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Agri demand gives tyre maker Balkrishna Industries firm grip in FY21

Gain in market share, strong balance sheet are other positives

tyre, tyres, rubber
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While the management did not give a guidance, it indicated that if there are no further demand issues, performance in FY21 would be similar to FY20.

Ram Prasad Sahu
After a strong performance in the March quarter (Q4), off-the-road tyremaker Balkrishna Industries is expected to gain from robust demand in the agriculture segment across its key markets. Despite the lockdown towards the end of March, the company posted record quarterly sales volumes led by Europe, which accounted for 58 per cent of its revenues in the quarter. 

While the firm posted volume growth of 5 per cent, revenues in Q4 were at similar levels as the year-ago quarter, given the product mix and discounts in the European market The firm passed on some of the gains from raw material costs

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First Published: Jun 22 2020 | 7:03 PM IST

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