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Balkrishna Industries Ltd (BALKRISIND)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 502355 NSE: BALKRISIND Tyres & Allied | Mid Cap | Balkrishna Inds. Share Price

₹2,475.50 169.40 (7.35%)

As on 31-Jul'26 16:59

Balkrishna Industries Ltd (BALKRISIND)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 502355 NSE: BALKRISIND Tyres & Allied | Mid Cap | Balkrishna Inds. Share Price

₹2,475.50 169.40 (7.35%)

As on 31-Jul'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹47,856 Cr.
Current Price
₹2,475.5
52-Week Low / High
₹1,972 / 2,775
TTM EPS
₹70.7
TTM Sales
₹11,504 Cr.
Book Value per Share
₹589.6
P/E Ratio
35.01
In line with its 5-year historical median
Industry PE
22.4
Price to Book (P/B)
4.20
Lower than its 5-year historical median
Price to Sales (P/S)
4.16
Lower than its 5-year historical median
EV/EBITDA
19.03
In line with its 5-year historical median
Dividend Yield
0.65%
Profitability Efficiency
Return on Equity (ROE)
11.45%
Underperforms industry median
Return on Capital Employed (ROCE)
12.22%
Underperforms industry median
Return on Assets (ROA)
7.34%
Operating Profit Margin
23.6%
Net Profit Margin
11.29%
Gross Profit Margin
22%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
3.91%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-6.49%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
-24.96%
Asset Quality
Promoter Holding
58.29%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹11,360 Cr.
Equity
₹38.7 Cr.
Face Value
₹2
All Time Low / High
₹0.58 / 3377.95

Balkrishna Industries stock performance

Key Ratios
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Quality

Very Good
Check detailed performance

Valuation

Fair

Check Valuation charts

Price Trend

Strong
Check Price chart
Q.1 Is Balkrishna Industries Ltd a good quality company?
Balkrishna Industries Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

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We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

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How does Balkrishna Industries Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Balkrishna Industries Ltd vs industry peers?
Balkrishna Industries Ltd revenue CAGR is 13.45%, compared to the industry median CAGR of 13.73%, indicating stable growth and maintaining its market share.
Q.1 Promoter shareholding and pledge status of Balkrishna Industries Ltd?
Promoters hold 58.29% of the Balkrishna Industries Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Balkrishna Industries Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 21.1% based on the current price.
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DeciZen - make an informed investing decision on Balkrishna Inds.

Decision Maker
Standalone basis

1. Right Stock

10 Year X-ray Pro
Long Term Prospect

2. Right Price

Right Price
Price Chart

3. Right Time ⓘ

Right Price
#Likely Future 5 Year CAGR.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Balkrishna Industries Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % ⓘ22.5%23%22.9%19.9%24.1%24.1%14.8%17.7%17.9%12.2%-
Value Creation
Index ⓘ		0.71.10.70.81.11.10.30.60.60.1-

Growth Parameters ⓘ
Sales ⓘ3,7284,4475,2454,7825,7588,2679,8119,29910,41310,82011,504
Sales YoY Gr.-19.3%17.9%-8.8%20.4%43.6%18.7%-5.2%12%3.9%-
Adj EPS ⓘ28.626.633.541.855.959.845.960.870.568.970.7
YoY Gr.--7.2%26%24.8%33.6%7%-23.2%32.5%15.9%-2.2%-
BVPS (₹) ⓘ183.7211.9242260.1310.8358.2392.6458.5537.2567.3589.6
Adj Net
Profit ⓘ		5545146488081,0801,1568881,1761,3621,3321,367
Cash Flow from Ops. ⓘ8427538131,1641,3638811,4142,0521,7532,224-
Debt/CF from Ops. ⓘ1.61.110.70.72.82.31.51.81.8-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘ12.6%13.5%3.3%3.9%
Adj EPS ⓘ10.3%4.3%14.5%-2.2%
BVPSⓘ13.4%12.8%13.1%5.6%
Share Price 21.2% -0.2% 0.1% -4.1%

Key Financial Parameters ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity % ⓘ		17.513.414.816.719.617.912.214.314.212.512.2
Op. Profit
Mgn % ⓘ		30.424.925.126.23123.917.623.723.323.621.6
Net Profit
Mgn % ⓘ		14.911.612.416.918.8149.112.713.112.311.9
Debt to
Equity ⓘ		0.40.20.20.20.20.40.40.30.30.4-
Working Cap
Days ⓘ		12313012814013113413313914015286
Cash Conv.
Cycle ⓘ		334150615058768074772

