Whalesbook
เจฌเจพเจฒเจเฉเจฐเจฟเจธเจผเจจเจพ เจเฉฐเจกเจธเจเจฐเฉเจเจผ เจจเฉ Q2 FY26 เจตเจฟเฉฑเจ เจเจฎเจเจผเฉเจฐ เจเจฒเฉเจฌเจฒ เจฎเฉฐเจ เจ เจคเฉ เจชเฉเจฐเจคเฉเจเฉเจฒ เจฌเจฟเจเจผเจจเจธ เจฎเจฟเจเจธ เจเจพเจฐเจจ เจฎเจพเจฒเฉเจ 1.1% YoY INR 23,935 เจฎเจฟเจฒเฉเจ เจจ เจคเฉฑเจ เจเจเจฃ เจจเจพเจฒ เจเจฎเฉเจฆ เจคเฉเจ เจเจฎเจเจผเฉเจฐ เจฐเจฟเจชเฉเจฐเจ เจเฉเจคเฉ เจนเฉเฅค เจฒเจพเจญเจฆเจพเจเจเจคเจพ เจตเฉ เจเฉฑเจ เจชเฉเจฎเจพเจจเฉ เจ เจคเฉ เจเฉฑเจ เจเฉเจเจธ เจฆเจฐ เจจเจพเจฒ เจชเฉเจฐเจญเจพเจตเจฟเจค เจนเฉเจ เจนเฉเฅค เจตเจฟเจธเจผเจฒเฉเจธเจผเจเจพเจ เจจเฉ เจตเฉเจฒเจฏเฉเจเจธเจผเจจ เจจเฉเฉฐ เจธเจคเฉฐเจฌเจฐ 2027 เจฆเฉ เจ เจจเฉเจฎเจพเจจเจพเจ เจคเฉฑเจ เจฐเฉเจฒ เจซเจพเจฐเจตเจฐเจก เจเฉเจคเจพ เจนเฉ เจ เจคเฉ INR 2,370 เจฆเฉ เจเจพเจฐเจเฉเจ เจเฉเจฎเจค เจจเจพเจฒ 'เจนเฉเจฒเจก' เจฐเฉเจเจฟเฉฐเจ เจฌเจฐเจเจฐเจพเจฐ เจฐเฉฑเจเฉ เจนเฉ, เจจเฉเฉเจฒเฉ เจธเจฎเฉเจ เจฆเฉ เจฆเซเจธเจผเจเฉ เจธเฉเจฎเจค เจนเฉเจฃ เจฆเจพ เจนเจตเจพเจฒเจพ เจฆเจฟเฉฑเจคเจพ เจนเฉ.
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 worldโs leading manufacturers of โOff-Highway Tiresโ 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 |
| โ | 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 โน 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 โน 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% | โ |
Standalone figures in โน 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 | โ |
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 | โ |
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 โน 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 โน 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% |
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