Balkrishna Industries Q3 Earnings: PAT plunges 68% YoY, 200% dividend declared

With a market valuation of ₹44,585.71 Cr, Balkrishna Industries Ltd. is a large-cap company that operates in the consumer discretionary industry. The company is a leader in the off-highway tire market for a number of specialised industries, including agriculture, constructing, earthmoving, ports, and mining. The company has declared its Q3 earnings along with a dividend of 200%.

“The Board has declared 3rd Interim dividend of Rs. 4.00 per Equity Share (200%) on the Equity Shares of Rs. 2/- each (face value) for the financial year 2022-23 and the payment thereof shall be credited/dispatched within 30 days from the date of declaration as per applicable provisions of Companies Act, 2013, to such shareholders as on Record Date i.e. 18th February, 2023,” said Balkrishna Industries in a stock exchange filing.

In Q3FY23, the company recorded a net profit of ₹108.38 crore compared to ₹338.95 crore in Q3FY22, representing a fall of 68%. Balkrishna Industries posted revenue from operations of ₹2165.57 crore in the quarter ended December 2022 as against ₹2045.81 crore during the quarter ended December 2021, representing a gain of 5.85%. The company recorded net expenses of ₹2059.06 crore in Q3FY23 compared to ₹1708.78 crore in the year-ago quarter. The EPS of Balkrishna Industries reached ₹5.61 in Q3FY23 as compared to ₹17.53 in the same quarter last year.

On Friday, the shares of Balkrishna Industries closed on the NSE at ₹2,304 apiece level, up by 0.07% from the previous close of ₹2,302.45. The stock recorded a net volume average of 148,038 shares and an average delivery volume of 4,966,675 shares at 33.55%. In the last 1 year, the stock has gained 10.51% and on a YTD basis, it has rallied 8.27% so far in 2023. 

The stock touched a 52-week-high of ₹2,450.00 on (02-Aug-2022) and a 52-week-low of ₹1,690.55 on (07-Mar-2022), indicating that at the current market price, the stock is trading, at 5.95% below the 1 year high and 36.28% above the 1 year low. For the quarter ended December 2022 or Q3FY23, the company reported promoter shareholding of 58.30%, FIIs stake of 12.45%, DIIs stake of 20.12%, Government stake of 0.10% and a public stake of 9.03%.

Leave a Reply

Your email address will not be published. Required fields are marked *