Balkrishna Industries Ltd. share price target

BKT has developed into a global player in the Off-Highway tire industry with a 6% market share and a sales volume of 850 Million US dollars corresponding to a 30% increase over the last 5 years. BKT have 4 subsidiaries in Europe and North America assisting our head office in sales and marketing activities....

Weak Agri Demand in Europe Continues to Impact Volume: Balkrishna reported sales volume of 46780 MT for Q3FY19 which came below our estimate of 48000 MT

Global growth concerns persisted with disappointing PMI data, muted business spending in US, uncertainty over Brexit and US-China trade deal. Both BoE and European Commission raised concerns over growth. As a result, global yields closed lower. On the domestic front, RBI surprised positively with a rate cut (4-2 vote) and unanimous decision to change its stance to neutral from...

Balkrishna Industries (BIL) posted muted Q3FY19 results Revenues came in at | 1,206 crore (up 9.0% YoY, down 9.0% QoQ). The company disappointed on the volume front (46,780 tonne; down 5.6% YoY). However, it said ASPs were up 9.0% YoY EBITDA inched up 3.8% YoY to | 301 crore, with margins at 25.0% (down 125 bps YoY & 14 bps QoQ). This was mainly due to higher...

Balkrishna Industries (BIL) numbers were below estimates on all fronts. Volume hit in the quarter was mainly due to Europe and is expected to recover from the ongoing quarter. Operating performance was further impact due to increased branding expenditure to the tune of ` 160 mn....

Weak Agri Demand in Europe Impacts Revenue Estimate: Balkrishna reported sales volume of 52339 MT for Q2FY19 which came below ourestimate of 56000 MT.

ICICI Securities Ltd | Retail Equity Research Balkrishna Industries' (BIL) revenues grew 18.9% YoY to | 1,325 crore (vs. estimate of | 1,424 crore). Volumes grew 6.1% YoY to 52,339 metric tonnes (MT) (vs. expectation of 56,237 MT) EBITDA increased 9.1% YoY to | 333 crore vs. our expectation of | 411 crore. EBITDA margins came in at 25.1% (down 226 bps YoY & 115 bps QoQ) below our estimate of 28.8%, mainly due to higher other expense that increased 548 bps YoY & 167 bps QoQ...

Balkrishna Industries (BIL) reported standalone revenues of Rs 13.3bn (+19% YoY) in Q2FY19, led by a 6% rise in tonnage volumes and higher realisations. EBITDA/adj. PAT grew 9%/10% YoY to Rs 3.3bn/Rs 2.2bn. Management reduced its FY19 sales volume guidance by 4-7%, citing a temporary slowdown in European markets due to drought. We pare FY19-FY21 earnings marginally to factor in lower volumes in FY19 and a slight increase in tax rate, translating...

We met the management of Balkrishna Industries (BIL) to discuss the company's capital expansion plans. Key takeaways: Capex of Rs 27bn planned over three years, US plant to enhance branding, US operations unlikely to be...

ICICI Securities Ltd | Retail Equity Research The Board of Directors of Balkrishna Industries (BIL) has approved a capex outlay of ~| 1,700 crore, which will be completed over 30 months. Of the total capex, 1) | 700 crore is for setting up a greenfield tyre plant with capacity of 20,000 MT in US, 2) | 500 crore will be spent in Waluj where BIL will replace the existing plant with a new state-of-the-art facilities (co-generation plant & warehousing facilities) that will bring operational efficiencies to existing operations and 3) | 500 crore is...