BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Dolat Capital Report
Balkrishna Industries Industries Ltd. Q1 FY21 Ebitda performance was broadly in line with our estimates.
Ebitda de-grew 14% YoY at Rs 2.3 billion, with margin at 24.8% (up 239 basis points YoY; down 262 basis points QoQ) (versus estimate of 24.6%), on account of softening of raw material prices and cost optimization measures.
Despite washout in April, company has seen sharp revival in demand in the past three months for agriculture tyres due to good crop season and re-opening of economies in its key European markets of Germany, France, Italy and Latvia.
Easing of trade war along with recovery of agriculture demand has helped with demand recovery in USA.
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