Balkrishna Industries Ltd: Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: May 15, 2025, 10:06 pm

Market Cap	52,208 Cr.
Current Price	2,699
High / Low	3,378/2,152
Stock P/E	29.4
Book Value	486
Dividend Yield	0.59 %
ROCE	17.6 %
ROE	17.6 %
Face Value	2.00
PEG Ratio	3.45

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for Balkrishna Industries Ltd

Competitors of Balkrishna Industries Ltd

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Goodyear India Ltd	2,163 Cr.	938	1,260/806	47.0	255	1.60 %	22.0 %	16.0 %	10.0
TVS Srichakra Ltd	2,308 Cr.	3,002	4,900/2,430	54.9	1,404	1.58 %	11.1 %	10.6 %	10.0
JK Tyre & Industries Ltd	9,319 Cr.	340	511/232	15.4	172	1.32 %	19.3 %	20.6 %	2.00
Innovative Tyres & Tubes Ltd	10.2 Cr.	5.65	10.2/4.75		9.21	0.00 %	26.6 %	%	10.0
CEAT Ltd	15,839 Cr.	3,917	3,963/2,262	32.1	1,080	0.77 %	15.0 %	11.7 %	10.0
Industry Average	18,726.17 Cr	1,625.95		33.88	519.74	1.02%	17.57%	14.20%	6.43

All Competitor Stocks of Balkrishna Industries Ltd

Quarterly Result

Metric	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Sales	2,046	2,374	2,619	2,658	2,166	2,317	2,159	2,253	2,274	2,682	2,714	2,420	2,560
Expenses	1,589	1,871	2,175	2,231	1,896	1,837	1,658	1,720	1,734	2,001	2,051	1,840	1,960
Operating Profit	457	503	444	426	269	480	501	533	541	681	664	580	601
OPM %	22%	21%	17%	16%	12%	21%	23%	24%	24%	25%	24%	24%	23%
Other Income	113	109	106	227	45	57	106	107	66	171	162	90	187
Interest	2	3	3	5	14	26	22	24	36	31	22	41	16
Depreciation	118	120	129	137	149	156	155	160	161	174	163	166	173
Profit before tax	450	490	417	511	151	355	430	456	409	647	640	463	600
Tax %	25%	24%	26%	25%	28%	27%	23%	24%	25%	25%	23%	25%	25%
Net Profit	339	375	307	382	108	260	332	347	305	487	490	347	449
EPS in Rs	17.53	19.39	15.88	19.77	5.61	13.44	17.17	17.97	15.80	25.18	25.35	17.95	23.25

Last Updated: February 28, 2025, 8:28 pm

Below is a detailed analysis of the quarterly data for Balkrishna Industries Ltd based on the most recent figures (Dec 2024) and their trends compared to the previous period:

For Sales, as of Dec 2024, the value is 2,560.00 Cr.. The value appears strong and on an upward trend. It has increased from 2,420.00 Cr. (Sep 2024) to 2,560.00 Cr., marking an increase of 140.00 Cr..
For Expenses, as of Dec 2024, the value is 1,960.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 1,840.00 Cr. (Sep 2024) to 1,960.00 Cr., marking an increase of 120.00 Cr..
For Operating Profit, as of Dec 2024, the value is 601.00 Cr.. The value appears strong and on an upward trend. It has increased from 580.00 Cr. (Sep 2024) to 601.00 Cr., marking an increase of 21.00 Cr..
For OPM %, as of Dec 2024, the value is 23.00%. The value appears to be declining and may need further review. It has decreased from 24.00% (Sep 2024) to 23.00%, marking a decrease of 1.00%.
For Other Income, as of Dec 2024, the value is 187.00 Cr.. The value appears strong and on an upward trend. It has increased from 90.00 Cr. (Sep 2024) to 187.00 Cr., marking an increase of 97.00 Cr..
For Interest, as of Dec 2024, the value is 16.00 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 41.00 Cr. (Sep 2024) to 16.00 Cr., marking a decrease of 25.00 Cr..
For Depreciation, as of Dec 2024, the value is 173.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 166.00 Cr. (Sep 2024) to 173.00 Cr., marking an increase of 7.00 Cr..
For Profit before tax, as of Dec 2024, the value is 600.00 Cr.. The value appears strong and on an upward trend. It has increased from 463.00 Cr. (Sep 2024) to 600.00 Cr., marking an increase of 137.00 Cr..
For Tax %, as of Dec 2024, the value is 25.00%. The value remains steady. There is no change compared to the previous period (Sep 2024) which recorded 25.00%.
For Net Profit, as of Dec 2024, the value is 449.00 Cr.. The value appears strong and on an upward trend. It has increased from 347.00 Cr. (Sep 2024) to 449.00 Cr., marking an increase of 102.00 Cr..
For EPS in Rs, as of Dec 2024, the value is 23.25. The value appears strong and on an upward trend. It has increased from 17.95 (Sep 2024) to 23.25, marking an increase of 5.30.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: March 7, 2025, 9:07 pm

