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ICICI Direct: Balkrishna Industries Q2 Review - Firm Growth Prospects Lie Ahead

ICICI Direct: Balkrishna Industries’ Robust Q2 Performance; Firm Growth Prospects Lie Ahead

New car wheels and tyres on a production line  U.S. (Photographer Luke Sharrett/Bloomberg)
New car wheels and tyres on a production line U.S. (Photographer Luke Sharrett/Bloomberg)

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ICICI Direct Report

Balkrishna Industries Ltd. reported stellar Q2 FY21 results.

Standalone revenue was at Rs 1,579 crore (up 47% YoY), amid approximately 36% rise in volumes to 61,224 metric tonnes.

Margins rose 903 basis points YoY to a near five-year high of 34% amid 494 basis points gross margin expansion and savings in employee costs and other expenses.

Consequent profit after tax came in at Rs 340 crore (up 16.7% YoY).

The company declared a second interim dividend of Rs 4/share (record date - November 14).

Click on the attachment to read the full report:

ICICI Direct BalkrishnaInds Q2FY21 Result Update.pdf

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