Whalesbook
рдмрд╛рд▓реНрдХреГрд╖реНрдг рдЗрдВрдбрд╕реНрдЯреНрд░реАрдЬ рдиреЗ рдЙрдореНрдореАрдж рд╕реЗ рдХрдордЬреЛрд░ Q2 FY26 рд░рд┐рдкреЛрд░реНрдЯ рдХрд┐рдпрд╛ рд╣реИ, рдЬрд┐рд╕рдореЗрдВ рд░рд╛рдЬрд╕реНрд╡ 1.1% рд╕рд╛рд▓-рджрд░-рд╕рд╛рд▓ рдЧрд┐рд░рдХрд░ INR 23,935 рдорд┐рд▓рд┐рдпрди рд╣реЛ рдЧрдпрд╛ред рдЗрд╕рдХрд╛ рдХрд╛рд░рдг рд╡реИрд╢реНрд╡рд┐рдХ рдорд╛рдВрдЧ рдореЗрдВ рдирд░рдореА рдФрд░ рдкреНрд░рддрд┐рдХреВрд▓ рдмрд┐рдЬрдиреЗрд╕ рдорд┐рдХреНрд╕ рд░рд╣рд╛ред рд▓рд╛рднрдкреНрд░рджрддрд╛ рднреА рдзреАрдореА рдЧрддрд┐ рдФрд░ рдЙрдЪреНрдЪ рдХрд░ рджрд░ рд╕реЗ рдкреНрд░рднрд╛рд╡рд┐рдд рд╣реБрдИред рд╡рд┐рд╢реНрд▓реЗрд╖рдХреЛрдВ рдиреЗ рдореВрд▓реНрдпрд╛рдВрдХрди рдХреЛ рд╕рд┐рддрдВрдмрд░ 2027 рдХреЗ рдЕрдиреБрдорд╛рдиреЛрдВ рддрдХ рдЖрдЧреЗ рдмрдврд╝рд╛ рджрд┐рдпрд╛ рд╣реИ рдФрд░ INR 2,370 рдХреЗ рд▓рдХреНрд╖реНрдп рдореВрд▓реНрдп рдХреЗ рд╕рд╛рде "рд╣реЛрд▓реНрдб" рд░реЗрдЯрд┐рдВрдЧ рдмрдирд╛рдП рд░рдЦреА рд╣реИ, рдЬрд┐рд╕рдХрд╛ рдХрд╛рд░рдг рдирд┐рдХрдЯ рдЕрд╡рдзрд┐ рдореЗрдВ рд╕реАрдорд┐рдд рджреГрд╢реНрдпрддрд╛ рд╣реИред
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]
Product PortfolioThe company is one of the worldтАЩs leading manufacturers of тАЬOff-Highway TiresтАЭ catering to specialty segments like Agricultural, Mining, Construction, Industrial, Earthmover, Port, ATV, and Turf care applications in both cross-ply and radial construction. It has a product range with more than 3,200 SKUs.[1]The company has a 5-6% market share in the global specialty market.[2]
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | MRF | 152435.00 | 34.87 | 64641.85 | 0.15 | 525.64 | 11.67 | 7378.72 | 7.23 | 13.62 | 29130.05 | 14.11 | 1853.67 | 525.64 | 3.33 | 6.62 | 0.19 |
| 2. | Balkrishna Inds | 2319.50 | 33.16 | 44873.09 | 0.69 | 264.61 | -24.29 | 2388.65 | -1.95 | 16.49 | 10436.27 | 21.00 | 1353.26 | 264.61 | 4.29 | 10.24 | 0.35 |
| 3. | Apollo Tyres | 512.40 | 24.79 | 32555.12 | 0.98 | 258.05 | 25.57 | 6831.09 | 6.12 | 11.44 | 26743.39 | 13.73 | 1313.45 | 378.38 | 2.10 | 4.56 | 0.29 |
| 4. | CEAT | 3877.80 | 29.93 | 15690.39 | 0.77 | 185.71 | 52.54 | 3772.65 | 14.17 | 15.40 | 14022.58 | 11.55 | 524.21 | 185.95 | 3.43 | 4.66 | 0.68 |
| 5. | JK Tyre & Indust | 446.45 | 22.42 | 12236.34 | 0.67 | 226.86 | 58.99 | 4011.31 | 10.76 | 12.78 | 15312.53 | 10.45 | 545.66 | 226.74 | 2.33 | 3.74 | 0.92 |
| 6. | TVS Srichakra | 4702.10 | 147.87 | 3603.96 | 0.36 | 10.96 | 22.70 | 926.49 | 10.07 | 5.36 | 3367.01 | 6.69 | 24.37 | 12.65 | 3.12 | 0.95 | 0.69 |
