Balkrishna Industries - Industry Export Trends Remain Solid: 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 reported strong demand trends with August 2021 industry exports up 33% YoY. The latest data (August 2021) indicates continued momentum in off-the-road segment (up 33% YoY) even as agri demand growth remained sturdy at ~33% YoY. Data continues to support the robust demand momentum for Balkrishna Industries driven by both agri and OTR segments: FY22-year-to-date industry exports are up ~69% YoY on U.S. dollar basis. Regionally, growth in Aug-21 was led by rest of world (up 42% YoY) followed by Europe (31%) and U.S. (26%). Recent decline in international rubber prices augurs well for margin improvement in H2 FY22. .Click on the attachment to read the full report: .DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint. .Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Balkrishna Industries - Industry Export Trends Remain Solid: ICICI Securities

Balkrishna Industries - Industry Export Trends Remain Solid: ICICI Securities

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