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Balkrishna Industries (502355) investor relations material

Balkrishna Industries Q1 25/26 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q1 25/26 earnings summary28 Jul, 2025

Executive summary

  • Q1 FY26 was marked by volatility due to tariff-related disruptions, with a 90-day pause on tariffs leading to gradual normalization in ordering cycles.

  • Revenue grew 1% year-over-year to Rs. 2,759 crore, while net profit declined 40% to Rs. 287 crore, impacted by lower export share, forex losses, and higher depreciation.

  • Sales volume reached 80,664 MT, a marginal 3% YoY decline, reflecting resilience amid global headwinds.

  • India contributed 35% to sales volumes, growing 14.4% year-over-year, driven by strong brand acceptance and new product launches.

  • Interim dividend of Rs. 4 per equity share declared.

Financial highlights

  • Standalone/consolidated revenue for Q1 FY26 was Rs. 2,759–2,760 crore, up from Rs. 2,690 crore YoY.

  • EBITDA stood at Rs. 655 crore with a margin of 23.8%, down 8% YoY.

  • Profit after tax was Rs. 287 crore, down 40% YoY, mainly due to a Rs. 154 crore mark-to-market forex loss.

  • Cash and cash equivalents stood at Rs. 3,498 crore as of June 30, 2025.

  • Basic and diluted EPS for Q1 FY26 was Rs. 14.91.

Outlook and guidance

  • Management expects further normalization and improved market share as tariff uncertainties resolve.

  • Targeting 2.2x revenue growth by FY30 to Rs. 23,000 crore, with 8% global OHT market share.

  • Margin guidance for the full year remains at 24–25% EBITDA, with some quarters expected to be above or below this range.

  • Expanding carbon black capacity to 360,000 MTPA by early 2026, supporting sustainability and supply security.

  • Entry into premium passenger car and commercial vehicle radial tires for India, with pilots launching in FY26–FY27.

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Q2 25/2625 Oct, 2025
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