Balkrishna Industries - Industry Exports Growth Continues To Shine: ICICI Securities
Tread patterns sit on the outside of industrial use rubber tyres at a factory. (Photographer: Andrey Rudakov/Bloomberg)

Balkrishna Industries - Industry Exports Growth Continues To Shine: 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. key export markets witnessed robust demand as industry exports grew 14% YoY.

The latest industry export data (December 2020) continues to be led by agri demand (up ~21% YoY) while on-the-road grew by a modest 2%.

Q3 FY21 thus closed with a ~15% growth for the industry driven by Agri segment (up 25% YoY) while OTR also clocked ~2% growth.

Year-to-date industry exports are up 7% led by Agriculture (up 17%). On a regional basis, in Dec-20, growth was led by Europe (up 22%) followed by rest-of-world (up 15%).

Click on the attachment to read the full report:

ICICI Securities Balkrishna Industries Update.pdf

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