,019 5,384 6,317
CWIP 1,013 565 634 231 110 119 600 587 856 1,258 1,392 944
Investments 3 370 444 836 1,349 1,103 1,083 1,062 1,418 1,897 2,037 2,686
1,800 1,697 1,825 1,473 1,481 1,808 2,010 1,850 2,523 3,805 3,535 3,737
Total Assets 4,151 5,021 5,318 5,398 5,789 5,878 6,479 6,806 8,166 10,979 12,348 13,685

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
549 602 984 1,072 847 750 820 1,173 1,339 908 1,448 2,083
-1,011 -1,230 -435 -552 -563 -92 -636 -678 -1,173 -1,897 -1,783 -1,476
370 365 -130 -625 -589 -654 -165 -495 -158 980 359 -602
Net Cash Flow -92 -263 419 -105 -306 4 20 1 8 -9 23 5

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 56 59 56 43 40 39 36 45 48 48 42 56
Inventory Days 88 114 76 102 110 105 113 105 148 162 124 108
Days Payable 53 82 74 88 87 70 58 65 103 80 37 74
Cash Conversion Cycle 91 91 58 58 64 75 92 84 93 130 129 91
Working Capital Days 94 90 37 -8 19 76 74 66 70 86 76 129
ROCE % 17% 18% 17% 15% 20% 22% 22% 17% 24% 24% 14%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
58.30% 58.30% 58.29% 58.29% 58.29% 58.30% 58.30% 58.30% 58.30% 58.30% 58.30% 58.30%
15.18% 15.42% 15.07% 14.05% 14.30% 12.96% 12.45% 12.42% 12.40% 12.53% 12.69% 12.24%
14.09% 12.56% 11.59% 11.78% 11.17% 18.81% 20.12% 20.21% 20.90% 21.11% 21.32% 21.97%
0.00% 0.00% 0.00% 0.00% 0.00% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.11%
12.44% 13.73% 15.05% 15.87% 16.24% 9.84% 9.03% 8.99% 8.30% 7.94% 7.59% 7.38%
No. of Shareholders 82,0721,04,5261,27,8161,39,9131,35,3951,73,8021,58,2011,46,8041,40,4901,36,2141,25,3411,34,831

* 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

Concalls