BKT’s net profit shot up 88% YoY while revenue jumped 16% to Rs 2,697 crore backed by a sales volume of 82,085 MT — up 13% compared to the same period last year.
Company’s EBITDA margin stood at 25.9%, an increase of 467 bps from the comparable period.
The board of BKT also declared a dividend of Rs 4 per share.
“The Board has recommended payment of Final Dividend of Rs. 4/- per Equity Share (200 %) on the Equity Shares of Rs. 2/- each (face value) for the year ended 31″ March, 2024, subject to the approval of the Shareholders of the Company at the ensuing Annual General Meeting,” said the filing to the exchanges.The tyre manufacturer reported that its highest segmental sales has come from agriculture with 60.5% of the total sales. Geographically, 47% of the sales come from Europe.Shares of BKT have gained 20% in the last one year while it has increased the investors’ wealth by 12% in the last 6 months alone.Balkrishna Industries is an multinational tyre manufacturing company, known for its off-highway tyres used in specialist segmentations like mining, earthmoving, agriculture, and gardening. It has five factories located in Aurangabad, Bhiwadi, Chopanki, Dombivali, and Bhuj.
BKT is a service provider to OEM’s globally, including JCB, Kubota, John Deere, Hamm and Deutz Fahr.
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