Balkrishna Industries Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2011 • Tyres: 90.3% • Others: 9.7%
AI Sector View
AI GENERATEDAutomobile and Auto Components
Domestic auto demand remains strong across categories, with total vehicles registered up 27% YoY (2026-07), passenger vehicle sales up 14% YoY (2026-06), 2-wheelers up 23% YoY (2026-06), and tractor sales up 18% YoY (2026-07). Core demand is reinforced by vehicle sales of 395199 units (Jul/26) and car registrations of 457810 units (Jul/26), outweighing FPI outflows of INR -11826 crore over 3 months to 2026-08-31. The stance stays positive because fundamentals are stronger than positioning.
PROS
- Company has consistently been profitable over the last 5 years
- Latest quarter profit grew 56.4% YoY, showing strong momentum
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.39x)
- Working capital cycle has improved - days down from 47 to 2
- Company has a consistent dividend-paying track record
- Company comfortably covers its interest (13.3x coverage)
CONS
- Company has delivered a poor profit growth of 1.1% over past five years
- Expensive relative to growth - PEG of 5.5
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| MRF | 128476.05 | 22.56 | 54488.53 | 0.18 | 495.35 | -1.02 | 8415.50 | 9.64 | 16.04 | 11.77 |
| BALKRISIND | 2208.00 | 30.37 | 42684.44 | 0.72 | 450.77 | 56.35 | 3455.27 | 25.19 | 12.38 | 21.54 |
| APOLLOTYRE | 421.95 | 15.69 | 26798.08 | 1.42 | 348.87 | 2609.05 | 7397.79 | 12.76 | 9.22 | 11.73 |
| CEATLTD | 3294.00 | 22.60 | 13324.26 | 1.06 | 4.00 | -96.44 | 4318.00 | 22.34 | 18.60 | 8.57 |
| JKTYRE | 356.50 | 15.78 | 10277.52 | 1.12 | 44.09 | -73.01 | 3946.24 | 2.00 | 14.30 | 6.58 |
| TVSSRICHAK | 5174.45 | 42.89 | 3962.10 | 0.73 | 34.02 | 165.16 | 1067.61 | 30.29 | 4.80 | 7.57 |
| GOODYEAR | 729.20 | 31.21 | 1682.01 | 3.63 | 6.51 | -53.86 | 774.35 | 18.00 | 14.67 | 1.30 |
| TOLINS | 91.03 | 11.04 | 359.65 | 0.00 | 6.19 | -33.46 | 79.27 | -11.67 | 21.30 | 11.24 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,159 | 2,253 | 2,274 | 2,682 | 2,714 | 2,420 | 2,560 | 2,752 | 2,760 | 2,393 | 2,737 | 2,933 | 3,455 | |
| 1,658 | 1,720 | 1,734 | 2,001 | 2,051 | 1,840 | 1,960 | 2,139 | 2,254 | 1,882 | 2,094 | 2,293 | 2,954 | |
| Operating Profit | 501 | 533 | 541 | 681 | 664 | 580 | 601 | 614 | 506 | 511 | 643 | 640 | 501 |
| OPM % | 23.20% | 23.64% | 23.77% | 25.40% | 24.45% | 23.96% | 23.46% | 22.29% | 18.34% | 21.36% | 23.50% | 21.82% | 14.51% |
| 106 | 107 | 66 | 171 | 162 | 90 | 187 | 99 | 107 | 71 | 77 | -4 | 100 | |
| Interest | 22 | 24 | 36 | 31 | 22 | 41 | 16 | 50 | 31 | 33 | 34 | 36 | 37 |
| Depreciation | 155 | 160 | 161 | 174 | 163 | 166 | 173 | 178 | 188 | 193 | 195 | 199 | 206 |
| Profit before Tax | 430 | 456 | 409 | 647 | 640 | 463 | 600 | 485 | 394 | 357 | 491 | 401 | 601 |
| Tax % | 22.76% | 23.73% | 25.31% | 24.75% | 23.43% | 25.01% | 25.05% | 24.03% | 26.90% | 23.54% | 22.18% | 25.31% | 25.00% |
| Net Profit | 0 | 0 | 0 | 0 | 490 | 347 | 449 | 369 | 288 | 273 | 382 | 299 | 451 |
| 17.17 | 17.97 | 15.80 | 25.18 | 25.35 | 17.95 | 23.25 | 19.06 | 14.91 | 14.13 | 19.77 | 15.49 | 23.32 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 3,723 | 4,444 | 5,210 | 4,811 | 5,783 | 8,295 | 9,760 | 9,369 | 10,447 | 10,823 | 11,518 | |
| 2,592 | 3,341 | 3,907 | 3,655 | 3,972 | 6,286 | 8,070 | 7,113 | 7,989 | 8,522 | 9,223 | |
| Operating Profit | 1,131 | 1,103 | 1,303 | 1,156 | 1,811 | 2,009 | 1,690 | 2,256 | 2,458 | 2,301 | 2,296 |
| OPM % | 30.38% | 24.81% | 25.02% | 24.03% | 31.31% | 24.22% | 17.31% | 24.08% | 23.53% | 21.26% | 19.93% |
| 254 | 340 | 218 | 368 | 172 | 438 | 364 | 449 | 539 | 252 | 244 | |
| Interest | 22 | 15 | 12 | 11 | 12 | 9 | 48 | 113 | 129 | 134 | 140 |
