Balkrishna Industries Q1 Results Total Income ₹2,714.50 crores & PAT ₹489.99 crores

Balkrishna Industries Q1 Results: Balkrishna Industries showed a strong performance in its Q1 results for June 2024, with noticeable year-over-year (YoY) growth. The total revenue for the company was ₹2,714.50 crores, which is 25.71% higher YoY compared to ₹2,159.35 crores in June 2023. This means the company made much more money compared to the same time last year.

Balkrishna Industries net income, which is the profit after all expenses, Balkrishna Industries made ₹489.99 crores in June 2024, an impressive 47.64% YoY increase from ₹331.88 crores in June 2023. This shows the company is becoming more profitable year after year.

Balkrishna Industries’ Selling, General, and Administrative (SG&A) expenses also rose significantly, growing by 40.56% YoY to ₹307.44 crores. Although expenses are rising, the company still managed to keep its profits high. Depreciation and amortization costs increased slightly by 5.22% YoY.

When comparing the results quarter-on-quarter (QoQ), or from March 2023 to June 2024, the company's net income saw only a small improvement of 0.67% QoQ.

Here is a simplified summary of Balkrishna Industries' Q1 2024 results:

(All figures in crores except per share values)

Source: Here 

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Balkrishna Industries Q1 Results

Balkrishna Industries' financial results for the quarter ending June 30, 2024, show how the company performed financially compared to previous quarters. The company's main source of income, revenue from operations, was ₹2,68,953 lakhs in the first quarter of 2024, slightly higher than the previous quarter (₹2,67,308 lakhs) and much higher than the same quarter last year (₹2,12,002 lakhs). This shows steady growth in their sales. In addition to operational revenue, they earned some extra income (other income) of ₹15,883 lakhs, which is also similar to the previous quarter.

When we add these together, the company's total income was ₹2,84,836 lakhs for this quarter. After accounting for all the costs and expenses like raw materials, employee wages, freight, and depreciation, the total expenses came to ₹2,22,175 lakhs. This leaves the company with a profit before tax of ₹62,661 lakhs, slightly lower than the previous quarter's profit of ₹63,364 lakhs but higher than the same period last year. After tax deductions, the company’s profit after tax was ₹47,729 lakhs, which is a solid figure showing profitability.

Here’s a simplified breakdown of the financial results for Belkeishno Induntiet for the quarter ending June 30, 2024.

(in Rs. Lakhs)

Balkrishna Industries Stock Metrics

Balkrishna Industries is a company with a market capitalization of ₹59,735 crore, meaning the total value of all its shares is ₹59,735 crore. Its current stock price is ₹3,090. Over the past year, the highest price it reached was ₹3,378, and the lowest was ₹2,194. The price-to-earnings (P/E) ratio is 36.6, showing how much investors are willing to pay for each rupee of earnings. The company’s book value, or net asset value, is ₹458 per share. It gives a small dividend yield of 0.52%.

Here is a table based on the information you provided:

Quarterly Results 

Balkrishna Industries showed strong performance in the last three quarters of 2023 and early 2024. In December 2023, the company reported sales of ₹2,274 crores, with expenses of ₹1,734 crores, leading to an operating profit of ₹541 crores. By March 2024, sales increased to ₹2,682 crores, and despite higher expenses at ₹2,001 crores, the operating profit rose to ₹681 crores. In June 2024, sales further grew to ₹2,714 crores, with expenses of ₹2,051 crores, resulting in an operating profit of ₹664 crores. 

Here’s the table for Dec 2023, Mar 2024, and Jun 2024:

(in Rs. Crores)

About Balkrishna Industries

Balkrishna Industries, also known as BKT, is a major Indian company that makes tyres for off-highway vehicles. It was founded in 1987 and is based in Mumbai, India. BKT produces tyres used in various industries, including agriculture, mining, and construction. The company has five factories in India, located in Aurangabad, Bhiwadi, Chopanki, Dombivali, and Bhuj. These facilities allow BKT to manufacture a wide range of tyres designed for different types of heavy machinery.

BKT is known for its high-quality products and has gained recognition in the global tyre market. In 2013, it was ranked 41st among the world's tyre manufacturers. The company not only sells its products in India but also exports to many countries around the world. BKT has partnerships with major equipment manufacturers like JCB and John Deere, which helps it reach a larger customer base. In the United States, BKT focuses heavily on the farm market, making about 80% of its business in that area. With over 7,000 employees, BKT continues to grow and innovate, making it a key player in the tyre industry.