Buy Balkrishna Industries, target price Rs 2820: ICICI Securities

ICICI Securities has buy call on Balkrishna Industries with a target price of Rs 2820. The current market price of Balkrishna Industries is Rs 2301.25.

Balkrishna Industries Ltd., incorporated in the year 1961, is a Large Cap company (having a market cap of Rs 44543.18 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 31-12-2023, the company reported a Consolidated Total Income of Rs 2340.04 Crore, unchanged .00 % from last quarter Total Income of Rs Crore and unchanged .00 % from last year same quarter Total Income of Rs Crore. Company reported net profit after tax of Rs 305.42 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 58.29 per cent stake in the company as of 31-Dec-2023, while FIIs owned 12.69 per cent, DIIs 21.23 per cent.