Is Balkrishna Industries a good quality company?

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

Is Balkrishna Industries undervalued or overvalued?

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

What is Balkrishna Industries share price return in the past 10 years?

Balkrishna Industries Ltd share price has appreciated 25% annually (CAGR) over the past ten years.

Is Balkrishna Industries a good buy now?

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

What is the P/E ratio of Balkrishna Industries?

The latest standalone P/E ratio of Balkrishna Industries as of 16-Apr-2024 is 37.51.

What is the P/B ratio of Balkrishna Industries?

The latest standalone P/B ratio of Balkrishna Industries as of 16-Apr-2024 is 5.33.

What is the 52-week high and low of Balkrishna Industries?

The 52-week high of Balkrishna Industries is Rs. 2793.70 and the 52-week low is Rs. 2015.20.

Balkrishna Industries Ltd - Stock Valuation and Financial Performance

Name: Balkrishna Industries
Brand: Balkrishna Industries

BSE: 502355 | NSE: BALKRISIND | Tyres & Allied | Mid Cap

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Balkrishna Inds. Share Price

₹2,353 -33.15 -1.39%
as on 16-Apr'24 16:01

10 Year X-Ray of Balkrishna Inds.:

Analysis of Financial Track Record

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

Standalone Basis ^P Consolidated Basis ^P

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

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	TTM
ROCE % ⓘ	14.8%	7.5%	8.6%	11.9%	10.6%	12.6%	14.3%	17%	14.5%	9.3%	-
Value Creation Index ⓘ	0.1	-0.4	-0.4	-0.1	-0.1	-0.1	0.3	0.5	0.3	-0.2	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	3,577	3,780	3,223	3,728	4,447	5,245	4,782	5,758	8,267	9,811	8,943
Sales YoY Gr.	-	5.7%	-14.8%	15.7%	19.3%	17.9%	-8.8%	20.4%	43.6%	18.7%	-
Adj EPS ⓘ	28.6	15.6	19.3	28.6	26.6	33.5	41.8	55.9	59.8	45.9	62.7
YoY Gr.	-	-45.4%	23.9%	48.2%	-7.2%	26%	24.8%	33.6%	7%	-23.2%	-
BVPS (₹) ⓘ	97.5	118.5	143.9	183.7	211.9	242	260.1	310.8	358.2	392.6	441.7
Adj Net Profit ⓘ	552	302	374	554	514	648	808	1,080	1,156	888	1,212
Cash Flow from Ops. ⓘ	594	979	1,095	842	753	813	1,164	1,363	881	1,414	-
Debt/CF from Ops. ⓘ	4	2.4	1.7	1.6	1.1	1	0.7	0.7	2.8	2.3	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	11.9%	17.1%	27.1%	18.7%
Adj EPS ⓘ	5.4%	11.6%	3.2%	-23.2%
BVPSⓘ	16.7%	13.1%	14.7%	9.6%
Share Price	25%	19.4%	11.7%	12.9%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	TTM
Return on Equity % ⓘ	33.4	14.4	14.7	17.5	13.4	14.8	16.7	19.6	17.9	12.2	15
Op. Profit Mgn % ⓘ	27.6	19.5	26.5	30.4	24.9	25.1	26.2	31	24.3	17.8	22.5
Net Profit Mgn % ⓘ	15.4	8	11.6	14.9	11.6	12.4	16.9	18.8	14	9.1	13.6
Debt to Equity ⓘ	1.3	1	0.7	0.4	0.2	0.2	0.2	0.2	0.4	0.4	-
Working Cap Days ⓘ	156	144	140	123	130	128	140	131	134	133	75
Cash Conv. Cycle ⓘ	64	59	47	33	41	50	61	50	58	76	14

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 27.06%

Return on Equity has declined versus last 3 years average to 15.00%

Net Profit has been subdued in last 3 years 3.17%

Sales growth is not so good in last 4 quarters at -8.38%

Latest Financials - Balkrishna Industries Ltd.

	Standalone	Consolidated
TTM EPS (₹)	62.7	64.4
TTM Sales (₹ Cr.)	8,943	9,004
BVPS (₹.) ⓘ	441.7	441.3
Reserves (₹ Cr.) ⓘ	8,500	8,492
P/BV ⓘ	5.33	5.33
PE ⓘ	37.51	36.54

From the Market
52 Week Low / High (₹)	2015.20 / 2793.70
All Time Low / High (₹)	0.58 / 2793.70
Market Cap (₹ Cr.)	45,478
Equity (₹ Cr.)	38.7
Face Value (₹)	2
Industry PE ⓘ	26.8

Management X-Ray of Balkrishna Inds.:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

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

Valuation of Balkrishna Inds.

