Buy Balkrishna Industries, target price Rs 2516: ICICI Securities

ICICI Securities has buy call on Balkrishna Industries with a target price of Rs 2516. The current market price of Balkrishna Industries is Rs 1800.9. Time period given by analyst is one year when Balkrishna Industries Ltd. price can reach defined target.

Balkrishna Industries Ltd., incorporated in the year 1961, is a Large Cap company (having a market cap of Rs 35233.02 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-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 2158.85 Crore, down -2.12 % from last quarter Total Income of Rs 2205.53 Crore and up 38.05 % from last year same quarter Total Income of Rs 1563.84 Crore. Company reported net profit after tax of Rs 338.95 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 58.29 per cent stake in the company as of 31-Dec-2021, while FIIs owned 15.07 per cent, DIIs 11.58 per cent.