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Motilal Oswal Report
Balkrishna Industries Ltd.’s overall performance was healthy in Q1 FY25, led by volume growth and lower operating expenses. However, the management has guided for a muted outlook as demand is likely to moderate and raw material and freight costs are likely to increase in the coming quarters, which will dent overall margins.
In the light of these challenges, we cut our FY25/FY26 EPS estimates by ~4% each. We maintain our Neutral rating with a target price of Rs 2,770, based on ~24 rimes June-26E earnings per share.
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