Metric	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	3,390	3,768	3,813	3,237	3,723	4,444	5,210	4,811	5,783	8,295	9,760	9,369	10,376
Expenses	2,721	2,878	3,086	2,371	2,592	3,341	3,904	3,537	3,972	6,286	8,047	7,113	7,851
Operating Profit	669	890	727	866	1,131	1,103	1,306	1,274	1,811	2,009	1,712	2,256	2,525
OPM %	20%	24%	19%	27%	30%	25%	25%	26%	31%	24%	18%	24%	24%
Other Income	5	14	277	131	254	340	215	250	171	438	342	449	610
Interest	28	27	48	40	22	15	12	11	12	9	48	113	110
Depreciation	112	170	244	282	304	311	333	374	416	455	571	651	677
Profit before tax	534	706	713	674	1,059	1,116	1,177	1,140	1,555	1,982	1,435	1,941	2,349
Tax %	34%	33%	34%	34%	32%	34%	34%	16%	24%	28%	26%	24%
Net Profit	350	475	473	446	717	736	774	960	1,178	1,435	1,057	1,471	1,773
EPS in Rs	18.10	24.55	24.45	23.06	37.08	38.06	40.02	49.64	60.91	74.25	54.70	76.12	91.73
Dividend Payout %	4%	4%	5%	12%	11%	21%	20%	40%	28%	38%	29%	21%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2013-2014	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	35.71%	-0.42%	-5.71%	60.76%	2.65%	5.16%	24.03%	22.71%	21.82%	-26.34%	39.17%
Change in YoY Net Profit Growth (%)	0.00%	-36.14%	-5.29%	66.47%	-58.11%	2.51%	18.87%	-1.32%	-0.89%	-48.16%	65.51%

Balkrishna Industries Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:	10%
5 Years:	12%
3 Years:	17%
TTM:	15%

Compounded Profit Growth
10 Years:	12%
5 Years:	14%
3 Years:	7%
TTM:	42%

Stock Price CAGR
10 Years:	22%
5 Years:	23%
3 Years:	8%
1 Year:	5%

Return on Equity
10 Years:	18%
5 Years:	18%
3 Years:	18%
Last Year:	18%

Last Updated: Unknown

Balance Sheet

Last Updated: November 15, 2024, 1:38 am

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	19	19	19	19	19	39	39	39	39	39	39	39	39
Reserves	1,424	1,876	2,257	2,756	3,524	4,045	4,615	4,970	5,961	6,894	7,518	8,815	9,360
Borrowings	2,164	2,439	2,358	1,898	1,391	867	871	932	1,001	2,529	3,347	3,099	3,122
Other Liabilities	544	688	685	725	855	927	954	866	1,166	1,517	1,444	1,731	1,981
Total Liabilities	4,151	5,021	5,318	5,398	5,789	5,878	6,479	6,806	8,166	10,979	12,348	13,685	14,501
Fixed Assets	1,335	2,389	2,415	2,859	2,849	2,849	2,786	3,308	3,370	4,019	5,384	6,317	6,399
CWIP	1,013	565	634	231	110	119	600	587	856	1,258	1,392	944	866
Investments	3	370	444	836	1,349	1,103	1,083	1,062	1,418	1,897	2,037	2,686	2,898
Other Assets	1,800	1,697	1,825	1,473	1,481	1,808	2,010	1,850	2,523	3,805	3,535	3,737	4,338
Total Assets	4,151	5,021	5,318	5,398	5,789	5,878	6,479	6,806	8,166	10,979	12,348	13,685	14,501

