Balkrishna Industries Ltd

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NSEBSE

2257.80-36.75 (-1.60%)

03:52 PM,21st Feb 2024

2252.50-30.50 (-1.34%)

04:01 PM,21st Feb 2024

BSE : 502355

NSE : BALKRISIND

Sector : Auto

ISIN Code : INE787D01026

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Last Updated: Feb 21 2024 | 04:01 PM IST

Market Cap (₹ Cr)

43643

Turnover (₹ Cr)

4.72

Volume (Shares)

209004

Face Value

2

52-WK High

2795.50

52-WK High Date

20 Jan 2024

52-WK Low

1908.90

52-WK Low Date

27 Mar 2023

All Time High

2795.50

All Time High Date

20 Jan 2024

All Time Low

0.50

All Time Low Date

16 Apr 2001

Balkrishna Industries Ltd

Headquartered in Mumbai India Balkrishna Industries Limited (BKT) is engaged in the business of manufacturing and selling of Off-Highway Tyres (OHT) in the specialist segments such as Agricultural Industrial & Construction Earthmovers & Port Mining Forestry Lawn & Garden and All-Terrain Vehicles (ATV) Tires. The Company has five state-of-the-art production sites in Aurangabad Bhiwadi Chopanki Dombivali and Bhuj. It operate four subsidiaries in Europe and North America viz. BKT Europe S.r.l. in Seregno Italy BKT Tires USA Inc. in Akron Ohio BKT Tires Canada Inc. in Toronto and BKT Tires Inc. in Brentwood Tennessee. It sells products in 130 countries worldwide through a network of national distributors.Balkrishna Industries Ltd was incorporated on November 20 1961. The Company set up its first plant at Aurangabad in 1987. During the year 2002-03 it acquired the Auto Tyre Plant of Govind Rubber Ltd at Bhiwadi in Rajasthan. During the financial year 2004-05 it launched Tractor Radial Tyres. It expanded production capacity in Bhiwadi unit and Waluj unit to 42000 tpa and 18000 tpa respectively. It installed 5 MW Wind-Farm near Jaisalmer in Rajasthan for captive usage.In February 2005 the company has set up a 100% subsidiary company in UK under the name of BKT (Europe) Ltd to promote sales and marketing of the products of their tyre division in Europe which commenced their business activities on April 1 2005. The company expanded the production capacity in Bhiwadi unit by 3000 tpa to 45000 tpa.In August 30 2006 the company incorporated BKT Europe srl in Italy as a wholly owned subsidiary company and in January 2007 they incorporated BKT Exim Ltd as a wholly owned subsidiary. Also they incorporated Balkrishna Paper Mills Ltd and Balkrishna Synthetic Ltd in March 2007 as wholly owned subsidiary companies to facilitate the transfer of their paper and textile processing business respectively.During the year 2006-07 the company increased the production capacity in Bhiwadi unit from 45000 tpa to 48000 tpa and Waluj unit from 18000 tpa to 22000 tpa. Also the company introduced the product 'Premium Super Chromo Board' in the market.The company has three business activities under their umbrella namely tyre paper and textile processing. The tyre business is a focused business activity of the company that constitutes more than 80% of company's total business and by virtue of this becomes their core business. 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.During the year 2007-08 BKT Tyres Pvt Ltd became the subsidiary of the company. Also BKT (Europe) Ltd and BKT Europe srl ceased to be the subsidiaries of the company due to the disinvestment by the company.In 2009 the company's turnover crossed the Rs 1000 crore milestone. On 3 January 2011 Balkrishna Industries informed the stock exchanges that the company has repaid 4.5% Foreign Currency Convertible Bonds (FCCB) (Series B) of USD 22 million along with redemption premium due thereon on due date i.e.30 December 2010 which was raised by the company during the financial year 2005-2006.During the year 2012-13 Balkrishna Industries carried out a modernization scheme at its existing plants by adding balancing equipments with a view to remove debottlenecking and marginally improve production capacity. The capex cost amounted to Rs 145 crore.The Board of Directors of Balkrishna Industries at its meeting held on 30 January 2014 approved a scheme of arrangement under sections 391 to 394 of the Companies Act 1956 for amalgamation of Balkrishna Paper Mills Limited (a wholly owned subsidiary) with the company and demerger of the Paper board business division together with investment in Balkrishna Synthetics Ltd. on a going concern basis in to Nirvikara Paper Mills Limited. Upon completion of the Scheme Nirvikara Paper Mills Ltd. will issue and allot 1(one) fully paid up equity share of Rs. 10 each for every 9 (nine) equity shares held in the company as on the Record Date to be fixed for this purpose after receipt of all approvals. The proposed scheme of arrangement will re-organize and segregate the paper board business division together with investment in Balkrishna Synthetics Ltd. as a separate listed entity resulting in a focused independent management streamline the operations and provide access to varied sources of raising funds to achieve the growth potential of paper board business. In 2015 the company completed its Greenfield tyre plant project at Bhuj Gujarat.The Board of Directors of Balkrishna Industries at its meeting held on 18 May 2016 approved the Scheme of Amalgamation of its wholly owned subsidiary company M/s. BKT Exim Limited (Transferor Company) into itself under sections 391 to 394 and any other applicable provisions of the Companies Act 1956 and Companies Act 2013 to the extent notified and applicable (the Scheme).The Board of Directors of Balkrishna Industries at its meeting held on 29 July 2017 approved the setting up of a Carbon Black project as a backward integration project at its Bhuj Plant with an initial annual capacity of 60000 MTs at an estimated capital outlay of Rs 150 crore.The Board of Directors of Balkrishna Industries at its meeting held on 11 November 2017 recommended the issue of Bonus Shares in the ratio of one bonus equity share for every one existing equity share held on record date.On 27th December 2017 the Company has allotted 96658595 Equity Shares of Rs 2 each as fully Paid Up Bonus Shares in the ratio of 1:1 to all registered Shareholders as on record date by Capitalisation of Reserves.The Hon'ble National Company Law Tribunal (NCLT) Mumbai bench has sanctioned the Scheme of Amalgamation of BKT EXIM Limited (100% wholly owned Subsidiary Company) with Balkrishna Industries Limited on 24th January 2018 and a copy of the NCLT order was received by the Company on 9th February 2018 which the Board has taken on Record. The appointment date of the scheme was 1st April 2015.As on 31 March 2018 the Company had following wholly owned subsidiary companies namely BKT Tyres Limited Thristha Synthetics Limited and following Overseas Subsidiary Companies namely BKT EUROPE S.R.L. BKT USA INC BKT TIRES (CANADA) INC. BKT EXIM US INC and subsidiary of BKT EXIM US INC - BKT TIRES INC.The Company had started the Carbon Project during the financial year 2017-18 with a capacity of 60000 MTs p.a. The company revised the said capacity to 140000 MTs p.a during the financial year under consideration. The total capital outlay for full capacity of 140000 MTs is estimated at Rs 42500 Lakhs. The first phase of project of 60000 MTs is almost complete and company is in the process of giving a finishing touch to it and hoping to commence commercial production by end of June 2019. The second phase of 80000 MTs capacity is likely to be completed by financial year 2020-21.The Company have approved a Capex plan for setting up a Greenfield tire plant in United State of America (USA) with a capacity of 20000 MTs p.a through its wholly owned subsidiary company in USA. The board has approved total investment upto USD 100 million.After reviewing various aspects of the project in the backdrop of various challenging economic and business environment the Board of the Directors at their meeting held on 8th February 2021 decided to shelve the project.During the year 2018-19 Thristha Synthetics Limited the wholly owned subsidiary of your Company incorporated in year 2013 has voluntarily made an application with the Registrar of Companies (ROC) Mumbai Ministry of Corporate Affairs for striking off its name from the records of ROC.As on 31 March 2019the Company had following wholly owned subsidiary companies namely BKT Tyres Limited and following Overseas Subsidiary Companies namely BKT EUROPE S.R.L. BKT USA INC BKT TIRES (CANADA) INC. BKT EXIM US INC and subsidiary of BKT EXIM US INC - BKT TIRES INC.The Second phase of the Carbon Black project was completed on 12th March 2020 with a capacity of 80000 tons per annum. The first Phase of 60000 tons per annum capacity was already completed in the month of June 2018. The Green Field Tire project at Waluj Plant was progressing as per schedule however due to COVID-19 the work was temporarily shut from 25th March 2020. The project work resumed after the lockdown was lifted. Thereafter the project work resumed gradually after the lockdown was lifted. Considering the present uncertain situation this project is expected to be completed by 30th September 2021.The various activities such as setting up of ultra large sized all steel OTR Radial Tire Plant expansion of mixing facility and setting up of a warehouse at Bhuj plant were progressing as per schedule. However due to COVID-19 the work was temporarily shut from 25th March 2020. The project work resumed after the lockdown was lifted. Expansion of mixing facility and enhancing the warehousing capacity has been completed and setting up of ultra large sized all steel OTR Radial Tire Plant is completed and undergoing final trial run.As on 31 March 2021 the Company had one Domestic and Four Overseas Wholly Owned Subsidiary Companies (WOS). The domestic WOS is known as BKT Tires Limited and the Overseas WOS are BKT EUROPE S.R.L. BKT USA INC BKT TIRES (CANADA) INC. BKT EXIM US INC. The Company also has one step down subsidiary in the name of BKT Tires Inc. based in USA which is a 100% subsidiary of BKT Exim US INC.During FY 2020-21 Company commenced set up of Brownfield and Debottlenecking project along with addition of balancing and ancillary equipment at their plant located at Bhuj. It embarked to enhance the installed capacity of Carbon Black from an achievable capacity 115000 MTPA to 200000 MTPA including 30000 MTPA of high value of advanced carbon black material. It completed expansion of mixing facility and enhancing the warehousing capacity. It commissioned setting up of ultra large sized all steel OTR Radial Tire Plant which is presently undergoing trial run.During year 2022-23 the Company expanded the capacity to manufacture Carbon Black from 115000 MTPA to 200000 MTPA in December 2022 leading to an increase in the capacity of power generation in Captive Power Plant. It commissioned modernization automation and technology upgradation at its Bhiwadi Chopanki and Bhuj Plants. The expansion capacity of 55000 MTPA at new Waluj Plant was completed.

