The company’s consolidated revenue was up 35.55 percent at Rs 2,045.81 crore for December quarter versus Rs 1,509.23 crore a year earlier.
Balkrishna Industries
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// else // $ (‘#toptitleTXT’).html(tickTxt+typevar+’already exists in your watchlist’); // //} } //$ (‘.accdiv’).html(”); //$ (‘.accdiv’).html(appndStr); } }, //complete:function(d){ // if(typparam1==1) // { // watchlist_popup(‘open’); // } //} }); }); } else { var disNam =’stock’; if($ (‘#impact_option’).html()==’STOCKS’) disNam =’stock’; if($ (‘#impact_option’).html()==’MUTUAL FUNDS’) disNam =’mutual fund’; if($ (‘#impact_option’).html()==’COMMODITIES’) disNam =’commodity’; alert(‘Please select at least one ‘+disNam); } } else { AFTERLOGINCALLBACK = ‘overlayPopup(‘+e+’, ‘+t+’, ‘+n+’)’; commonPopRHS(); /*work_div = 1; typparam = t; typparam1 = n; check_login_pop(1)*/ } } function pcSavePort(param,call_pg,dispId) { var adtxt=”; if(readCookie(‘nnmc’)){ if(call_pg == “2”) { pass_sec = 2; } else { pass_sec = 1; } var url = ‘//www.moneycontrol.com/mccode/common/saveWatchlist.php’; $ .ajax({url:url, type:”POST”, //data:{q_f:3,wSec:1,dispid:$ (‘input[name=sc_dispid_port]’).val()}, data:{q_f:3,wSec:pass_sec,dispid:dispId}, dataType:”json”, success:function(d) { //var accStr= ”; //$ .each(d.ac,function(i,v) //{ // accStr+=”+v.nm+”; //}); $ .each(d.data,function(i,v) { if(v.flg == ‘0’) { var modalContent = ‘Scheme added to your portfolio.’; var modalStatus = ‘success’; //if error, use ‘error’ $ (‘.mc-modal-content’).text(modalContent); $ (‘.mc-modal-wrap’).css(‘display’,’flex’); $ (‘.mc-modal’).addClass(modalStatus); //$ (‘#acc_sel_port’).html(accStr); //$ (‘#mcpcp_addportfolio .form_field, .form_btn’).removeClass(‘disabled’); //$ (‘#mcpcp_addportfolio .form_field input, .form_field select, .form_btn input’).attr(‘disabled’, false); // //if(call_pg == “2”) //{ // adtxt =’ Scheme added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //else //{ // adtxt =’ Stock added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //$ (‘#mcpcp_addprof_info’).css(‘background-color’,’#eeffc8′); //$ (‘#mcpcp_addprof_info’).html(adtxt); //$ (‘#mcpcp_addprof_info’).show(); 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Balkrishna Industries share price rose nearly 2 percent intraday on February 16. The company had reported better numbers for the quarter ended December.
Balkrishna Industries on February 14 reported a 4.2 percent jump in its Q3FY22 consolidated net profit at Rs 338.95 crore against Rs 325.07 crore in the same quarter last year.
Consolidated revenue was up 35.55 percent at Rs 2,045.81 crore versus Rs 1,509.23 crore a year ago.
The board has declared a third interim dividend of Rs 4 per share (200 percent) on shares of Rs 2 (face value) for the financial year 2021-2022.
In addition, a special dividend of Rs 12 per share (600 percent) on shares of Rs 2 each (face value) on the occassion of diamond jubliee year, that is, 60th year of the company, has been declared by the board for financial year 2021-22.
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Here is what brokerages have to say about the stock and the company after December quarter earnings:
Citi
The research firm has kept a buy rating on the stock and cut the target to Rs 2,620 per share.
Cost pressures offset healthy demand, while escalated cost pressures are impediments to near-term margin expansion.
The company management reiterated longer term Ebitda margin target of 28-30 percent.
Nomura
The broking house upgraded the stock to neutral and raised the target price to Rs 2,246 per share.
There is a strong demand outlook, while cost headwinds remain. The valuations are in fair value zone.
The company expects another 2-3 percent cost increase in Q4.
Nomura maintains its target of 28-30 percent margin over the medium term.
Motilal Oswal
Motilal Oswal expects company’s outperformance in the speciality tyre industry to continue, driven by expansion of its product portfolio and ramp-up in the OTR (off the road) segment, with scope to strengthen its competitive positioning.
Current valuations fairly reflect industry-leading margin, free cash flow, and capital efficiencies.
The firm currently trades at a P/E multiple of 25.6x/22.9x FY23E/FY24E EPS. Valuing the firm at 25x Mar’24E EPS (at a 25%/80% premium to its five/10-year average P/E), Motilal Oswal arrived at the target price of Rs 2,320. “We maintain our neutral rating,” it said.
At 09:21 hrs Balkrishna Industries was quoting at Rs 2,141, up Rs 14.90 or 0.70 percent on the BSE.
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