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Price to Earnings

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Price to Sales

Dividend History

Analyst's Notes

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Key Ratios of Balkrishna Inds.

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23
Sales	3,577	3,780	3,223	3,728	4,447	5,245	4,782	5,758	8,267	9,811
Operating Expenses ⓘ	2,683	3,045	2,384	2,596	3,340	3,932	3,648	3,972	6,262	8,066
Manufacturing Costs	362	439	370	366	484	549	451	558	746	874
Material Costs	1,722	1,968	1,409	1,582	2,150	2,463	2,127	2,303	3,779	4,956
Employee Cost	139	194	206	224	249	264	286	326	380	404
Other Costs ⓘ	460	443	398	423	457	656	785	785	1,357	1,832
Operating Profit ⓘ	894	735	839	1,132	1,108	1,312	1,134	1,786	2,005	1,744
Operating Profit Margin (%)	25.0%	19.4%	26.0%	30.4%	24.9%	25.0%	23.7%	31.0%	24.2%	17.8%
Other Income ⓘ	14	280	149	250	336	214	366	161	431	338
Interest ⓘ	25	47	40	21	14	11	9	10	37	74
Depreciation ⓘ	165	240	282	304	311	333	368	406	444	557
Exceptional Items ⓘ	0	0	0	0	0	0	0	0	0	0
Profit Before Tax ⓘ	718	728	665	1,056	1,118	1,183	1,123	1,531	1,954	1,451
Tax ⓘ	229	239	227	341	379	401	178	376	544	372
Profit After Tax	488	489	439	716	739	782	945	1,155	1,411	1,079
PAT Margin (%)	13.7%	12.9%	13.6%	19.2%	16.6%	14.9%	19.8%	20.1%	17.1%	11.0%
Adjusted EPS (₹)	25.3	25.3	22.7	37.0	38.2	40.5	48.9	59.8	73.0	55.8
Dividend Payout Ratio (%)	4%	5%	12%	11%	21%	20%	41%	28%	38%	36%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23
Equity and Liabilities
Shareholders Fund	1,885	2,292	2,782	3,551	4,095	4,679	5,028	6,007	6,925	7,589
Share Capital ⓘ	19	19	19	19	39	39	39	39	39	39
Reserves ⓘ	1,865	2,272	2,762	3,532	4,057	4,640	4,989	5,969	6,886	7,550
Minority Interest	0	0	0	0	0	0	0	0	0	0
Debt	2,344	1,993	1,272	767	619	829	861	893	2,442	3,254
Long Term Debt	1,656	1,359	831	219	3	2	2	1	501	1,038
Short Term Debt	688	633	441	548	616	827	859	892	1,941	2,215
Trade Payables	373	380	337	363	397	357	361	633	808	487
Others Liabilities ⓘ	272	650	991	1,074	734	565	481	506	683	943
Total Liabilities ⓘ	4,874	5,315	5,382	5,756	5,845	6,430	6,731	8,040	10,857	12,272
Fixed Assets
Gross Block	3,001	3,321	3,142	3,385	3,666	3,935	4,783	5,243	6,344	8,247
Accumulated Depreciation	672	906	284	588	896	1,226	1,592	1,996	2,437	2,969
Net Fixed Assetsⓘ	2,329	2,415	2,858	2,797	2,771	2,709	3,191	3,248	3,907	5,278
CWIP ⓘ	476	634	231	110	118	585	586	856	1,258	1,392
Investmentsⓘ	427	445	857	1,350	1,103	1,083	1,063	1,418	1,897	2,037
Inventories	529	392	388	460	594	713	580	909	1,639	1,592
Trade Receivables	618	603	380	412	502	568	649	730	1,098	1,254
Cash Equivalents	10	431	303	14	25	56	46	54	35	38
Others Assetsⓘ	484	395	364	614	732	716	616	825	1,022	681
Total Assets ⓘ	4,874	5,315	5,382	5,756	5,845	6,430	6,731	8,040	10,857	12,272