Below is a detailed analysis of the balance sheet data for Balkrishna Industries Ltd based on the most recent figures (Sep 2024) and their trends compared to the previous period:

For Equity Capital, as of Sep 2024, the value is 39.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2024) which recorded 39.00 Cr..
For Reserves, as of Sep 2024, the value is 9,360.00 Cr.. The value appears strong and on an upward trend. It has increased from 8,815.00 Cr. (Mar 2024) to 9,360.00 Cr., marking an increase of 545.00 Cr..
For Borrowings, as of Sep 2024, the value is 3,122.00 Cr.. The value appears to be increasing, which may not be favorable. Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has increased from 3,099.00 Cr. (Mar 2024) to 3,122.00 Cr., marking an increase of 23.00 Cr..
For Other Liabilities, as of Sep 2024, the value is 1,981.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 1,731.00 Cr. (Mar 2024) to 1,981.00 Cr., marking an increase of 250.00 Cr..
For Total Liabilities, as of Sep 2024, the value is 14,501.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 13,685.00 Cr. (Mar 2024) to 14,501.00 Cr., marking an increase of 816.00 Cr..
For Fixed Assets, as of Sep 2024, the value is 6,399.00 Cr.. The value appears strong and on an upward trend. It has increased from 6,317.00 Cr. (Mar 2024) to 6,399.00 Cr., marking an increase of 82.00 Cr..
For CWIP, as of Sep 2024, the value is 866.00 Cr.. The value appears to be declining and may need further review. It has decreased from 944.00 Cr. (Mar 2024) to 866.00 Cr., marking a decrease of 78.00 Cr..
For Investments, as of Sep 2024, the value is 2,898.00 Cr.. The value appears strong and on an upward trend. It has increased from 2,686.00 Cr. (Mar 2024) to 2,898.00 Cr., marking an increase of 212.00 Cr..
For Other Assets, as of Sep 2024, the value is 4,338.00 Cr.. The value appears strong and on an upward trend. It has increased from 3,737.00 Cr. (Mar 2024) to 4,338.00 Cr., marking an increase of 601.00 Cr..
For Total Assets, as of Sep 2024, the value is 14,501.00 Cr.. The value appears strong and on an upward trend. It has increased from 13,685.00 Cr. (Mar 2024) to 14,501.00 Cr., marking an increase of 816.00 Cr..

Notably, the Reserves (9,360.00 Cr.) exceed the Borrowings (3,122.00 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	549	602	984	1,072	847	750	820	1,173	1,339	908	1,448	2,083
Cash from Investing Activity +	-1,011	-1,230	-435	-552	-563	-92	-636	-678	-1,173	-1,897	-1,783	-1,475
Cash from Financing Activity +	370	365	-130	-625	-589	-654	-165	-495	-158	980	359	-602
Net Cash Flow	-92	-263	419	-105	-306	4	20	1	8	-9	23	5

Free Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	667.00	888.00	725.00	865.00	0.00	-866.00	-870.00	-931.00	0.00	0.00	-2.00	-1.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	56	59	56	43	40	39	36	45	48	48	42	56
Inventory Days	88	114	76	102	110	105	113	105	148	162	124	108
Days Payable	53	82	74	88	87	70	58	65	103	80	37	74
Cash Conversion Cycle	91	91	58	58	64	75	92	84	93	130	129	91
Working Capital Days	94	90	37	-8	19	76	74	66	70	86	76	76
ROCE %	17%	18%	17%	15%	20%	22%	22%	17%	24%	24%	14%	18%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Promoters	58.30%	58.29%	58.29%	58.29%	58.30%	58.30%	58.30%	58.30%	58.30%	58.30%	58.30%	58.30%
FIIs	15.42%	15.07%	14.05%	14.30%	12.96%	12.45%	12.42%	12.40%	12.53%	12.69%	12.24%	12.61%
DIIs	12.56%	11.59%	11.78%	11.17%	18.81%	20.12%	20.21%	20.90%	21.11%	21.32%	21.97%	22.29%
Government	0.00%	0.00%	0.00%	0.00%	0.10%	0.10%	0.10%	0.10%	0.10%	0.10%	0.11%	0.15%
Public	13.73%	15.05%	15.87%	16.24%	9.84%	9.03%	8.99%	8.30%	7.94%	7.59%	7.38%	6.65%
No. of Shareholders	1,04,526	1,27,816	1,39,913	1,35,395	1,73,802	1,58,201	1,46,804	1,40,490	1,36,214	1,25,341	1,34,831	1,23,435

