Balkrishna Industries Ltd - Stock Valuation and Financial Performance

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

Balkrishna Inds. Share Price

2,830 -28.00 -0.98%
as on 07-Oct'24 16:01

DeciZen - make an informed investing decision on Balkrishna Inds.

Overall Rating
Bole Toh

1. Quality

2. Valuation

Somewhat overvalued

3. Price Trend

Balkrishna Industries stock performance -

mw4me loader
P/E Ratio (SA):
34.47
Market Cap:
55,250.1 Cr.
52-wk low:
2,193.9
52-wk high:
3,378

Is Balkrishna Industries Ltd an attractive stock to invest in?

1. Is Balkrishna Industries Ltd a good quality company?

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

2. Is Balkrishna Industries Ltd 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.

3. Is Balkrishna Industries Ltd a good buy now?

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

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
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

Value Creation Index Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
ROCE % 17.4%15.2%22.5%23%22.9%19.9%24.1%24.1%14.8%17.7%-
Value Creation
Index
0.30.10.71.10.70.81.11.10.30.6-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 3,7803,2233,7284,4475,2454,7825,7588,2679,8119,2999,868
Sales YoY Gr.--14.8%15.7%19.3%17.9%-8.8%20.4%43.6%18.7%-5.2%-
Adj EPS 15.619.328.626.633.541.855.959.845.960.882.9
YoY Gr.-23.9%48.2%-7.2%26%24.8%33.6%7%-23.2%32.5%-
BVPS (₹) 118.5143.9183.7211.9242260.1310.8358.2392.6458.5483.1
Adj Net
Profit
3023745545146488081,0801,1568881,1761,602
Cash Flow from Ops. 9791,0958427538131,1641,3638811,4142,052-
Debt/CF from Ops. 2.41.71.61.110.70.72.82.31.5-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 10.5%12.1%17.3%-5.2%
Adj EPS 16.3%12.7%2.9%32.5%
BVPS16.2%13.6%13.8%16.8%
Share Price 22.2% 31.3% 3.6% 10.5%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
Return on
Equity %
14.414.717.513.414.816.719.617.912.214.317.6
Op. Profit
Mgn %
19.526.530.424.925.126.23123.917.623.724.1
Net Profit
Mgn %
811.614.911.612.416.918.8149.112.716.2
Debt to
Equity
10.70.40.20.20.20.20.40.40.3-
Working Cap
Days
14414012313012814013113413313976
Cash Conv.
Cycle
5947334150615058767816

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 17.60%

Sales growth is growing at healthy rate in last 3 years 17.32%

Net Profit has been subdued in last 3 years 2.88%

Sales growth is not so good in last 4 quarters at 7.73%

Latest Financials - Balkrishna Industries Ltd.

Standalone Consolidated
TTM EPS (₹) 82.9 84.3
TTM Sales (₹ Cr.) 9,868 9,924
BVPS (₹.) 483.1 483.3
Reserves (₹ Cr.) 9,301 9,305
P/BV 5.92 5.91
PE 34.47 33.90
From the Market
52 Week Low / High (₹) 2193.85 / 3377.95
All Time Low / High (₹) 0.58 / 3377.95
Market Cap (₹ Cr.) 55,250
Equity (₹ Cr.) 38.7
Face Value (₹) 2
Industry PE 28.4

Management X-Ray of Balkrishna Inds.:

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 (%)

Event Update

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Analyst's Notes

Key Ratios of Balkrishna Inds.

