Balkrishna Industries Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for BALKRISIND, BSE:502355 Balkrishna Industries Ltd.

Balkrishna Industries Ltd.

29 Apr 2023

2649.80

-0.21%

Another quarter of destocking still left

Buy: Balkrishna Industries Ltd.

Target

ICICI Securities Limited

Indian OHT exports declined for the third quarter in a row in Q4FY23, from the highs of Q1FY23, as with the easing of container supplies, distributors in target markets started cutting down inventory from elevated ~120 days to targeted levels of ~60 days.

Balkrishna Industries Ltd. is trading below its 200 day SMA of 2691.1

Balkrishna Industries Ltd.

27 Mar 2023

2649.80

-0.21%

Weakness to linger for a couple of more quarters

Buy: Balkrishna Industries Ltd.

ICICI Securities Limited

Industry OHT exports remained subdued in Jan’23, closer to Oct’22 lows, post spiking up in the seasonally strong Dec’23. Overall OHT export revenues were down 9% YoY in Jan’23 (up 6% FY23-TD) with the agri tyre segment down 12% YoY vs OTR down 3% YoY.

Number of FII/FPI investors increased from 542 to 562 in Mar 2025 qtr.

Balkrishna Industries Ltd.

08 Mar 2023

2649.80

-0.21%

India’s OHT exports on gradual recovery path

Buy: Balkrishna Industries Ltd.

ICICI Securities Limited

Post stocking up of off-highway tyre (OHT) inventory at distributor level in end- markets between Mar-Jul’22, India’s OHT exports from Aug’22 were muted as a result of destocking amid improving container availability. OHT exports from the country bottomed out in Oct’22 at ~US$130mn vs Mar-Jul’22 average of ~US$170mn and recovered to a 5-month high of US$152mn in Dec’22.

Balkrishna Industries Ltd. is trading above its 150 day SMA of 2625.5

Balkrishna Industries Ltd.

14 Feb 2023, 12:00AM

2649.80

-0.21%

Sailing through adverse times

Buy: Balkrishna Industries Ltd.

Target

ICICI Securities Limited

Balkrishna Industries’ (BIL) Q3FY23 EBITDAM, adjusted for forex losses, came in at ~16%, ~400bps lower QoQ. EBITDAM decline was due to GM decline of ~430bps QoQ on the back of removal of surcharge on ASP of CIF exports by ~6%. This coincided with the usage of higher cost raw material inventory and gradual transition towards falling container contracts.