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
HDFC Mid-Cap Opportunities Fund - Regular Plan	4,897,599	1.81	1091.65	4,897,599	2025-04-22 13:31:13	0%
Parag Parikh Flexi Cap Fund	4,189,074	1.59	933.72	4,189,074	2025-04-22 17:25:41	0%
Kotak Flexicap Fund - Regular Plan	2,350,000	1.16	523.8	2,350,000	2025-04-22 14:53:35	0%
Motilal Oswal Midcap Fund	1,725,000	4.53	384.49	1,725,000	2025-04-22 17:25:41	0%
DSP Mid Cap Fund	1,558,494	2.13	347.38	1,558,494	2025-04-22 17:25:41	0%
Kotak Emerging Equity Fund - Regular Plan	1,265,426	0.71	282.06	1,265,426	2025-04-22 17:25:41	0%
Motilal Oswal Flexi Cap Fund	1,150,000	2.72	256.33	1,150,000	2025-04-22 17:25:41	0%
Axis Midcap Fund	1,044,732	0.92	232.87	1,044,732	2025-04-22 17:25:41	0%
Nippon India Growth Fund	1,040,000	0.95	231.81	1,040,000	2025-04-22 17:25:41	0%
UTI Large Cap Fund	624,287	1.15	139.15	624,287	2025-04-22 17:25:41	0%

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	2.00	2.00	2.00	2.00	2.00
Basic EPS (Rs.)	76.12	54.70	74.25	60.91	49.64
Diluted EPS (Rs.)	76.12	54.70	74.25	60.91	49.64
Cash EPS (Rs.)	109.79	84.23	97.81	82.45	68.97
Book Value[Excl.RevalReserv]/Share (Rs.)	458.04	390.94	358.67	310.39	259.09
Book Value[Incl.RevalReserv]/Share (Rs.)	458.04	390.94	358.67	310.39	259.09
Revenue From Operations / Share (Rs.)	484.68	504.89	429.13	299.18	248.90
PBDIT / Share (Rs.)	139.92	106.24	126.57	102.57	78.74
PBIT / Share (Rs.)	106.25	76.71	103.02	81.03	59.41
PBT / Share (Rs.)	100.41	74.23	102.54	80.44	58.95
Net Profit / Share (Rs.)	76.12	54.70	74.26	60.92	49.65
NP After MI And SOA / Share (Rs.)	76.12	54.70	74.26	60.92	49.65
PBDIT Margin (%)	28.86	21.04	29.49	34.28	31.63
PBIT Margin (%)	21.92	15.19	24.00	27.08	23.86
PBT Margin (%)	20.71	14.70	23.89	26.88	23.68
Net Profit Margin (%)	15.70	10.83	17.30	20.36	19.94
NP After MI And SOA Margin (%)	15.70	10.83	17.30	20.36	19.94
Return on Networth / Equity (%)	16.61	13.99	20.70	19.62	19.16
Return on Capital Employeed (%)	20.48	16.47	25.71	25.00	21.88
Return On Assets (%)	10.75	8.56	13.07	14.41	14.09
Long Term Debt / Equity (X)	0.07	0.13	0.07	0.00	0.00
Total Debt / Equity (X)	0.34	0.44	0.36	0.16	0.18
Asset Turnover Ratio (%)	0.71	0.84	0.86	0.77	0.72
Current Ratio (X)	1.27	1.17	1.20	1.31	1.23
Quick Ratio (X)	0.90	0.67	0.68	0.81	0.83
Inventory Turnover Ratio (X)	2.94	2.94	3.07	3.12	3.02
Dividend Payout Ratio (NP) (%)	21.01	29.25	39.05	19.70	44.31
Dividend Payout Ratio (CP) (%)	14.57	18.99	29.65	14.55	31.89
Earning Retention Ratio (%)	78.99	70.75	60.95	80.30	55.69
Cash Earning Retention Ratio (%)	85.43	81.01	70.35	85.45	68.11
Interest Coverage Ratio (X)	23.96	42.75	267.40	174.22	171.01
Interest Coverage Ratio (Post Tax) (X)	14.04	23.01	157.87	104.47	108.83
Enterprise Value (Cr.)	47822.37	40991.78	43811.10	33598.82	16153.43
EV / Net Operating Revenue (X)	5.10	4.20	5.28	5.81	3.36
EV / EBITDA (X)	17.68	19.96	17.91	16.95	10.61
MarketCap / Net Operating Revenue (X)	4.78	3.87	4.98	5.65	3.18
Retention Ratios (%)	78.98	70.74	60.94	80.29	55.68
Price / BV (X)	5.06	4.99	5.96	5.45	3.05
Price / Net Operating Revenue (X)	4.78	3.87	4.98	5.65	3.18
EarningsYield	0.03	0.02	0.03	0.03	0.06

