Balkrishna Industries Q4 Review - Superlative Growth Justifies Premium Valuations: ICICI Direct
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ICICI Direct Report
Balkrishna Industries Ltd. reported robust Q4 FY21 numbers.
Standalone revenue came in at Rs 1,746 crore (up 28.6% YoY) tracking 17.3% YoY growth in tonnage to best ever level of 68,002 metric tonne.
Ebitda margins at 31.0% were down a mere 63 basis points QoQ amid 120 basis points lower gross margins amid sequential savings in employee costs and other expenses (as percentage of sales).
Consequent profit after tax in Q4 FY21 came in at Rs 372 crore, up 44.6% YoY, aided partly by higher other income (includes forex gains of Rs 38 crore).
The company declared a final dividend of Rs 5/share for FY21, with total dividend declared for FY21 including interim dividend standing at Rs 17/share.
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