Balkrishna Industries shares hit all-time high after 87% jump in Q4 profit

The stock was trading 10% higher at ₹3,078.6 on the NSE at 12:01 pm. It was up 10.3% at ₹3,088 on the BSE.

Intraday, the stock hit an all-time high of ₹3,174.3.

Balkrishna Industries posts strong Q4 results

Balkrishna Industries or BKT reported an 87.3% jump in consolidated net profit to ₹486.7 crore for the quarter ended on March 31, 2024. In the year-ago period, the net profit was ₹259.8 crore.

Sales climbed 15.75% to ₹2,681.9 crore in Q4 FY24, as against ₹2,317 crore in the corresponding period last year.

Earnings before interest, tax, depreciation, and amortisation (EBITDA) increased by 42% to ₹681.2 crore in the fourth quarter from ₹479.8 crore in the same period a year ago, with the EBITDA margin improving to 25.4% from 20.7%.

For FY24, the net profit was ₹1,471.49 crore, up 39.1% from ₹1,057.4 crore in the last fiscal. However, sales fell by 4% to ₹9,368.8 crore in the fiscal year 2023-24.

The company's board also recommended a final dividend of ₹4 per share on face value of ₹2 each for the year ended on March 31, 2024, subject to shareholders' approval.

Balkrishna Industries is a global tyre manufacturer based in Mumbai. It manufactures off-highway tyres used in specialist sectors like mining, earthmoving, gardening, and agriculture. The company's plants are located in Bhiwandi, Aurangabad, Dombivali, Chopanki, and Bhuj.