After reviewing the key financial ratios for Balkrishna Industries Ltd, here is a detailed analysis based on the latest available data and recent trends:

For FaceValue, as of Mar 24, the value is 2.00. This value is within the healthy range. There is no change compared to the previous period (Mar 23) which recorded 2.00.
For Basic EPS (Rs.), as of Mar 24, the value is 76.12. This value is within the healthy range. It has increased from 54.70 (Mar 23) to 76.12, marking an increase of 21.42.
For Diluted EPS (Rs.), as of Mar 24, the value is 76.12. This value is within the healthy range. It has increased from 54.70 (Mar 23) to 76.12, marking an increase of 21.42.
For Cash EPS (Rs.), as of Mar 24, the value is 109.79. This value is within the healthy range. It has increased from 84.23 (Mar 23) to 109.79, marking an increase of 25.56.
For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 458.04. It has increased from 390.94 (Mar 23) to 458.04, marking an increase of 67.10.
For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 458.04. It has increased from 390.94 (Mar 23) to 458.04, marking an increase of 67.10.
For Revenue From Operations / Share (Rs.), as of Mar 24, the value is 484.68. It has decreased from 504.89 (Mar 23) to 484.68, marking a decrease of 20.21.
For PBDIT / Share (Rs.), as of Mar 24, the value is 139.92. This value is within the healthy range. It has increased from 106.24 (Mar 23) to 139.92, marking an increase of 33.68.
For PBIT / Share (Rs.), as of Mar 24, the value is 106.25. This value is within the healthy range. It has increased from 76.71 (Mar 23) to 106.25, marking an increase of 29.54.
For PBT / Share (Rs.), as of Mar 24, the value is 100.41. This value is within the healthy range. It has increased from 74.23 (Mar 23) to 100.41, marking an increase of 26.18.
For Net Profit / Share (Rs.), as of Mar 24, the value is 76.12. This value is within the healthy range. It has increased from 54.70 (Mar 23) to 76.12, marking an increase of 21.42.
For NP After MI And SOA / Share (Rs.), as of Mar 24, the value is 76.12. This value is within the healthy range. It has increased from 54.70 (Mar 23) to 76.12, marking an increase of 21.42.
For PBDIT Margin (%), as of Mar 24, the value is 28.86. This value is within the healthy range. It has increased from 21.04 (Mar 23) to 28.86, marking an increase of 7.82.
For PBIT Margin (%), as of Mar 24, the value is 21.92. This value exceeds the healthy maximum of 20. It has increased from 15.19 (Mar 23) to 21.92, marking an increase of 6.73.
For PBT Margin (%), as of Mar 24, the value is 20.71. This value is within the healthy range. It has increased from 14.70 (Mar 23) to 20.71, marking an increase of 6.01.
For Net Profit Margin (%), as of Mar 24, the value is 15.70. This value exceeds the healthy maximum of 10. It has increased from 10.83 (Mar 23) to 15.70, marking an increase of 4.87.
For NP After MI And SOA Margin (%), as of Mar 24, the value is 15.70. This value is within the healthy range. It has increased from 10.83 (Mar 23) to 15.70, marking an increase of 4.87.
For Return on Networth / Equity (%), as of Mar 24, the value is 16.61. This value is within the healthy range. It has increased from 13.99 (Mar 23) to 16.61, marking an increase of 2.62.
For Return on Capital Employeed (%), as of Mar 24, the value is 20.48. This value is within the healthy range. It has increased from 16.47 (Mar 23) to 20.48, marking an increase of 4.01.
For Return On Assets (%), as of Mar 24, the value is 10.75. This value is within the healthy range. It has increased from 8.56 (Mar 23) to 10.75, marking an increase of 2.19.
