BALKRISHNA INDUSTRIES LIMITED Financials Balkrishna Industries Limited NSE India S.E.
Equities
BALKRISIND
INE787D01026
Tires & Rubber Products
|
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 2,445 INR | -0.65% |
|
+2.89% | -4.83% |
| Jan. 26 | Nomura Adjusts Balkrishna Industries' Price Target to INR2,265 From INR2,168, Keeps at Reduce | MT |
| Jan. 25 | Transcript : Balkrishna Industries Limited, Q3 2024 Earnings Call, Jan 25, 2024 |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 192,264 | 152,933 | 326,793 | 413,380 | 377,297 | 472,767 | - | - |
| Enterprise Value (EV) 1 | 196,131 | 150,902 | 323,545 | 418,946 | 389,089 | 485,034 | 476,195 | 467,329 |
| P/E ratio | 24.6 x | 16.2 x | 28.3 x | 29.3 x | 35 x | 36.7 x | 28.5 x | 23.8 x |
| Yield | 0.8% | 2.53% | 1.01% | 1.87% | 0.82% | 0.8% | 1.05% | 1.21% |
| Capitalization / Revenue | 3.67 x | 3.2 x | 5.68 x | 5 x | 3.85 x | 5.22 x | 4.51 x | 4.02 x |
| EV / Revenue | 3.74 x | 3.16 x | 5.62 x | 5.07 x | 3.97 x | 5.35 x | 4.54 x | 3.97 x |
| EV / EBITDA | 15 x | 10.1 x | 18.1 x | 21.2 x | 22.7 x | 22.4 x | 17.8 x | 15 x |
| EV / FCF | 224 x | 37.6 x | 71.6 x | -59.3 x | -115 x | 33.7 x | 35.3 x | 25.8 x |
| FCF Yield | 0.45% | 2.66% | 1.4% | -1.69% | -0.87% | 2.96% | 2.83% | 3.88% |
| Price to Book | 4.13 x | 3.06 x | 5.44 x | 5.97 x | 4.97 x | 5.56 x | 4.88 x | 4.27 x |
| Nbr of stocks (in thousands) | 193,317 | 193,317 | 193,317 | 193,317 | 193,317 | 193,317 | - | - |
| Reference price 2 | 994.6 | 791.1 | 1,690 | 2,138 | 1,952 | 2,446 | 2,446 | 2,446 |
| Announcement Date | 5/17/19 | 6/20/20 | 5/14/21 | 5/13/22 | 5/27/23 | - | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 52,445 | 47,825 | 57,579 | 82,667 | 98,105 | 90,637 | 104,807 | 117,614 |
| EBITDA 1 | 13,111 | 14,981 | 17,855 | 19,755 | 17,156 | 21,618 | 26,758 | 31,120 |
| EBIT 1 | 9,786 | 11,301 | 15,408 | 15,317 | 11,590 | 15,270 | 19,674 | 23,091 |
| Operating Margin | 18.66% | 23.63% | 26.76% | 18.53% | 11.81% | 16.85% | 18.77% | 19.63% |
| Earnings before Tax (EBT) 1 | 11,830 | 11,228 | 15,310 | 19,545 | 14,512 | 17,213 | 22,700 | 26,636 |
| Net income 1 | 7,820 | 9,450 | 11,554 | 14,107 | 10,787 | 12,885 | 16,834 | 20,125 |
| Net margin | 14.91% | 19.76% | 20.07% | 17.06% | 11% | 14.22% | 16.06% | 17.11% |
| EPS 2 | 40.45 | 48.88 | 59.77 | 72.97 | 55.80 | 66.55 | 85.90 | 102.9 |
| Free Cash Flow 1 | 876.7 | 4,017 | 4,517 | -7,060 | -3,371 | 14,377 | 13,481 | 18,133 |
| FCF margin | 1.67% | 8.4% | 7.84% | -8.54% | -3.44% | 15.86% | 12.86% | 15.42% |
| FCF Conversion (EBITDA) | 6.69% | 26.82% | 25.3% | - | - | 66.51% | 50.38% | 58.27% |
| FCF Conversion (Net income) | 11.21% | 42.51% | 39.09% | - | - | 111.58% | 80.08% | 90.1% |
| Dividend per Share 2 | 8.000 | 20.00 | 17.00 | 40.00 | 16.00 | 19.63 | 25.57 | 29.64 |