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23
Cash Flow From Operating Activity ⓘ	594	979	1,095	842	753	813	1,164	1,363	881	1,414
PBT ⓘ	718	728	665	1,056	1,118	1,183	1,123	1,531	1,954	1,451
Adjustment ⓘ	204	286	407	215	241	255	279	258	209	545
Changes in Working Capital ⓘ	-149	179	259	-113	-215	-212	57	-77	-825	-244
Tax Paid ⓘ	-176	-210	-233	-313	-386	-407	-286	-349	-457	-338
Cash Flow From Investing Activity ⓘ	-1,241	-433	-569	-534	-92	-621	-656	-1,159	-1,889	-1,772
Capex	-858	-366	-239	-161	-411	-720	-761	-908	-1,580	-1,741
Net Investments	-394	-77	-344	-404	305	88	86	-289	-352	-88
Others ⓘ	11	10	14	32	14	11	20	39	43	57
Cash Flow From Financing Activityⓘ	390	-130	-656	-616	-655	-173	-521	-194	1,003	359
Net Proceeds from Shares ⓘ	0	0	0	0	0	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	180	40	-974	-610	-487	-116	-239	183	1,664	385
Interest Paid ⓘ	-25	-46	-35	-22	-13	-10	-7	-10	-8	-40
Dividend Paid ⓘ	-17	-22	-91	-64	-121	-174	-513	-232	-560	-309
Others ⓘ	252	-101	444	80	-34	128	238	-136	-93	323
Net Cash Flow ⓘ	-257	416	-129	-308	6	19	-13	10	-5	1

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23
Ratios
ROE (%)	29.56	23.41	17.29	22.6	19.34	17.83	19.47	20.94	21.82	14.86
ROCE (%)	19.22	17.43	15.15	22.51	23.01	22.88	19.86	24.1	24.48	15.1
Asset Turnover Ratio	0.82	0.75	0.61	0.68	0.77	0.85	0.73	0.78	0.88	0.85
PAT to CFO Conversion(x)	1.22	2	2.49	1.18	1.02	1.04	1.23	1.18	0.62	1.31
Working Capital Days
Receivable Days	57	58	55	38	37	37	46	44	40	44
Inventory Days	49	44	43	41	43	45	49	47	56	60
Payable Days	65	70	93	81	65	56	62	79	70	48

Balkrishna Industries Ltd Stock News

Balkrishna Industries Ltd FAQs

What is the share price of Balkrishna Inds.?

Company share prices are keep on changing according to the market conditions. The closing price of Balkrishna Inds. on 16-Apr-2024 16:01 is ₹2,353.

What is the market cap of Balkrishna Inds.?

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 16-Apr-2024 16:01 the market cap of Balkrishna Inds. stood at ₹45,477.9.

What is the P/E ratio of Balkrishna Inds.?

The latest P/E ratio of Balkrishna Inds. as of 16-Apr-2024 16:01 is 37.51.

What is the P/B ratio of Balkrishna Inds.?

The latest P/B ratio of Balkrishna Inds. as of 16-Apr-2024 16:01 is 5.33.

What is the 52-week high and low of Balkrishna Inds.?

The 52-week high of Balkrishna Inds. is ₹2,793.7 and the 52-week low is ₹2,015.2.

What is the TTM revenue of Balkrishna Inds.?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Balkrishna Inds. is ₹8,943 ( Cr.) .

About Balkrishna Industries Ltd

While the group foundation dates back to the 1950s, Balkrishna Industries (BKT) started its Off-Highway tire business in 1987. For many years, the company has successfully focused on specialist segments such as agricultural, construction and industrial as well as earthmoving, port and mining, ATV, and gardening applications.

Talent for innovation has been the company’s strength ever since as a result of consistent and continuous investment into Research and Development (R&D) as well as into tire technology, tire machinery and tire manufacturing processes. Its independent R&D Center in Bhuj ensures research into innovative product design and development as well as sustainable materials. This includes ‘the tire of the future’ project as well as new compounding methods by using rubber obtained from the Russian Dandelion TKS as a renewable alternative to natural rubber. In addition, it produces in-house its own tire molds and carbon black pigments. This provides company with major autonomy and ensures enhanced quality control throughout the entire supply chain.

Business area of the company

The company is primarily engaged into Specialty ‘Off Highway Tire segment’ which is consisting of Agriculture, Industrial, Construction, Earthmoving, Mining, Port, Lawn and Garden and All-Terrain Vehicle (ATVs) Tires, etc. This segment is highly technical & capital intensive and known as ‘large varieties low volume segment’ where any credible player needs to maintain large number of Stock Keeping Units (SKUs) to meet the diverse requirement of its customers worldwide. While the sub segment (agriculture) is largely known as non-cyclical in nature, the other sub segment (industrial, construction and mining) is generally considered as cyclical and the performance of it is largely linked to overall economic outlook of the world. The market for company’s products is mainly Europe, America, Australasia and India.

Products: