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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

₹2,192.20 -8.50 (-0.39%)

As on 04-Jun'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

₹2,192.20 -8.50 (-0.39%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹42,379 Cr.
Current Price
₹2,192.2
52-Week Low / High
₹2,016 / 2,800
TTM EPS
₹63.2
TTM Sales
₹10,820 Cr.
Book Value per Share
₹567.3
P/E Ratio
34.68
In line with its 5-year historical median
Industry PE
21
Price to Book (P/B)
3.86
Lower than its 5-year historical median
Price to Sales (P/S)
3.92
Lower than its 5-year historical median
EV/EBITDA
18.47
In line with its 5-year historical median
Dividend Yield
0.63%
Profitability Efficiency
Return on Equity (ROE)
16.92%
Outperforms industry median
Return on Capital Employed (ROCE)
17.90%
Outperforms industry median
Return on Assets (ROA)
11.17%
Operating Profit Margin
23.3%
Net Profit Margin
15.64%
Gross Profit Margin
27.2%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
11.98%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
9.81%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
13.27%
Asset Quality
Promoter Holding
58.29%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹10,928 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

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Valuation

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Price Trend

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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.

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.

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 16.84%, compared to the industry median CAGR of 14.22%, indicating faster growth and gaining 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 20.7% based on the current price.

DeciZen - make an informed investing decision on Balkrishna Inds.

Decision Maker
Standalone basis

1. Right Stock

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2. Right Price

3. Right Time

#Likely Future 5 Year CAGR.

10 Year X-Ray : Login to view analysis.

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'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 15.2%22.5%23%22.9%19.9%24.1%24.1%14.8%17.7%17.9%-
Value Creation
Index
0.10.71.10.70.81.11.10.30.60.6-

Growth Parameters

Sales 3,2233,7284,4475,2454,7825,7588,2679,8119,29910,41310,820
Sales YoY Gr.-15.7%19.3%17.9%-8.8%20.4%43.6%18.7%-5.2%12%-
Adj EPS 19.328.626.633.541.855.959.845.960.870.563.2
YoY Gr.-48.2%-7.2%26%24.8%33.6%7%-23.2%32.5%15.9%-
BVPS (₹) 143.9183.7211.9242260.1310.8358.2392.6458.5537.2567.3
Adj Net
Profit
3745545146488081,0801,1568881,1761,3621,222
Cash Flow from Ops. 1,0958427538131,1641,3638811,4142,0521,753-
Debt/CF from Ops. 1.71.61.110.70.72.82.31.51.8-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 13.9%16.8%8%12%
Adj EPS 15.5%11%5.6%15.9%
BVPS15.8%15.6%14.5%17.2%
Share Price 20.6% -0.2% -1.3% -10.8%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
14.717.513.414.816.719.617.912.214.314.211.4
Op. Profit
Mgn %
26.530.424.925.126.23123.917.623.723.320.9
Net Profit
Mgn %
11.614.911.612.416.918.8149.112.713.111.3
Debt to
Equity
0.70.40.20.20.20.20.40.40.30.30.1
Working Cap
Days
14012313012814013113413313914086
Cash Conv.
Cycle
473341506150587680742

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales3,2233,7284,4475,2454,7825,7588,2679,8119,29910,413
Operating Expenses + 2,3842,5963,3403,9323,6483,9726,2918,1127,0947,992
Manufacturing Costs370366484549451558746874946947
Material Costs1,4091,5822,1502,4632,1272,3033,7794,9564,4745,063
Employee Cost 206224249264286326380404441494
Other Costs 3984234576567857851,3861,8781,2321,488
Operating Profit 8391,1321,1081,3121,1341,7861,9761,6982,2042,421
Operating Profit Margin (%) 26.0%30.4%24.9%25.0%23.7%31.0%23.9%17.3%23.7%23.2%
Other Income + 149250336214366161431355448535
Exceptional Items 0000000000
Interest 40211411910846110125
Depreciation 282304311333368406444557644674
Profit Before Tax 6651,0561,1181,1831,1231,5311,9541,4511,8992,156
Tax 227341379401178376544372461528
Profit After Tax 4397167397829451,1551,4111,0791,4381,628
PAT Margin (%) 13.6%19.2%16.6%14.9%19.8%20.1%17.1%11.0%15.5%15.6%
Adjusted EPS (₹)22.737.038.240.548.959.873.055.874.484.2
Dividend Payout Ratio (%)12.10%10.80%20.90%19.80%40.90%28.40%38.40%28.70%21.50%19%