| Depreciation | 304 | 311 | 333 | 374 | 416 | 455 | 571 | 651 | 681 | 775 | 793 |
| Profit before Tax | 1,059 | 1,116 | 1,177 | 1,140 | 1,555 | 1,982 | 1,435 | 1,941 | 2,187 | 1,644 | 1,850 |
| Tax % | 32.28% | 34.07% | 34.24% | 15.78% | 24.27% | 27.58% | 26.30% | 24.19% | 24.34% | 24.37% | 24.04% |
| Net Profit | 717 | 736 | 774 | 960 | 1,178 | 1,435 | 1,057 | 1,471 | 1,655 | 1,243 | 1,406 |
| EPS | 74.16 | 38.06 | 40.02 | 49.64 | 60.91 | 74.26 | 54.70 | 76.12 | 85.62 | 64.31 | — |
| Dividend Payout % | 10.79% | 21.02% | 19.99% | 40.29% | 27.91% | 37.71% | 29.25% | 21.02% | 18.69% | 24.88% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 13%
- 5 Years:
- 13%
- 3 Years:
- 4%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 11%
- 5 Years:
- 1%
- 3 Years:
- 6%
STOCK PRICE CAGR
- 10 Years:
- 17%
- 5 Years:
- -2%
- 3 Years:
- -3%
- 1 Year:
- -8%
RETURN ON EQUITY
- 10 Years:
- 18%
- 5 Years:
- 17%
- 3 Years:
- 16%
- Last Year:
- 12%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 19 | 39 | 39 | 39 | 39 | 39 | 39 | 39 | 39 | 39 |
| 3,524 | 4,045 | 4,615 | 4,970 | 5,961 | 6,894 | 7,518 | 8,815 | 10,349 | 10,917 | |
| 812 | 667 | 895 | 965 | 1,033 | 2,559 | 3,472 | 3,190 | 3,206 | 4,134 | |
| Trade Payables | 374 | 409 | 386 | 384 | 655 | 829 | 492 | 808 | 754 | 912 |
| 1,060 | 718 | 545 | 449 | 479 | 657 | 826 | 832 | 1,287 | 1,765 | |
| Total Liabilities | 5,789 | 5,878 | 6,479 | 6,806 | 8,166 | 10,979 | 12,348 | 13,685 | 15,635 | 17,766 |
| 2,797 | 2,771 | 2,709 | 3,222 | 3,284 | 3,940 | 5,313 | 6,253 | 6,880 | 7,354 | |
| Capital Work in Progress | 110 | 119 | 600 | 587 | 856 | 1,258 | 1,392 | 944 | 986 | 2,472 |
| 1,349 | 1,103 | 1,083 | 1,062 | 1,418 | 1,897 | 2,037 | 2,686 | 3,264 | 3,124 | |
| 476 | 619 | 759 | 616 | 940 | 1,672 | 1,667 | 1,332 | 1,782 | 1,808 | |
| 0 | 0 | 0 | 0 | 0 | 1,096 | 0 | 1,445 | 1,495 | 1,447 | |
| Cash & Bank | 25 | 33 | 66 | 69 | 75 | 52 | 76 | 80 | 86 | 65 |
| 1,032 | 1,234 | 1,263 | 1,251 | 1,595 | 1,064 | 1,862 | 944 | 1,142 | 1,497 | |
| Total Assets | 5,789 | 5,878 | 6,479 | 6,806 | 8,166 | 10,979 | 12,348 | 13,685 | 15,635 | 17,766 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1,163 | 1,142 | 1,235 | 1,470 | 1,690 | 908 | 1,791 | 2,082 | 1,764 | 2,249 | |
| Cash from Investing | -563 | -92 | -636 | -678 | -1,173 | -1,897 | -1,783 | -1,476 | -1,479 | -2,523 |
| Cash from Financing | -589 | -654 | -165 | -495 | -158 | 980 | 359 | -601 | -279 | 254 |
| -306 | 4 | 20 | 1 | 8 | -9 | 23 | 5 | 6 | -19 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-03 - Balkrishna Industries Limited has informed the Exchange regarding Outcome of Committee Meeting held on September 03, 2026.
2026-08-25 - Balkrishna Industries Limited has informed the Exchange about Credit Rating- New
2026-08-18 - Balkrishna Industries Limited has informed the Exchange regarding Outcome of Committee Meeting held on August 18, 2026.
2026-08-05 - Balkrishna Industries Limited has informed the Exchange about Transcript
2026-07-31 - Balkrishna Industries Limited has informed the Exchange about Copy of Newspaper Publication
2026-07-30 - Balkrishna Industries Limited has informed the Exchange about Link of Recording
2026-07-30 - Balkrishna Industries Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on July 29, 2026. Further, the company has informed the Exchange regarding voting results.
2026-07-30 - Balkrishna Industries Limited has informed the Exchange about Shareholders meeting
2026-07-29 - Balkrishna Industries Limited has informed the Exchange regarding 'Investor Presentation'.
News
Recent coverage and analyst commentary for BALKRISIND
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