Balkrishna Industries - 2021 Starts With Robust Demand Growth: ICICI Securities
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Balkrishna Industries - 2021 Starts With Robust Demand Growth: ICICI Securities

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ICICI Securities Report

Balkrishna Industries Ltd.’s key export markets have reported robust demand (February 2021 industry exports grew 24% YoY).

The latest industry export data (February 2021) maintained a balance with agriculture demand (up ~23% YoY), while off-the-road grew at 25%.

The latest data continues to support the V-shaped demand rebound: Year-to-date/quarter-to-date industry exports are up 11%/27% YoY respectively.

On a regional basis, in Feb-21, growth was led by U.S. (up 39% YoY), followed by the Rest of World region (up 36%) while Europe grew 12% (base effect).

The pace of export growth in Q4 currently remains ahead of consensus expectations.

Click on the attachment to read the full report:

ICICI Securities Balkrishna Industries Company Update.pdf

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