Valuation of Balkrishna Inds. - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales3,7284,4475,2454,7825,7588,2679,8119,29910,41310,820
Operating Expenses ⓘ + 2,5963,3403,9323,6483,9726,2918,1127,0947,9928,556
Manufacturing Costs366484549451558746874946947920
Material Costs1,5822,1502,4632,1272,3033,7794,9564,4745,0635,249
Employee Cost 224249264286326380404441494522
Other Costs ⓘ 4234576567857851,3861,8781,2321,4881,865
Operating Profit ⓘ 1,1321,1081,3121,1341,7861,9761,6982,2042,4212,263
Operating Profit Margin (%) 30.4%24.9%25.0%23.7%31.0%23.9%17.3%23.7%23.2%20.9%
Other Income ⓘ + 250336214366161431355448535248
Exceptional Items ⓘ 0000000000
Interest ⓘ 211411910846110125131
Depreciation ⓘ 304311333368406444557644674764
Profit Before Tax ⓘ 1,0561,1181,1831,1231,5311,9541,4511,8992,1561,617
Tax ⓘ 341379401178376544372461528395
Profit After Tax 7167397829451,1551,4111,0791,4381,6281,222
PAT Margin (%) 19.2%16.6%14.9%19.8%20.1%17.1%11.0%15.5%15.6%11.3%
Adjusted EPS (₹)37.038.240.548.959.873.055.874.484.263.2
Dividend Payout Ratio (%)10.80%20.90%19.80%40.90%28.40%38.40%28.70%21.50%19%25.30%
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 3,5514,0954,6795,0286,0076,9257,5898,86210,38410,966
Share Capital ⓘ 19393939393939393939
Reserves ⓘ 3,5324,0574,6404,9895,9696,8867,5508,82310,34510,928
Debt +7676198298618932,4423,2542,6872,8783,613
Long Term Debt21932215011,038691387888
Short Term Debt5486168278598921,9412,2151,9952,4902,725
Minority Interest0000000000
Trade Payables363397357361633808487791746918
Others Liabilities ⓘ 1,0747345654815066839431,2661,5532,215
Total Liabilities ⓘ 5,7565,8456,4306,7318,04010,85712,27213,60515,56017,713

Fixed Assets

Net Fixed Assets ⓘ +2,7972,7712,7093,1913,2483,9075,2786,2206,8527,318
Gross Block3,3853,6663,9354,7835,2436,3448,2469,82511,12212,358
Accumulated Depreciation5888961,2261,5921,9962,4372,9673,6064,2705,040
CWIP ⓘ 1101185855868561,2581,3929449852,472
Investments ⓘ 1,3501,1031,0831,0631,4181,8972,0372,6863,2653,125
Inventories4605947135809091,6391,5921,2711,7161,714
Trade Receivables4125025686497301,0981,2541,5431,6111,622
Cash Equivalents 14255646543538536330
Others Assets ⓘ 6147327166168251,0226818881,0681,431
Total Assets ⓘ 5,7565,8456,4306,7318,04010,85712,27213,60515,56017,713
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity ⓘ + 8427538131,1641,3638811,4142,0521,7532,224
PBT ⓘ 1,0561,1181,1831,1231,5311,9541,4511,8992,1561,617
Adjustment ⓘ 215241255279258209545408514828
Changes in Working Capital ⓘ -113-215-21257-77-825-244163-438165
Tax Paid ⓘ -313-386-407-286-349-457-338-418-479-386
Cash Flow From Investing Activity ⓘ + -534-92-621-656-1,159-1,889-1,772-1,468-1,477-2,504
Capex -161-411-720-761-908-1,580-1,741-1,075-1,446-2,980
Net Investments -4043058886-289-352-88-457-176363
Others ⓘ 3214112039435765145112
Cash Flow From Financing Activity ⓘ + -616-655-173-521-1941,003359-568-268251
Net Proceeds from Shares ⓘ 0000000000
Net Proceeds from Borrowing ⓘ -610-487-116-2391831,664385146-1,1801,268
Interest Paid ⓘ -22-13-10-7-10-8-40-98-110-106
Dividend Paid ⓘ -64-121-174-513-232-560-309-309-310-309
Others ⓘ 80-34128238-136-93323-3071,332-602
Net Cash Flow ⓘ -308619-1310-51179-30
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)22.619.3417.8319.4720.9421.8214.8617.4816.9211.45
ROCE (%)22.5123.0122.8819.8624.124.1314.8217.6617.912.22
Asset Turnover Ratio0.680.770.850.730.780.880.850.720.710.65
PAT to CFO Conversion(x)1.181.021.041.231.180.621.311.431.081.82
Working Capital Days
Receivable Days38.2037.4037.2046.5043.7040.3043.7054.8055.2054.40
Inventory Days40.9043.1045.5049.4047.2056.2060.1056.1052.3057.80
Payable Days80.7064.6055.9061.6078.8069.6047.7052.1055.4057.80

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Balkrishna Industries Ltd FAQs

The current trading price of Balkrishna Inds. on 31-Jul-2026 16:59 is ₹2,475.5.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 30-Jul-2026 the market cap of Balkrishna Inds. stood at ₹47,855.7 Cr

The latest P/E ratio of Balkrishna Inds. as of 30-Jul-2026 is 35.01.

The latest P/B ratio of Balkrishna Inds. as of 30-Jul-2026 is 4.20.

The 52-week high of Balkrishna Inds. is ₹2,775 and the 52-week low is ₹1,971.5.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Balkrishna Inds. is ₹11,504 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Balkrishna Industries Ltd is a good quality company.

The key valuation ratios of Balkrishna Industries Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Balkrishna Industries Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Balkrishna Industries Ltd

Balkrishna Industries (BKT) is an Indian multinational company and a global specialist in the Off-Highway Tyre (OHT) industry. Over decades, BKT has built a strong position in highly specialized applications, supported by extensive technical expertise, advanced R&D and testing capabilities, reliable products, and a broad international and domestic distribution network. Off-Highway remains its core business and principal area of expertise. At the same time, the company is selectively expanding into India’s On-Highway Tyre market through two-wheeler tyres, Passenger Car Radial (PCR) tyres and Commercial Vehicle Radial (CVR) tyres.

Supported by in house carbon black production, the company retains greater control over quality and deliver products that offer consistent traction, reliability, and performance in demanding operating conditions. The company combines its strong manufacturing base in India with an international network of subsidiaries, distributors and commercial partners serving many countries. This integrated model enables it to help customers with technical support by leveraging its local market expertise, while ensuring consistent production, quality and supply.

Business area of the company

The company is engaged mainly in the business of manufacturing and selling of OHT in the specialist segments such as Agricultural, Industrial & Construction, Earthmovers & Port, Mining, Forestry, Lawn & Garden and All-Terrain Vehicles (ATV).

Products

Commercial tyres

  • Agriculture
  • Industrial & Construction
  • OTR
  • CVR

Consumer tyres

  • Scooter
  • Motorcycle

Awards and Recognitions

  • 2024: Bhiwadi Plant received QCFI Gold award 2024
  • 2024: Chopanki Plant received ICC Excellence in Sustainability Award 2024
  • 2024: BKT Bhuj Plant achieved Gold Medal in National Awards for Manufacturing Competitiveness 2024-25
  • 2024: Chopanki Plant received Gold Category for the prestigious GEEF Global Safety Award 2025 in the Rubber (Tire Manufacturing) Industry.
  • 2024: Bhuj Plant received the National Energy Conservation Award (NECA) 2024 – Certificate of Merit.
  • 2025: Achieved a five-star rating in the British Safety Council for Occupational Health and Safety system awarded with the ‘Sword of Honour 2025’
  • 2025: Certificate of Merit from the National Safety Council of India (Safety Awards 2025)
  • 2025: Safety and workplace excellence ‘Legend Emerging Award – Safety’ at Exceed Occupational Health, Safety & Security Awards 2025
  • 2025: Won the FAME Innovative Quality Leadership Award 2025 for best quality performance in manufacturing processes
  • 2025: CII National Award for Excellence in Water Management 2025
  • 2025: ASSOCHAM Water Award 2025 for water management and sustainability

Milestones/ History

  • 1987: First plant in Aurangabad inaugurated by Founder Chairman, Late Mahabirprasad Poddar
  • 1995: Commenced production of Off-Highway Tyres
  • 2002: Plant established in Bhiwadi, Rajasthan
  • 2003: Began production of ATV, gardening, and earthmoving tyres
  • 2004: Launched radial Agrimax tyres
  • 2006: Plant commissioned in Chopanki, Rajasthan
  • 2008: Launched Earthmax tyres
  • 2009: Crossed Rs 1,000 crore turnover
  • 2011: Redefined the brand through strategic rebranding
  • 2015: Initiated greenfield plant at Bhuj, Gujarat
  • 2018: Announced capex for Waluj, Bhuj facilities and Carbon black plant commissioned
  • 2020: Achieved Carbon Black self-reliance with Phase 2 completion at Bhuj
  • 2021: Commercialised new replacement plant: Waluj 2 plant
  • 2022: Commercialised brownfield tyre plant at Bhuj
  • 2023: Expanded Waluj capacity
  • 2024: Completed capex for Advanced Carbon materials
  • 2025: Announced capex for premium passenger car and commercial vehicle radial tyres
  • 2026: Expanding into new segments (2W, PCR and CVR)

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