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!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 2,7823,5514,0954,6795,0286,0076,9257,5898,86210,384
Share Capital 19193939393939393939
Reserves 2,7623,5324,0574,6404,9895,9696,8867,5508,82310,345
Debt +1,2727676198298618932,4423,2542,6872,878
Long Term Debt83121932215011,038691387
Short Term Debt4415486168278598921,9412,2151,9952,490
Minority Interest0000000000
Trade Payables337363397357361633808487791746
Others Liabilities 9911,0747345654815066839431,2661,553
Total Liabilities 5,3825,7565,8456,4306,7318,04010,85712,27213,60515,560

Fixed Assets

Net Fixed Assets +2,8582,7972,7712,7093,1913,2483,9075,2786,2206,852
Gross Block3,1423,3853,6663,9354,7835,2436,3448,2469,82511,123
Accumulated Depreciation2845888961,2261,5921,9962,4372,9673,6064,271
CWIP 2311101185855868561,2581,392944985
Investments 8571,3501,1031,0831,0631,4181,8972,0372,6863,265
Inventories3884605947135809091,6391,5921,2711,716
Trade Receivables3804125025686497301,0981,2541,5431,611
Cash Equivalents 303142556465435385363
Others Assets 3646147327166168251,0226818881,068
Total Assets 5,3825,7565,8456,4306,7318,04010,85712,27213,60515,560

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 1,0958427538131,1641,3638811,4142,0521,753
PBT 6651,0561,1181,1831,1231,5311,9541,4511,8992,156
Adjustment 407215241255279258209545408508
Changes in Working Capital 259-113-215-21257-77-825-244163-432
Tax Paid -233-313-386-407-286-349-457-338-418-479
Cash Flow From Investing Activity + -569-534-92-621-656-1,159-1,889-1,772-1,468-1,477
Capex -239-161-411-720-761-908-1,580-1,741-1,075-1,446
Net Investments -344-4043058886-289-352-88-457-176
Others 143214112039435765145
Cash Flow From Financing Activity + -656-616-655-173-521-1941,003359-568-268
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -974-610-487-116-2391831,664385146-1,180
Interest Paid -35-22-13-10-7-10-8-40-98-110
Dividend Paid -91-64-121-174-513-232-560-309-309-310
Others 44480-34128238-136-93323-3071,332
Net Cash Flow -129-308619-1310-51179

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)17.2922.619.3417.8319.4720.9421.8214.8617.4816.92
ROCE (%)15.1522.5123.0122.8819.8624.124.1314.8217.6617.9
Asset Turnover Ratio0.610.680.770.850.730.780.880.850.720.71
PAT to CFO Conversion(x)2.491.181.021.041.231.180.621.311.431.08
Working Capital Days
Receivable Days54.9038.2037.4037.2046.5043.7040.3043.7054.8055.20
Inventory Days43.5040.9043.1045.5049.4047.2056.2060.1056.1052.30
Payable Days92.8080.7064.6055.9061.6078.8069.6047.7052.1055.40

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 (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Balkrishna Industries Ltd FAQs

The current trading price of Balkrishna Inds. on 04-Jun-2026 16:59 is ₹2,192.2.

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 03-Jun-2026 the market cap of Balkrishna Inds. stood at ₹42,379 Cr

The latest P/E ratio of Balkrishna Inds. as of 03-Jun-2026 is 34.68.

The latest P/B ratio of Balkrishna Inds. as of 03-Jun-2026 is 3.86.

The 52-week high of Balkrishna Inds. is ₹2,800.2 and the 52-week low is ₹2,016.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Balkrishna Inds. is ₹10,820 ( 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 Somewhat Undervalued zone.

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.

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:

  • Agricultural tires
  • Industrial tires
  • OTR tires
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