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Sales3,7803,2233,7284,4475,2454,7825,7588,2679,8119,299
Operating Expenses 3,0452,3842,5963,3403,9323,6483,9726,2918,1127,094
Manufacturing Costs439370366484549451558746874946
Material Costs1,9681,4091,5822,1502,4632,1272,3033,7794,9564,474
Employee Cost 194206224249264286326380404441
Other Costs 4433984234576567857851,3861,8781,232
Operating Profit 7358391,1321,1081,3121,1341,7861,9761,6982,204
Operating Profit Margin (%) 19.4%26.0%30.4%24.9%25.0%23.7%31.0%23.9%17.3%23.7%
Other Income 280149250336214366161431355448
Interest 4740211411910846110
Depreciation 240282304311333368406444557644
Exceptional Items 0000000000
Profit Before Tax 7286651,0561,1181,1831,1231,5311,9541,4511,899
Tax 239227341379401178376544372461
Profit After Tax 4894397167397829451,1551,4111,0791,438
PAT Margin (%) 12.9%13.6%19.2%16.6%14.9%19.8%20.1%17.1%11.0%15.5%
Adjusted EPS (₹)25.322.737.038.240.548.959.873.055.874.4
Dividend Payout Ratio (%)5%12%11%21%20%41%28%38%36%27%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Shareholders Fund 2,2922,7823,5514,0954,6795,0286,0076,9257,5898,862
Share Capital 19191939393939393939
Reserves 2,2722,7623,5324,0574,6404,9895,9696,8867,5508,823
Minority Interest0000000000
Debt1,9931,2727676198298618932,4423,2543,037
Long Term Debt1,35983121932215011,038691
Short Term Debt6334415486168278598921,9412,2152,345
Trade Payables380337363397357361633808487893
Others Liabilities 6509911,074734565481506683943814
Total Liabilities 5,3155,3825,7565,8456,4306,7318,04010,85712,27213,605

Fixed Assets

Gross Block3,3213,1423,3853,6663,9354,7835,2436,3448,2469,825
Accumulated Depreciation9062845888961,2261,5921,9962,4372,9673,606
Net Fixed Assets2,4152,8582,7972,7712,7093,1913,2483,9075,2786,219
CWIP 6342311101185855868561,2581,392944
Investments 4458571,3501,1031,0831,0631,4181,8972,0372,687
Inventories3923884605947135809091,6391,5921,271
Trade Receivables6033804125025686497301,0981,2541,543
Cash Equivalents 4313031425564654353853
Others Assets3953646147327166168251,022681888
Total Assets 5,3155,3825,7565,8456,4306,7318,04010,85712,27213,605

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity 9791,0958427538131,1641,3638811,4142,052
PBT 7286651,0561,1181,1831,1231,5311,9541,4511,899
Adjustment 286407215241255279258209545408
Changes in Working Capital 179259-113-215-21257-77-825-244163
Tax Paid -210-233-313-386-407-286-349-457-338-418
Cash Flow From Investing Activity -433-569-534-92-621-656-1,159-1,889-1,772-1,468
Capex -366-239-161-411-720-761-908-1,580-1,741-1,075
Net Investments -77-344-4043058886-289-352-88-458
Others 10143214112039435765
Cash Flow From Financing Activity -130-656-616-655-173-521-1941,003359-568
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 40-974-610-487-116-2391831,664385146
Interest Paid -46-35-22-13-10-7-10-8-40-98
Dividend Paid -22-91-64-121-174-513-232-560-309-309
Others -10144480-34128238-136-93323-307
Net Cash Flow 416-129-308619-1310-5117
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Ratios
ROE (%)23.4117.2922.619.3417.8319.4720.9421.8214.8617.48
ROCE (%)17.4315.1522.5123.0122.8819.8624.124.1314.8217.66
Asset Turnover Ratio0.750.610.680.770.850.730.780.880.850.72
PAT to CFO Conversion(x)22.491.181.021.041.231.180.621.311.43
Working Capital Days
Receivable Days58553837374644404455
Inventory Days44434143454947566056
Payable Days70938165566279704856

Balkrishna Industries Ltd Stock News

Balkrishna Industries Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Balkrishna Inds. on 07-Oct-2024 16:01 is ₹2,830.
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 07-Oct-2024 16:01 the market cap of Balkrishna Inds. stood at ₹55,250.1.
The latest P/E ratio of Balkrishna Inds. as of 07-Oct-2024 16:01 is 34.47.
The latest P/B ratio of Balkrishna Inds. as of 07-Oct-2024 16:01 is 5.92.
The 52-week high of Balkrishna Inds. is ₹3,378 and the 52-week low is ₹2,193.9.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Balkrishna Inds. is ₹9,868 ( 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:

  • Agricultural tires
  • Industrial tires
  • OTR tires
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