Balkrishna Industries Ltd.

NSE: BALKRISIND · Tyres & Rubber Products

52W Range₹1,970 ₹2,775

Snapshot

Unlock Balkrishna Industries Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Balkrishna Industries Limited is a global manufacturer specialising in off-highway tyres for agricultural, industrial, construction, and mining applications. The company also produces rubber tubes and carbon black products, distributing its portfolio through an extensive international network.

Business Model

The company generates revenue primarily through the manufacturing and sale of specialised off-highway tyres and related rubber products. It operates a global distribution model, supplying equipment manufacturers and aftermarket segments across diverse sectors.

  • Incorporation Year:1961

Growth Outlook

Growth is driven by sustained demand in the global agricultural and industrial sectors, alongside the expansion of its specialised tyre product range. The company continues to leverage its manufacturing capabilities to maintain its competitive position in the off-highway vehicle market.

Key Risks

  • Raw Material Price Volatility. Fluctuations in the prices of natural rubber and crude oil derivatives significantly impact production costs and profit margins.
  • Geopolitical and Trade Risks. As a global exporter, the company is susceptible to changes in international trade policies, tariffs, and geopolitical instability in key markets.
  • Currency Exchange Risk. Significant exposure to foreign currency fluctuations can affect the company's financial performance due to its heavy reliance on export revenues.
  • Cyclical Demand. Demand for off-highway tyres is closely linked to the cyclical nature of the global agriculture, mining, and construction industries.

Price

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Key Metrics

REVENUE

₹10,823 Cr

TTM · consolidated

+3.6%YoY

NET PROFIT

₹1,243 Cr

TTM · consolidated

-24.9%YoY

EPS

₹64.30

TTM · consolidated

-24.9%YoY

RETURN ON EQUITY

11.8%

TTM · consolidated

-6.1 ppYoY

RETURN ON CAPITAL EMPLOYED

15.2%

TTM · consolidated

-7.1 ppYoY

P/E

33.4x

Q4 FY26 · consolidated

33.4 vs 30.8x5Y avg

EV/EBITDA

17.8x

Q4 FY26 · consolidated

17.8 vs 17.9x5Y avg

EBITDA MARGIN

23.6%

TTM · consolidated

-5.1 ppYoY

NET PROFIT MARGIN

10.2%

Q4 FY26 · consolidated

-3.2 ppYoY

DEBT TO EQUITY

0.4%

Q4 FY26 · consolidated

+0.1 ppYoY

Peers · Tyres & Rubber Products

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Balkrishna Industries Ltd.BALKRISIND
40,05833.3617.833.6%23.6%11.8%15.2%-19.1%
MRF Ltd.MRF
54,37323.0310.7110.6%17.3%12.7%16.9%-13.8%
Apollo Tyres Ltd.APOLLOTYRE
25,89319.946.799.0%15.0%9.0%8.4%-5.1%
Ceat Ltd.CEATLTD
13,97522.168.8418.6%13.3%15.4%20.6%-1.2%
JK Tyre & Industries Ltd.JKTYRE
11,58715.207.9611.1%12.8%15.1%16.0%+14.5%
TVS Srichakra LimitedTVSSRICHAK
2,67345.0713.4712.0%8.1%6.0%9.3%+28.3%

As of Q4 FY26

Financials