Balkrishna Industries - Continues To Outperform Industry Exports: ICICI Securities

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .ICICI Securities Report.Balkrishna Industries Ltd. has reported strong demand trends in its key overseas markets with overall Q2 FY23 exports revenue being up 25% YoY (in U.S. dollar terms) against industry exports being up 5% YoY. The data indicates growth momentum in off-the-road segment exports (up 10% YoY) and steady agri demand (up ~3% YoY) despite adverse market conditions in target geographies and supply-chain issues. Data continues to support robust demand momentum driven by both agri and OTR segments (H1 FY23 industry exports in U.S. dollar are up ~16% YoY), on a strong base of H1 FY22. Regionally, growth in Q2 FY23 was led by the U.S. market (up 55% YoY) followed by rest of world at 12% YoY. We believe the benefit of new contracts of containers at lower rates and lag effect of lower raw material costs could aid Balkrishna Industries Ebitda margin to revert towards 24-25% levels Q4 FY23 onwards, over and above delivering ~5% volume growth in FY23..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Balkrishna Industries - Continues To Outperform Industry Exports: ICICI Securities

The company has reported strong demand trends in its key overseas markets with overall Q2 FY23 exports revenue being up 25% YoY.

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