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Informist, Saturday, Jan. 25, 2025

 

--Balkrishna Ind Oct-Dec net profit INR 4.39 bln vs INR 3.09 bln yr ago 

--Analysts saw Balkrishna Ind Oct-Dec net profit INR 3.85 bln 

--Balkrishna Ind Oct-Dec revenue INR 25.41 bln vs INR 22.80 bln year ago 

--Balkrishna Ind to pay INR 4 per share interim dividend 

--Balkrishna Ind Apr-Dec net profit INR 12.66 bln vs INR 9.57 bln year ago

--Balkrishna Ind Apr-Dec revenue INR 76.66 bln vs INR 66.26 bln year ago 

--Balkrishna Ind Oct-Dec operating margin 16.42% vs 16.67% yr ago 

--Balkrishna Ind Oct-Dec net profit margin 16.11% vs 13.17% yr ago 

--Balkrishna Ind Oct-Dec EBITDA INR 6.39 bln, up 9% on year 

--Balkrishna Ind Oct-Dec EBITDA margin 24.85%, down 52 bps on year 

--Balkrishna Ind Apr-Dec EBITDA INR 19.79 bln, up 22% on year 

--Balkrishna Ind Apr-Dec EBITDA margin 25.44%, up 115 bps on year 

 

By Akshay V. Johnson

 

MUMBAI – Balkrishna Industries Ltd.'s net profit and revenue for the quarter ended December beat market expectations. The company reported high double-digit growth in net profit due to an exceptional rise in other income, which tripled on year. The latest quarter is the fifth consecutive quarter of growth in revenue and net profit. The company's revenue from operations grew by 11% as its realisations improved on account of the 1-2% price hike it took in the December quarter.

 

The company reported a net profit of INR 4.39 billion for Oct-Dec, up 42.2% from INR 3.09 billion a year ago. Analysts had estimated the net profit at INR 3.85 billion. The company reported a revenue of INR 25.41 billion for the December quarter, up from INR 22.80 billion a year ago. Analysts had expected the company to report a revenue of INR 25.13 billion.

 

Sequentially, the net profit surged 25.7% and net revenue rose 4.3%. The company's other income rose to INR 1.87 billion for the December quarter, up from INR 665 million a year ago.

 

The company's total expenditure for the December quarter was INR 21.38 billion, up 10.5% on year. Cost of materials consumed, which constituted more than 59% of the company's total expenses, was INR 12.64 billion in Oct-Dec, up 16.6% on year. Other expenses for the quarter were INR 4.41 billion, up 5% on year. The company's freight and forwarding expenses surged 63.7% on year and depreciation and amortisation expenses rose 7.4% on year. 

 

The company's operating margin for the December quarter was 16.42%, down from 16.67% in the year-ago quarter, while its net profit margin increased to 16.11% from 13.17% a year ago. The company reported a net profit of INR 12.66 billion for Apr-Dec, up 32% on year. Revenue for the period was INR 76.66 billion, up 16% on year. The company has announced a third interim dividend of INR 4 per share and set Jan. 30 as the record date.

 

Balkrishna Industries posted earnings before interest, tax, depreciation, and amortisation of INR 6.39 billion for the December quarter, up 9% on year, beating analysts' estimate of INR 6.25 billion. The company's EBITDA margin was 24.85% for the December quarter, down 52 basis points on year, on account of higher raw materials and freight costs. For Apr-Dec, the company's EBITDA was INR 19.79 billion, up 22% on year, with an EBITDA margin of 25.44%, up 115 basis points on year.

 

The company's sales volume for the December quarter was 76,343 tonnes, up 5% on year. The sales volume for Apr-Dec was 233,211 tonnes, up 11% on year. Europe, the main market for the company in terms of volume, accounted for 43% of the company's total volume in Apr-Dec.

 

On Friday, shares of the company ended at INR 2,652.20 on the National Stock Exchange, down 2.8% from the previous close.

 

Edited by Ashish Shirke

 

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