Board to consider Second Interim Dividend
Balkrishna Industries Ltd has informed BSE that a meeting of the Board of Directors of the Company is scheduled to be held on November 05, 2018, inter alia, to consider and approve the Unaudited financial results of the Company for the quarter/half year ended September 30, 2018 and to consider declaration of 2nd Interim Dividend on equity shares, if any, for the financial year 2018-2019.... Board Meeting Intimation for Intimation For Board Meeting To Be Scheduled On Monday, The 5Th November, 2018 For Approval Of Unaudited Financial Results For Quarter/Half Year Ended 30Th September, 2018 And Declaration Of 2Nd Interim Dividend On Equity Shares For The F.Y 2018-19 (If Any). Record Date For Purpose Of 2Nd Interim Dividend For Year 2018-19 (If Any) Shall Be 15Th November, 2018.
BALKRISHNA INDUSTRIES LTD.-$has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 05/11/2018 ,inter alia, to consider and approve Notice is hereby given pursuant to Regulation 29 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, a meeting of the Board of Directors of the Company is scheduled to be held on Monday, the 05th November, 2018 inter alia, to... Announcement under Regulation 30 (LODR)-Demise
With profound grief we wish to inform the sad demise of Shri. Dharaprasadji Poddar, Chairman Emeritus on 20th October, 2018. His demise is an irreparable loss to the Company and his guiding presence will always be missed by all at Balkrishna. Shri. Dharaprasadji Poddar had ceased to be a member of the Board from 16th May, 2012. Kindly take note of the intimation on your records. Certificate Under Regulation 7(3) Of The SEBI (Listing Obligations & Disclosure Requirements), Regulations, 2015 For The Half Financial Year Ended 30Th September, 2018.
Compliance Certificate Report issued under Regulation 7(3) of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 for the half financial year ended 30th September, 2018. Statement Of Investor Complaints For The Quarter Ended September 2018
No.of Investor complaints pending at the beginning of the quarter No.of Investor complaints received during the quarter No.of Investor complaints disposed of during the quarter No.of Investor complaints unresolved at the end of the quarter 0000 Name of the Signatory :- Vipul ShahDesignation :- Company Secretary and Compliance Officer Shareholding for the Period Ended September 30, 2018
Balkrishna Industries Ltd has submitted to BSE the Shareholding Pattern for the Period Ended September 30, 2018. For more details, kindly Click here
Balkrishna, the hidden performer of the tyre industry, sees rising promoter shareholding and record EBITDA margins
By Suhani Adilabadkar Balkrishna Industries (BKT) is not a young company - it was founded in 1987, and is a manufacturer in the Off-Highway tire market focusing on specialist segments such as agricultural, construction vehicles, earthmoving, All Terrain Vehicles (ATV), mining and industrial vehicles. The company has its footprint in 130 countries and functions with four subsidiaries in Europe & North America and its headquarters in Mumbai. The firm has five manufacturing sites in Aurangabad, Bhiwadi, Chopanki, Dombivali and Bhuj employing more than 7,000 people. In India it is second to market leader MRF. Balkrishna Industries has a market capitalization of Rs. 26,013 crore with 85% of its revenues derived from exports, and is ahead of MRF in multiplying investor wealth over the past five years. Quick Takes BKT initially catered mainly to Europe, UK and other emerging markets with only 10-15% domestic contribution to its revenues. It consequently stayed hidden at the bottom of the stock market ocean till 2016. EBDITA Margin at 32.28% in Q1 FY19 is the best in the industry ahead of MRF, Ceat & Apollo Tyres. Promoter shareholding has increased from 54.37% in June 2017 to 58.3 % in current Q1 FY19. The company has pared down its long term debt from Rs. 17,064 Mn as on 31st March 2014 to Rs. 25 Mn as on 31st March 2018. As a result finance costs have declined 35% YoY in June quarter FY19. Balkrishna has recently announced a capex outlay of $100 Mn for US to set up a Greenfield facility to diminish tariff risk on US imports. The capex announcement (considered to be margin dilutive) has spooked investors, but buoyant demand in off highway tyre segment, and revenue growth at stronger footing than its global peers, suggests that this may be the right step in the right direction. Quarterly Performance BKT, catering mainly to Europe, UK and other emerging markets with only 10-15% domestic contribution to its revenues remained concealed at the bottom of the stock market ocean till 2016. Quarterly numbers for its most recent quarter have been robust with double digit growth in every parameter. Starting with quarterly volume which stands at 56,754 MT, rising 23% YoY, and revenue as well as PAT reported at Rs.13,624 mn and Rs. 2,303 mn grew 35% and 50% respectively in June quarter FY19. EBDITA also increased at a multiplie of 1.4x and stood at Rs. 4,398 mn against Rs. 3,085 mn in the corresponding quarterprevious years. EBDITA Margin is at 32.28% in Q1 FY19 and is the best in the industry ahead of MRF, Ceat & Apollo tyres rising 182 basis points YoY and 149 basis points sequentially. Promoter shareholding has increased from 54.37% in June 2017 to 58.3 % in current Q1 FY19. Net Profit Margin stood at 16.90% in current June quarter against 15.12% same period previous year, rising 178 basis points YoY. Debt equity ratio for the company as on 31 st March 2018 stood at 0.16 on consolidated basis. The company has pared down its long term debt from Rs. 17,064 Mn as on 31st March 2014 to Rs. 25 Mn as on 31st March 2018. As a result finance costs have declined 35% YoY in June quarter FY19. The company incurred some debt for its Bhuj plant, an all-steel OTR radial tyre plant for higher mix of radialisation in its product profile and improving its margins during peak financial crises with Europe & US slowing down and most of its peers losing market share and scaling back production. But BKT marched on with a capital layout of Rs. 26,000 Mn and by FY19, successfully curtailed its long term debt to just Rs. 25 Mn. This has been achieved with its business model where more than half of its revenues comes from the noncyclical agriculture sector and the rest from the cyclical i.e industrial, mining & other segments. The revenue profile is further cemented by focusing on replacement market which contributes around 70% and is the last segment to be impacted especially in agriculture sectors in highly mechanized Europe & US markets. With consistent volume growth and aggressive yearly guidance, controlled debt profile, prudent currency management in volatile times, Europe recovering and US back to its feet, Balkrishna Industries hit its life time high of Rs. 2450 last year before its bonus issue. The company has recently announced a capex outlay of $100 Mn for US to set up a Greenfield facility to diminish tariff risk on US imports, and further enhance production volumes which have been growing over the past few years. Apart from this, Rs. 1000 crores will be incurred for setting up a Greenfield project at Waluj and 5,000 MT p.a, new line for all layers of Steel Radial OTR Tyres in Bhuj. The company is also in the process of laying out its carbon black project at Bhuj with 140,000 MT p.a capacity to be completed by FY21 with capex of Rs. 425 cr. Though the capex announcement (considered to be margin dilutive) spooked investors, buoyant demand in off highway tyre segment with Balkrishna’s revenue growth at stronger footing than its global peers, seems to be the right step in the right direction in the current trade/tariif war scenario. In addition to that, strong domestic manufacturing base, lower rubber prices, backward integration of carbon black project will aid in maintaining its operating margins and neutralize the impact of volatile crude prices. Balkrishna Industries has worked its way to the top over the past 30 years moving from Rs. 15 per share in the 2009 to Rs 2450 in December 2017. It’s been worth the wait for its investors who are hoping it will be another MRF, and a global one. Improving outlook leads to re-rating for Balkrishna Industries, stock gains
Capacity expansion expected to improve profitability