| 7. | Goodyear India | 890.50 | 49.47 | 2054.39 | 2.68 | 13.07 | -16.96 | 596.46 | -12.57 | 13.01 | 2487.10 | 3.87 | 41.53 | 13.07 | 3.57 | 4.55 | 0.05 |
| тАУ | Median: 14 Co. | 309.88 | 29.93 | 1327.71 | 0.52 | 8.96 | -2.33 | 347.06 | 9.68 | 12.89 | 1391.11 | 11.0 | 30.4 | 9.8 | 2.6 | 4.57 | 0.35 |
Standalone figures in тВ╣ crores
| Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 2,704 | 2,142 | 2,318 | 2,120 | 2,226 | 2,280 | 2,673 | 2,690 | 2,436 | 2,541 | 2,747 | 2,760 | 2,389 |
Expenses | 2,260 | 1,885 | 1,847 | 1,639 | 1,707 | 1,741 | 2,008 | 2,039 | 1,856 | 1,953 | 2,145 | 2,257 | 1,890 |
Operating Profit | 445 | 257 | 471 | 481 | 518 | 539 | 665 | 650 | 580 | 588 | 602 | 503 | 498 |
Other Income | 226 | 43 | 54 | 104 | 107 | 66 | 171 | 159 | 90 | 187 | 99 | 104 | 71 |
Profit before tax | 532 | 142 | 348 | 411 | 444 | 411 | 634 | 627 | 465 | 589 | 475 | 391 | 347 |
Tax % | 24% | 30% | 27% | 24% | 24% | 25% | 24% | 24% | 25% | 25% | 24% | 27% | 24% |
Net Profit | 404 | 100 | 256 | 312 | 335 | 309 | 481 | 477 | 350 | 439 | 362 | 287 | 265 |
EPS in Rs | 20.89 | 5.15 | 13.22 | 16.15 | 17.35 | 15.99 | 24.87 | 24.69 | 18.08 | 22.73 | 18.73 | 14.85 | 13.69 |
Standalone Figures in тВ╣ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 3,575 | 3,776 | 3,220 | 3,728 | 4,447 | 5,244 | 4,782 | 5,758 | 8,267 | 9,811 | 9,299 | 10,413 | 10,436 |
Expenses | 2,681 | 3,040 | 2,365 | 2,596 | 3,340 | 3,929 | 3,530 | 3,971 | 6,291 | 8,090 | 7,094 | 7,991 | 8,245 |
Operating Profit | 894 | 736 | 855 | 1,132 | 1,108 | 1,315 | 1,252 | 1,786 | 1,976 | 1,721 | 2,205 | 2,422 | 2,191 |
Other Income | 14 | 278 | 133 | 250 | 336 | 211 | 248 | 161 | 431 | 333 | 448 | 533 | 461 |
Interest | 25 | 47 | 40 | 21 | 14 | 11 | 9 | 10 | 8 | 46 | 110 | 125 | 126 |
Depreciation | 165 | 240 | 282 | 304 | 311 | 333 | 368 | 406 | 444 | 557 | 644 | 674 | 724 |
Profit before tax | 718 | 728 | 665 | 1,056 | 1,118 | 1,183 | 1,123 | 1,531 | 1,954 | 1,451 | 1,899 | 2,156 | 1,803 |
Net Profit | 488 | 489 | 439 | 716 | 739 | 782 | 945 | 1,155 | 1,411 | 1,079 | 1,438 | 1,628 | 1,353 |
EPS in Rs | 25.26 | 25.29 | 22.69 | 37.02 | 38.24 | 40.45 | 48.88 | 59.77 | 72.97 | 55.80 | 74.36 | 84.23 | 70.00 |
Dividend Payout % | 4% | 5% | 12% | 11% | 21% | 20% | 41% | 28% | 38% | 29% | 22% | 19% | тАУ |
Standalone figures in тВ╣ crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 19 | 19 | 19 | 19 | 39 | 39 | 39 | 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 | 8,823 | 10,345 | 10,404 |
Borrowings | 2,350 | 2,358 | 1,880 | 1,361 | 835 | 830 | 863 | 894 | 2,443 | 3,254 | 3,037 | 3,214 | 3,618 |