| Announcement Date | 5/17/19 | 6/20/20 | 5/14/21 | 5/13/22 | 5/27/23 | - | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 15,046 | 17,459 | 18,131 | 20,498 | 20,300 | 23,739 | 26,463 | 27,043 | 21,423 | 23,176 | 21,200 | 22,039 | 22,957 | 24,022 |
| EBITDA 1 | 4,764 | 5,418 | 5,127 | 5,127 | 4,434 | 4,995 | 4,555 | 4,445 | 2,572 | 4,708 | 4,814 | 5,320 | 5,612 | 5,728 |
| EBIT | 3,744 | 4,384 | 4,043 | 5,445 | 4,405 | 3,828 | 3,293 | 3,105 | 1,123 | 3,194 | - | 3,805 | 3,781 | 4,176 |
| Operating Margin | 24.89% | 25.11% | 22.3% | 26.56% | 21.7% | 16.13% | 12.44% | 11.48% | 5.24% | 13.78% | - | 17.27% | 16.47% | 17.38% |
| Earnings before Tax (EBT) 1 | 4,241 | 4,945 | 4,847 | 5,427 | 4,387 | 4,884 | 4,288 | 5,321 | 1,418 | 3,484 | 4,106 | 4,236 | 4,374 | 4,116 |
| Net income 1 | 3,219 | 3,722 | 3,312 | 3,772 | 3,286 | 3,737 | 3,197 | 4,038 | 996.2 | 2,556 | 3,123 | 3,076 | 3,347 | 3,228 |
| Net margin | 21.39% | 21.32% | 18.27% | 18.4% | 16.19% | 15.74% | 12.08% | 14.93% | 4.65% | 11.03% | 14.73% | 13.96% | 14.58% | 13.44% |
| EPS 2 | 16.65 | 19.26 | 17.13 | 19.51 | 16.99 | 19.33 | 16.54 | 20.89 | 5.150 | 13.22 | 16.15 | 16.13 | 17.15 | 17.50 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 2/8/21 | 5/14/21 | 8/6/21 | 11/11/21 | 2/14/22 | 5/13/22 | 8/4/22 | 11/14/22 | 2/11/23 | 5/27/23 | 8/5/23 | - | - | - |
1INR in Million2INR
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 3,867 | - | - | 5,566 | 11,792 | 12,267 | 3,428 | - |
| Net Cash position 1 | - | 2,031 | 3,248 | - | - | - | - | 5,438 |
| Leverage (Debt/EBITDA) | 0.2949 x | - | - | 0.2817 x | 0.6873 x | 0.5675 x | 0.1281 x | - |
| Free Cash Flow 1 | 877 | 4,017 | 4,517 | -7,060 | -3,371 | 14,377 | 13,481 | 18,133 |
| ROE (net income / shareholders' equity) | 17.8% | 19.5% | 20.9% | 21.8% | 14.9% | 15.9% | 18.2% | 19.1% |
| ROA (Net income/ Total Assets) | 12.7% | 14.4% | 15.6% | 14.9% | 9.33% | 11% | 12.6% | 13.3% |
| Assets 1 | 61,372 | 65,805 | 73,859 | 94,486 | 115,647 | 117,140 | 133,599 | 151,315 |
| Book Value Per Share 2 | 241.0 | 259.0 | 311.0 | 358.0 | 393.0 | 439.0 | 501.0 | 573.0 |
| Cash Flow per Share 2 | - | 60.20 | 70.50 | 45.60 | 73.20 | 177.0 | 60.30 | 215.0 |
| Capex 1 | 7,250 | 7,622 | 9,113 | 15,873 | 17,514 | 9,009 | 7,880 | 7,800 |
| Capex / Sales | 13.82% | 15.94% | 15.83% | 19.2% | 17.85% | 9.94% | 7.52% | 6.63% |
| Announcement Date | 5/17/19 | 6/20/20 | 5/14/21 | 5/13/22 | 5/27/23 | - | - | - |
1INR in Million2INR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +21.86% | 6.47B | |
| +16.08% | 4.75B | |
| +4.45% | 4.71B | |
| +16.48% | 4.53B | |
| +10.68% | 3.83B | |
| +27.29% | 3.72B | |
| +42.39% | 3.1B | |
| +19.29% | 1.9B | |
| +51.95% | 1.74B |
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