Balkrishna Industries Q3 Review - Solid Delivery Yet Again; Fresh Capex On The Anvil: ICICI Direct
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ICICI Direct Report
Balkrishna Industries Ltd. reported robust Q3 FY21 results.
Standalone revenue was at Rs 1,505 crore (up 30% YoY), amid approximately 26% rise in volumes to 59,810 metric tonnes.
Ebitda for the quarter at Rs 476 crore was higher by 40% YoY with margins at 31.7% (down 233 basis points QoQ).
Consequent standalone profit after tax was at Rs 322 crore (up 46% YoY), aided in part by higher other income - which included forex gains amounting to Rs 15 crore.
The company declared a third interim dividend of Rs 5 per share (record date: February 16, 2021).
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