Balkrishna Industries Ltd. reported a 7.4% rise in its revenue for the second quarter of fiscal 2025.
It posted revenue at Rs 2,419.74 crore as compared to Rs 2,253.19 crore for the same quarter of the previous financial year 2024. The company recorded a stable profit of Rs 346.94 crore.
The tyre manufacturing company posted earnings before interest, taxes, depreciation, and amortisation of Rs 579.79 crore, indicating 9% growth as against Rs 532.71 crore for the same period last year. Its margin widened to 24% from 23.6%.
Balkrishna Industries Q2 Highlights (Consolidated, YoY)
Revenue up 7.4% to Rs 2,419.74 crore versus Rs 2,253.19 crore.
Net profit flat at to Rs 346.94 crore.
Ebitda up 9% to Rs 579.79 crore versus Rs 532.71 crore.
Margin at 24.0% versus 23.6%
The Mumbai-based firm announced its second interim dividend of Rs 4 per equity share at a face value of Rs 2 each for the financial year 2024-25, aggregating the amount for the dividend to Rs 7733 lakhs.
The interim dividend will be credited to the eligible shareholders within 30 days from the date of declaration. The record day for the same is set on Nov. 2, 2024.
Additionally, the company has concluded its advanced carbon black project of 30,000 million tonnes per annum at Bhuj. Also, the first phase of the new off-road ties project of 35,1110 MTPA at Bhuj is expected to be completed by the first half of fiscal 2026.
Shares of Balkrishna Industries closed 1.10% lower at Rs 2,907.55 apiece on the National Stock Exchange, compared to a 0.9% fall in the benchmark Nifty 50. The stock has risen 12.14% in the last 12 months and 13.2% on a year-to-date basis.
Out of the 24 analysts tracking the company, nine maintain a 'buy' rating on the stock, six recommend 'hold' and nine suggest 'sell', according to Bloomberg data. The average of 12-month analysts' consensus price targets implies a potential downside of 1.4%.
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