Hold Balkrishna Industries; target of Rs 2163: Sharekhan

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26 Aug, 2025 12:21

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Sharekhan's research report on Balkrishna Industries

We have reduced Balkrishna’s FY23E and FY24E earnings by 15.9% and 18.8% on account of rising concerns over Europe’s crop yield and production, led by the severe heat wave and drought in various parts of Europe. EBITDA margins expected to remain under pressure, driven by unfavorable product mix and increase in other operating costs. Well geographically diversified portfolio, timely execution of capex plans, market share gains and entry into new markets continue to drive double digit revenue growth going forward, despite headwinds in European business.

Outlook

We downgrade our ratings on Balkrishna Industries Ltd (Balkrishna) to Hold, with a 12-month PT of Rs.2,163. Stock trades at P/E multiple of 23.2x and EV/EBITDA multiple of 16.8x its FY2024E estimates.

More Info

At 15:10 hrs Balkrishna Industries was quoting at Rs 1,991.00, down Rs 15.60, or 0.78 percent.

It has touched an intraday high of Rs 2,020.00 and an intraday low of Rs 1,980.55.

It was trading with volumes of 8,818 shares, compared to its thirty day average of 25,630 shares, a decrease of -65.59 percent.

In the previous trading session, the share closed down 0.04 percent or Rs 0.90 at Rs 2,006.60.

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 26.92 percent below its 52-week high and 18.37 percent above its 52-week low.

Market capitalisation stands at Rs 38,489.45 crore.

For all recommendations report, click here

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Balkrishna Industries - 080922 - khan