For Long Term Debt / Equity (X), as of Mar 24, the value is 0.07. This value is below the healthy minimum of 0.2. It has decreased from 0.13 (Mar 23) to 0.07, marking a decrease of 0.06.
For Total Debt / Equity (X), as of Mar 24, the value is 0.34. This value is within the healthy range. It has decreased from 0.44 (Mar 23) to 0.34, marking a decrease of 0.10.
For Asset Turnover Ratio (%), as of Mar 24, the value is 0.71. It has decreased from 0.84 (Mar 23) to 0.71, marking a decrease of 0.13.
For Current Ratio (X), as of Mar 24, the value is 1.27. This value is below the healthy minimum of 1.5. It has increased from 1.17 (Mar 23) to 1.27, marking an increase of 0.10.
For Quick Ratio (X), as of Mar 24, the value is 0.90. This value is below the healthy minimum of 1. It has increased from 0.67 (Mar 23) to 0.90, marking an increase of 0.23.
For Inventory Turnover Ratio (X), as of Mar 24, the value is 2.94. This value is below the healthy minimum of 4. There is no change compared to the previous period (Mar 23) which recorded 2.94.
For Dividend Payout Ratio (NP) (%), as of Mar 24, the value is 21.01. This value is within the healthy range. It has decreased from 29.25 (Mar 23) to 21.01, marking a decrease of 8.24.
For Dividend Payout Ratio (CP) (%), as of Mar 24, the value is 14.57. This value is below the healthy minimum of 20. It has decreased from 18.99 (Mar 23) to 14.57, marking a decrease of 4.42.
For Earning Retention Ratio (%), as of Mar 24, the value is 78.99. This value exceeds the healthy maximum of 70. It has increased from 70.75 (Mar 23) to 78.99, marking an increase of 8.24.
For Cash Earning Retention Ratio (%), as of Mar 24, the value is 85.43. This value exceeds the healthy maximum of 70. It has increased from 81.01 (Mar 23) to 85.43, marking an increase of 4.42.
For Interest Coverage Ratio (X), as of Mar 24, the value is 23.96. This value is within the healthy range. It has decreased from 42.75 (Mar 23) to 23.96, marking a decrease of 18.79.
For Interest Coverage Ratio (Post Tax) (X), as of Mar 24, the value is 14.04. This value is within the healthy range. It has decreased from 23.01 (Mar 23) to 14.04, marking a decrease of 8.97.
For Enterprise Value (Cr.), as of Mar 24, the value is 47,822.37. It has increased from 40,991.78 (Mar 23) to 47,822.37, marking an increase of 6,830.59.
For EV / Net Operating Revenue (X), as of Mar 24, the value is 5.10. This value exceeds the healthy maximum of 3. It has increased from 4.20 (Mar 23) to 5.10, marking an increase of 0.90.
For EV / EBITDA (X), as of Mar 24, the value is 17.68. This value exceeds the healthy maximum of 15. It has decreased from 19.96 (Mar 23) to 17.68, marking a decrease of 2.28.
For MarketCap / Net Operating Revenue (X), as of Mar 24, the value is 4.78. This value exceeds the healthy maximum of 3. It has increased from 3.87 (Mar 23) to 4.78, marking an increase of 0.91.
For Retention Ratios (%), as of Mar 24, the value is 78.98. This value exceeds the healthy maximum of 70. It has increased from 70.74 (Mar 23) to 78.98, marking an increase of 8.24.
For Price / BV (X), as of Mar 24, the value is 5.06. This value exceeds the healthy maximum of 3. It has increased from 4.99 (Mar 23) to 5.06, marking an increase of 0.07.
For Price / Net Operating Revenue (X), as of Mar 24, the value is 4.78. This value exceeds the healthy maximum of 3. It has increased from 3.87 (Mar 23) to 4.78, marking an increase of 0.91.
For EarningsYield, as of Mar 24, the value is 0.03. This value is below the healthy minimum of 5. It has increased from 0.02 (Mar 23) to 0.03, marking an increase of 0.01.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Balkrishna Industries Ltd as of May 16, 2025 is: 2,023.68

