Balkrishna Industries - 2020 Industry Exports End On A Strong Note: ICICI Securities
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Balkrishna Industries - 2020 Industry Exports End On A Strong Note: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

Balkrishna Industries Ltd.’s key export markets continue to witness improving demand (November 2020 industry exports grew 14% YoY).

The latest industry export data (Nov-20) continues to be driven by agriculture demand (up approximately 23% YoY) while off-the-road witnessed a flattish ~1% decline.

Interesting to note, demand in the U.S. region improved across segments (OTR plus agri was up ~34% month-on-month) as post-election political uncertainty fades away.

The latest export data continues to support the V-shaped demand rebound: year-to-date exports are up 6% led by agri (up 16%).

Click on the attachment to read the full report:

ICICI Securities Balkrishna Industries Company Update.pdf

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