Add Balkrishna Industries, target price Rs 2709: ICICI Securities

ICICI Securities has add call on Balkrishna Industries with a target price of Rs 2709. The current market price of Balkrishna Industries Ltd. is Rs 2497.

Balkrishna Industries Ltd., incorporated in the year 1961, is a Large Cap company (having a market cap of Rs 48254.87 Crore) operating in Tyres sector.

Balkrishna Industries Ltd. key Products/Revenue Segments include Tyres & Tubes, Export Incentives, Scrap and Other Operating Revenue for the year ending 31-Mar-2023.



Financials
For the quarter ended 30-09-2023, the company reported a Consolidated Total Income of Rs 2360.28 Crore, up 4.20 % from last quarter Total Income of Rs 2265.11 Crore and down -18.16 % from last year same quarter Total Income of Rs 2884.17 Crore. Company reported net profit after tax of Rs 347.44 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 58.29 per cent stake in the company as of 30-Sep-2023, while FIIs owned 12.53 per cent, DIIs 21.07 per cent.