Balkrishna Industries shares jump 5% on strong Q4 performance

Shares of Balkrishna Industries Limited, a prominent tyre manufacturer for the agricultural and construction industries, surged 7 percent in morning trade on May 18. The stock was locked in the upper circuit after the company reported impressive fiscal fourth-quarter results.

For the quarter ended March 31, 2024, Balkrishna Industries recorded a massive 87.4 percent increase in net profit, reaching Rs 486.8 crore, significantly higher than the Rs 260 crore reported in the same period last year.

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The company’s revenue growth for the fourth quarter was also robust, rising 15.7 percent to Rs 2,682 crore, compared to Rs 2,317 crore in the corresponding quarter of the previous fiscal.

Balkrishna Industries’ EBITDA (earnings before interest, tax, depreciation, and amortization) saw a remarkable 42 percent increase, climbing to Rs 681.2 crore from Rs 479.8 crore year-on-year. The company’s EBITDA margin improved to 25.4 percent from 20.7 percent.

As of 10:05 am, Balkrishna Industries’ shares were trading 5% percent higher at Rs 2,797.75 on the National Stock Exchange (NSE).