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of May 16, 2025, Balkrishna Industries Ltd is Overvalued by 25.02% compared to the current share price 2,699.00

Intrinsic Value of Balkrishna Industries Ltd as of May 16, 2025 is: 2,196.37

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of May 16, 2025, Balkrishna Industries Ltd is Overvalued by 18.62% compared to the current share price 2,699.00

Last 5 Year EPS CAGR: 8.53%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a high average ROCE of 19.00%, which is a positive sign. The company has higher reserves (4,924.23 cr) compared to borrowings (2,001.38 cr), indicating strong financial stability. The company has shown consistent growth in sales (5.31 cr) and profit (202.85 cr) over the years.	The stock has a high average Working Capital Days of 63.00, which may not be favorable. The stock has a high average Cash Conversion Cycle of 88.00, which may not be favorable.

Stock Analysis

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Balkrishna Industries Ltd:
1. Net Profit Margin: 15.7%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 20.48% (Industry Average ROCE: 17.57%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 16.61% (Industry Average ROE: 14.2%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 14.04
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 0.9
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 29.4 (Industry average Stock P/E: 33.88)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0.34
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

Balkrishna Industries Ltd. is a Public Limited Listed company incorporated on 20/11/1961 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L99999MH1961PLC012185 and registration number is 012185. Currently Company is involved in the business activities of Manufacture of rubber tyres and tubes. Company's Total Operating Revenue is Rs. 9298.70 Cr. and Equity Capital is Rs. 38.66 Cr. for the Year ended 31/03/2024.

INDUSTRY	ADDRESS	CONTACT
Tyres & Tubes	B-66, Waluj MIDC, Waluj Industrial Area, Aurangabad Maharashtra 431136	shares@bkt-tires.com http://www.bkt-tires.com

Management
Name	Position Held
Mr. Arvind Poddar	Chairman & Managing Director
Mr. Rajiv Poddar	Joint Managing Director
Mr. Vipul Shah	Whole Time Director & Co. Secretary
Mrs. Vijaylaxmi Poddar	Non Exe.Non Ind.Director
Mr. Pannkaj Ghadiali	Non Exe. & Ind. Director
Ms. Shruti Shah	Non Exe. & Ind. Director
Mr. Laxmidas Merchant	Non Exe. & Ind. Director
Mr. Rahul Dutt	Non Exe. & Ind. Director

FAQ

What is the intrinsic value of Balkrishna Industries Ltd?

Balkrishna Industries Ltd's intrinsic value (as of 16 May 2025) is ₹2023.68 — 25.02% lower the current market price of 2,699.00, indicating overvalued. Calculated using the PE ratio method, this valuation considers the company's 52,208 Cr. market cap, FY2025-2026 high/low of ₹3,378/2,152, reserves of 9,360 Cr, and liabilities of 14,501 Cr.

What is the Market Cap of Balkrishna Industries Ltd?

The Market Cap of Balkrishna Industries Ltd is 52,208 Cr..

What is the current Stock Price of Balkrishna Industries Ltd as on 16 May 2025?

The current stock price of Balkrishna Industries Ltd as on 16 May 2025 is 2,699.

What is the High / Low of Balkrishna Industries Ltd stocks in FY 2025-2026?

In FY 2025-2026, the High / Low of Balkrishna Industries Ltd stocks is ₹3,378/2,152.

What is the Stock P/E of Balkrishna Industries Ltd?

The Stock P/E of Balkrishna Industries Ltd is 29.4.

What is the Book Value of Balkrishna Industries Ltd?

The Book Value of Balkrishna Industries Ltd is 486.

What is the Dividend Yield of Balkrishna Industries Ltd?

The Dividend Yield of Balkrishna Industries Ltd is 0.59 %.

What is the ROCE of Balkrishna Industries Ltd?

The ROCE of Balkrishna Industries Ltd is 17.6 %.

What is the ROE of Balkrishna Industries Ltd?

The ROE of Balkrishna Industries Ltd is 17.6 %.

What is the Face Value of Balkrishna Industries Ltd?

The Face Value of Balkrishna Industries Ltd is 2.00.