Balkrishna Inds deflates after muted rise in Q3 net profit

Balkrishna Industries fell 1.36% to Rs 1,162.95 at 13:01 IST on BSE after net profit rose 2% to Rs 190 crore on 26% rise in total income to Rs 1161 crore in Q3 December 2017 over Q3 December 2016.

The results were announced after market hours yesterday, 14 February 2018.

Meanwhile, the S&P BSE Sensex was up 294.55 points, or 0.86% to 34,450.50

On the BSE, 22,000 shares were traded on the counter so far as against the average daily volumes of 36,726 shares in the past one quarter. The stock hit a high of Rs 1,188.10 and a low of Rs 1,114.40 so far during the day. The stock had hit a record high of Rs 1,285.63 on 18 December 2017. The stock had hit a 52-week low of Rs 572.80 on 16 February 2017.

The stock had outperformed the market over the past 30 days till 14 February 2018, rising 2.15% compared with 1.77% fall in the Sensex. The scrip also outperformed the market in past one quarter, gaining 13.93% as against Sensex's 3.17% rise. The scrip also outperformed the market in past one year, surging 103.12% as against Sensex's 21.31% rise.

The large-cap company has equity capital of Rs 38.66 crore. Face value per share is Rs 2.

Balkrishna Industries' earnings before interest, taxation, depreciation and amortization (EBITDA) rose 14% to Rs 352 crore in Q3 December 2017 over Q3 December 2016. EBITDA margin contracted to 30.3% in Q3 December 2017 from 33.4% in Q3 December 2016.

Balkrishna Industries is a leading manufacturer in the off-highway tire market. The company has focused on specialist segments such as agricultural, construction and industrial vehicles as well as earthmoving, port and mining, ATV, and gardening applications.

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