Hem Securities report on Balkrishna Industries
Balkrishna Industries Ltd Q1FY23 consolidated revenues came in at ₹2619 Cr, up 45.3% YoY and up 10.3% QoQ. EBITDA for Q1FY23 stood at ₹444 Cr, down 13.1% YoY and down 11.1% QoQ. EBITDA margins for Q1FY23 came at 16.95%, -1141 bps YoY and -424 bps QoQ. PAT for Q1FY23 stood at ₹307 Cr, down 7.1% YoY and down 18.1% QoQ.
Outlook
We give a “BUY” rating on the stock and value the stock at 22.5x FY24E earnings to arrive at the target of ₹2293.
More Info
At 11:23 hrs Balkrishna Industries was quoting at Rs 1,991.15, down Rs 1.25, or 0.06 percent.
It has touched an intraday high of Rs 1,997.05 and an intraday low of Rs 1,982.90.
It was trading with volumes of 5,869 shares, compared to its thirty day average of 24,190 shares, a decrease of -75.74 percent.
In the previous trading session, the share closed down 1.76 percent or Rs 35.60 at Rs 1,992.40.
The share touched its 52-week high Rs 2,724.40 and 52-week low Rs 1,681.95 on 23 September, 2021 and 07 March, 2022, respectively.
Currently, it is trading 26.91 percent below its 52-week high and 18.38 percent above its 52-week low.
Market capitalisation stands at Rs 38,492.35 crore.
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