Balkrishna Industries Limited: Q3 FY 2018-19 Numbers
Balkrishna Industries Limited, a tyre manufacturing firm in India, has presented its quarter three FY 2018-19 numbers today when the market closed. The company has a weak set of numbers for the quarter under review.
The Company’s revenue for the quarter ended 31 December 2018 stood at INR 1206.56 Cr as against INR 1184.05 Cr same period last year, registered a modest 1.90 percent increase year-on-year basis.
Company’s QoQ revenues declined by 14.81% the same was INR 1416.34 Cr for the quarter ended September 2018.
The Company’s PAT for October to December ’18 quarter stood at INR 144.70 Cr vs INR 189.50 Cr decreased by 23.64% YoY basis, the quarter-on-quarter revenue declined by 34.90% ( INR 222.31 Cr )
The Company’s profitability got a hit because of a couple of reasons; (1) higher raw material prices ( INR 553.73 Cr vs INR 500.22 Cr YoY ) employee benefit expenses ( INR 68 Cr vs INR 61 Cr ) and other expenses which stood at INR 283.81 CR versus INR 250 Cr.
The Board of the company has declared a 3rd interim dividend of INR 2.00 per Equity Share (100%) on the Equity Shares of INR 2 each (face value) for the financial year 2018-2019.
Headquartered in Mumbai, India, Balkrishna Industries Limited (BKT) is the world’s premier manufacturer of pneumatic tyres for special applications.
History: Started in the year 1961, Balkrishna Industries has successfully focused on specialist segments such as industrial vehicles, construction, and agricultural as well as earthmoving, port and mining, ATV, and gardening applications.
Business: BKT has developed into a global player in the Off-Highway tyre industry with a 6 percent market share and a sales volume of 850 million US dollars corresponding to a 30 percent increase over the last 5 years.
Product Portfolio: The Company has 3 business activities namely (1) Tyre, (2) Paper, and (3) Textile Processing;
The Tyre business is a focused business activity of the company and in order to pay more attention to their various business activities, the company transferred their Paper business and Textile Processing business to their wholly owned subsidiaries, Balkrishna Paper Mills Ltd and Balkrishna Synthetic Ltd respectively with effect from April 1, 2007.
Stock Price Movement
The stock ended nearly 40 rupees or 5 percent lower to INR 761 when the market closed on Friday! During the quarter ended 31st December 2018, the share prices of Balkrishna Industries has made a low of INR 854 and high of INR 1190
Balkrishna Industries on Technical Charts
The stock prices of Balkrishna Industries Limited is trading 24.60% lower when compared to its 200 EMA (1008) and trading 13.64% lower when compared to its 50 EMA (880)
Average Return
The stock has given -39.20% returns over the past 6 months and -32.75% returns over the last 12 months.
Balkrishna Industries current market cap is more than INR 14700 Cr and trading at a PE ratio of 18
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