Balkrishna Industries Limited (IN:BALKRISIND)
:BALKRISIND
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Balkrishna Industries Limited
(BALKRISIND)
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Rating:60Neutral
Price Target:
₹2,376.00
▲(1.98% Upside)
Action:Reiterated
Date:05/11/26
The score is primarily held back by weaker FY2026 financial momentum (net income decline, higher debt, and negative free cash flow) despite still-solid margins and operating cash flow. Technicals are neutral-to-mixed with price below longer-term moving averages and a negative MACD. Valuation further constrains the upside given the higher P/E and modest dividend yield.
Positive Factors
Strong margins
Sustained gross (~48%) and net (~16%) margins indicate structural pricing power and manufacturing efficiency in off-highway tyres. High margins support durable profitability through commodity cycles, underpin healthy ROE, and provide buffer for reinvestment and strategic initiatives over months.
Negative Factors
Negative free cash flow
Free cash flow swung to ~-₹7.5B, reflecting heavier investment or working-capital strain. Persistent negative FCF would force reliance on external financing, constrain dividends or buybacks, and reduce flexibility to navigate commodity cost pressure or fund organic growth over the coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong margins
Sustained gross (~48%) and net (~16%) margins indicate structural pricing power and manufacturing efficiency in off-highway tyres. High margins support durable profitability through commodity cycles, underpin healthy ROE, and provide buffer for reinvestment and strategic initiatives over months.
Read all positive factors
Balkrishna Industries Limited (BALKRISIND) vs. iShares MSCI India ETF (INDA)
Market Cap
₹416.32B
Dividend Yield0.68%
Average Volume (3M)12.58K
Price to Earnings (P/E)32.4
Beta (1Y)1.10
Revenue Growth3.60%
EPS Growth-24.89%
CountryIN
Employees3,590
SectorBasic Materials
Sector Strength58
IndustryAuto - Parts
Share Statistics
EPS (TTM)71.35
Shares Outstanding193,317,180
10 Day Avg. Volume19,853
30 Day Avg. Volume12,577
Financial Highlights & Ratios
PEG Ratio-1.30
Price to Book (P/B)3.68
Price to Sales (P/S)3.72
P/FCF Ratio-53.64
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)78.49
Revenue Forecast (FY)₹125.91B
Balkrishna Industries Limited Business Overview & Revenue Model
Company Description
Balkrishna Industries Limited manufactures and sells tires worldwide. It offers rubber tires, tubes, and carbon black products. The company provides off-highway tires for use in various applications, such as agricultural, industrial and constructi...
How the Company Makes Money
Balkrishna Industries makes money primarily by manufacturing and selling off-highway tyres. Its core revenue stream is product sales of OHT tyres used in (1) agriculture (e.g., tractors and farm implements) and (2) non-agricultural/off-highway app...
Balkrishna Industries Limited Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
71
Positive
Cash Flow
57
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 103.76B | 108.23B | 103.57B | 93.04B | 96.46B | 82.09B |
| Gross Profit | 46.43B | 42.25B | 49.99B | 44.89B | 44.80B | 42.10B |
| EBITDA | 26.78B | 23.00B | 29.76B | 26.91B | 20.47B | 24.44B |
| Net Income | 13.80B | 12.43B | 16.55B | 14.71B | 10.57B | 14.35B |
Balance Sheet | ||||||
| Total Assets | 165.05B | 177.66B | 156.35B | 136.85B | 123.48B | 109.79B |
| Cash, Cash Equivalents and Short-Term Investments | 14.26B | 13.92B | 17.83B | 14.24B | 8.44B | 7.30B |
| Total Debt | 36.82B | 41.11B | 32.67B | 30.99B | 33.47B | 25.29B |
| Total Liabilities | 60.66B | 68.11B | 52.47B | 48.31B | 47.91B | 40.46B |
| Stockholders Equity | 104.40B | 109.55B | 103.88B | 88.54B | 75.57B | 69.33B |
Cash Flow | ||||||
| Free Cash Flow | -4.21B | -7.51B | 2.81B | 9.45B | -3.15B | -6.87B |
| Operating Cash Flow | 12.63B | 22.52B | 17.64B | 20.82B | 14.48B | 9.08B |
| Investing Cash Flow | -12.96B | -26.35B | -14.79B | -14.76B | -17.83B | -18.97B |
| Financing Cash Flow | 286.70M | 3.63B | -2.79B | -6.02B | 3.59B | 9.80B |
Balkrishna Industries Limited Technical Analysis
Positive
2329.80
Price Trends
2194.17
Positive
2318.11
Negative
2341.52
Negative
Market Momentum
-21.48
Positive
51.08
Neutral
48.46
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:BALKRISIND, the sentiment is Positive. The current price of 2329.8 is above the 20-day moving average (MA) of 2186.72, above the 50-day MA of 2194.17, and below the 200-day MA of 2341.52, indicating a neutral trend. The MACD of -21.48 indicates Positive momentum. The RSI at 51.08 is Neutral, neither overbought nor oversold. The STOCH value of 48.46 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:BALKRISIND.
Balkrishna Industries Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | ₹538.97B | 19.40 | ― | 0.15% | 10.64% | 29.47% | |
62 Neutral | ₹238.80B | 19.04 | ― | 0.98% | 8.98% | 22.59% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
60 Neutral | ₹416.32B | 32.39 | ― | 0.68% | 3.60% | -24.89% | |
60 Neutral | ₹128.06B | 14.02 | ― | 0.77% | 18.61% | 47.83% | |
56 Neutral | ₹104.03B | 17.24 | ― | 0.59% | 8.40% | 16.49% | |
53 Neutral | ₹27.46B | 72.23 | ― | 0.40% | 8.75% | 28.53% |
* Basic Materials Sector Average
IN:BALKRISIND
Balkrishna Industries Limited
2,204.25
-429.25
-16.30%
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Balkrishna Industries Limited Corporate Events
Balkrishna Industries Faces Rs 4.8 Crore GST Demand, Plans to Appeal Ruling
Mar 31, 2026
Balkrishna Industries Limited has disclosed that it received an adjudication order from the Additional Commissioner of CGST Central Excise, Mumbai, covering financial years 2021-22 to 2023-24. The order, issued under GST and Compensation Cess pro...
Balkrishna Industries Fully Redeems ₹100 Crore Commercial Paper on Due Date
Mar 13, 2026
Balkrishna Industries Limited has announced that it has fully redeemed a commercial paper issue with ISIN INE787D14227, paying the entire principal amount of ₹100 crore on the scheduled due date of March 13, 2026. The company stated that thi...
Balkrishna Industries to Raise ₹750 Crore via Non-Convertible Debentures
Mar 2, 2026
Balkrishna Industries Limited has approved a fund-raising plan via the issue and allotment of up to 75,000 rated, listed, unsecured, redeemable non-convertible debentures with a face value of ₹1,00,000 each, aggregating to ₹750 crore, ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.