Balkrishna Industries Ltd - Key Fundamentals

PARAMETER VALUES
Market Cap (₹ Cr)

43643

EPS - TTM (₹) [S]

62.71

P/E Ratio (X) [S]

5.30

Face Value (₹) 2
Latest Dividend (%)200.00
Latest Dividend Date 02 Feb 2024
Dividend Yield (%) 0.71
Book Value Share (₹) [S]425.69
P/B Ratio (₹) [S]5.30
[*C] Consolidated [*S] Standalone

Funds Owing this Stock

Scheme Name Amount Invested ( ₹ Cr ) No Of Shares Net Asset (%)
HDFC Mid-Cap Opportunities Fund (G) 1201.99 4897599 2.04
HDFC Mid-Cap Opportunities Fund (IDCW) 1201.99 4897599 2.04
HDFC Mid-Cap Opportunities Fund - Direct (IDCW) 1201.99 4897599 2.04
HDFC Mid-Cap Opportunities Fund - Direct (G) 1201.99 4897599 2.04
Parag Parikh Flexi Cap Fund (G) 1028.10 4189074 1.87
Parag Parikh Flexi Cap Fund - Direct (G) 1028.10 4189074 1.87
Kotak Flexi Cap Fund (G) 638.11 2600000 1.44
Kotak Flexi Cap Fund (IDCW) 638.11 2600000 1.44
Kotak Flexi Cap Fund - Direct (G) 638.11 2600000 1.44
Kotak Flexi Cap Fund - Direct (IDCW) 638.11 2600000 1.44

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Research Reports

Date BrokerActionPrices(Rs)Report
17-07-2023Emkay Not Rated 2285
09-03-2023ICICI Securities Buy 2058
17-11-2022Anand Rathi Buy 1920
10-08-2022Nirmal Bang Buy 2163
16-05-2022Anand Rathi Buy 2127

Stock Strength

Today's Low/High

2251.00

2312.00

Week Low/High

2251.00

2374.00

Month Low/High

2251.00

2796.00

Year Low/High

1908.90

2796.00

All time Low/High

0.58

2796.00

Share Price Returns

Period BSENSE SENSEXNIFTY
1 Week-4.06%-3.97%1.110.98%
1 Month-18.29%-18.38%1.682.24%
3 Month-8.46%-8.45%10.1511.48%
6 Month-5.23%-5.22%11.3613.72%
1 Year10.10%9.97%19.7023.72%
3 Year45.64%45.64%42.7147.21%

Company Info

Company Information

Chairman & Managing Director : Arvind Poddar

Joint Managing Director : Rajiv Poddar

Whole-time Director & CS : Vipul Shah

Director : Vijaylaxmi Poddar

Independent Director : Pannkaj Chimanlal Ghadiali

Independent Director : Shruti Shah

Independent Director : Sandeep Junnarkar

Independent Director : Rajendra Hingwala

Additional Director : Rahul Dutt

Independent Director : Laxmidas Merchant

Registered Office: B-66 Walu MIDC, Waluj Industrial Area,Aurangabad.,Maharashtra-431136 Ph: 91-0240-6646950/66663800

Email:shares@bkt-tires.com

URL:http://www.bkt-tires.com