Other Liabilities | 639 | 665 | 720 | 843 | 914 | 921 | 840 | 1,139 | 1,490 | 1,429 | 1,706 | 1,962 | 2,375 |
Total Liabilities | 4,874 | 5,315 | 5,382 | 5,756 | 5,845 | 6,430 | 6,731 | 8,040 | 10,857 | 12,272 | 13,605 | 15,560 | 16,436 |
Fixed Assets | 2,329 | 2,415 | 2,858 | 2,849 | 2,849 | 2,786 | 3,277 | 3,334 | 3,986 | 5,349 | 6,284 | 6,913 | 7,030 |
Gross Block | 3,001.40 | 3,321.25 | 3,142.19 | 3,438.04 | 3,748.10 | 4,016.22 | 4,876.09 | 5,337.02 | 6,432.28 | 8,325.71 | 9,899.31 | 11,194.50 | тАУ |
Accumulated Depreciation | 671.95 | 906.49 | 283.97 | 589.45 | 899.06 | 1,230.13 | 1,599.02 | 2,002.84 | 2,446.18 | 2,976.54 | 3,615.36 | 4,281.10 | тАУ |
CWIP | 476 | 634 | 231 | 110 | 118 | 585 | 586 | 856 | 1,258 | 1,392 | 944 | 985 | 1,757 |
Investments | 427 | 445 | 866 | 1,350 | 1,103 | 1,083 | 1,063 | 1,418 | 1,897 | 2,037 | 2,686 | 3,265 | 3,113 |
Other Assets | 1,642 | 1,821 | 1,426 | 1,448 | 1,774 | 1,975 | 1,806 | 2,432 | 3,715 | 3,494 | 3,690 | 4,396 | 4,536 |
Total Assets | 4,874 | 5,315 | 5,382 | 5,756 | 5,845 | 6,430 | 6,731 | 8,040 | 10,857 | 12,272 | 13,605 | 15,560 | 16,436 |
Standalone Figures in тВ╣ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | 594 | 979 | 1,095 | 842 | 753 | 813 | 1,164 | 1,363 | 881 | 1,414 | 2,052 | 1,753 |
Cash from Investing Activity | -1,241 | -428 | -569 | -534 | -92 | -621 | -656 | -1,158 | -1,889 | -1,772 | -1,468 | -1,477 |
Cash from Financing Activity | 390 | -130 | -656 | -616 | -655 | -173 | -521 | -194 | 1,003 | 359 | -568 | -268 |
Net Cash Flow | -257 | 421 | -129 | -308 | 6 | 19 | -13 | 11 | -5 | 1 | 17 | 9 |
Standalone Figures in тВ╣ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 63 | 58 | 43 | 40 | 41 | 40 | 50 | 46 | 48 | 47 | 61 | 56 |
Inventory Days | 112 | 73 | 100 | 106 | 101 | 106 | 100 | 144 | 158 | 117 | 104 | 124 |
Days Payable | 79 | 70 | 87 | 84 | 67 | 53 | 62 | 100 | 78 | 36 | 64 | 54 |
Cash Conversion Cycle | 96 | 61 | 56 | 63 | 75 | 92 | 87 | 90 | 129 | 128 | 100 | 126 |
Working Capital Days | 27 | -22 | -61 | -36 | 7 | 16 | 1 | 11 | -2 | -7 | -15 | -14 |
ROCE % | 19% | 17% | 15% | 20% | 22% | 22% | 19% | 23% | 23% | 14% | 16% | 16% |
Nov 2025
Aug 2025
May 2025
May 2025
Jan 2025
Oct 2024
Aug 2024
May 2024
Jan 2024
Oct 2023
Aug 2023
Jun 2023
Feb 2023
Nov 2022
Aug 2022
May 2022
Feb 2022
Nov 2021
Aug 2021
May 2021
Feb 2021
Nov 2020
Aug 2020
Jun 2020
Feb 2020
Nov 2019
Aug 2019
Aug 2019
May 2019
May 2019
Feb 2019
Nov 2018
Aug 2018
May 2018
Feb 2018
Nov 2017
Jul 2017
May 2017
May 2016