Name: Latest research reports of Balkrishna Industries Ltd. authored by ICICI Securities Limited and published by - Trendlyne research reports.
Item: Balkrishna Industries Ltd.
Rating: 5
Author: ICICI Securities Limited

Summary	Date	Stock	Author	LTP	Target	Price at reco (Change since reco%)	Upside(%)	Type	Report	Discuss
	04 Apr 2025	Balkrishna Industries	Consensus Share Price Target	2389.05	2845.11	-	19.09	hold	pdf Detailed Estimates
	14 Feb 2023	Balkrishna Industries	ICICI Securities Limited Target	2389.05	2378.00	2052.25 (16.41%)	Target met	Buy	pdf post cache	Broker Report Sailing through adverse times 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. pdf Copy Link Share on Share on Share on Share on Alert
	13 Feb 2023	Balkrishna Industries	Motilal Oswal Target	2389.05	2035.00	2052.25 (16.41%)	Target met	Neutral	pdf post cache	Broker Report Near-term headwinds to delay margin recovery Motilal Oswal pdf Copy Link Share on Share on Share on Share on Alert
	13 Feb 2023	Balkrishna Industries	Sharekhan	2389.05	2163.00	2025.65 (17.94%)	Target met	Hold	pdf post cache	Broker Report Balkrishna Ind Sharekhan pdf Copy Link Share on Share on Share on Share on Alert
	13 Feb 2023	Balkrishna Industries	Keynote Capitals Ltd Target	2389.05	2339.00	2052.25 (16.41%)	Target met	Buy	pdf post cache	Broker Report Balkrishna Industries Limited Keynote Capitals Ltd Quarterly Update Q3FY23 pdf Copy Link Share on Share on Share on Share on Alert
	13 Feb 2023	Balkrishna Industries	ICICI Direct Reco Target	2389.05	2170.00	2052.25 (16.41%)	Target met	Hold	pdf post cache	Broker Report Balkrishna Industries ICICI Direct pdf Copy Link Share on Share on Share on Share on Alert
	20 Jan 2023	Balkrishna Industries	ICICI Securities Limited Target	2389.05	2549.00	2216.85 (7.77%)	Target met	Buy	pdf post cache	Broker Report QoQ volume decline seems limited at ~5-6% ICICI Securities Limited Our analysis suggests ~5-6% QoQ decline in volume for Balkrishna Industries (BIL), implying ~74-75k ton sales in Q3FY23 vs ~79k ton in Q2FY23. pdf Copy Link Share on Share on Share on Share on Alert
	20 Jan 2023	Balkrishna Industries	Keynote Capitals Ltd	2389.05	2499.00	2225.35 (7.36%)	Target met	Buy	pdf post cache	Broker Report Balkrishna Industries Limited Keynote Capitals Ltd Initiating Coverage Report pdf Copy Link Share on Share on Share on Share on Alert
	01 Dec 2022	Balkrishna Industries	Ashika Research	2389.05	2370.00	2063.80 (15.76%)	Target met	Buy	pdf post cache	Broker Report Ashika - Stock Picks Balkrishna Industries Ltd. - December 2022 Ashika Research pdf Copy Link Share on Share on Share on Share on Alert
	24 Nov 2022	Balkrishna Industries	ICICI Securities Limited	2389.05	2479.00	1946.60 (22.73%)	Target met	Buy	pdf post cache	Broker Report BIL continues to outperform industry exports ICICI Securities Limited Balkrishna Industries (BIL) has reported strong demand trends in its key overseas markets with overall Q2FY23 exports revenue being up 25% YoY (in US$ terms) against industry exports being up 5% YoY. pdf Copy Link Share on Share on Share on Share on Alert
	17 Nov 2022	Balkrishna Industries	KRChoksey Target	2389.05	2205.00	1978.35 (20.76%)	Target met	Accumulate	pdf post cache	Broker Report Short-term headwinds impact volumes; FY23E volume guidance withdrawn KRChoksey For Q2FY23, Balkrishna Industries (BIL) reported revenue of INR 26,575 mn (+28.2% YoY/ +1.5% QoQ). For H1FY23, revenue was INR 52,770 mn, a growth of 36.2% YoY. pdf Copy Link Share on Share on Share on Share on Alert
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29.21% Fall from 52W High

Balkrishna Industries Ltd. share price target

Balkrishna Industries Ltd. has an average target of 2899.50. The consensus estimate represents an upside of 21.37% from the last price of 2389.05. View 12 reports from 6 analysts offering long-term price targets for Balkrishna Industries Ltd..

Sailing through adverse times

Near-term headwinds to delay margin recovery

Balkrishna Ind

Balkrishna Industries Limited

Balkrishna Industries

QoQ volume decline seems limited at ~5-6%

Balkrishna Industries Limited

Ashika - Stock Picks Balkrishna Industries Ltd. - December 2022

BIL continues to outperform industry exports

Short-term headwinds impact volumes; FY23E volume guidance withdrawn

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