Balkrishna Industries Limited has informed the Exchange about Transcript
BALKRISIND · price
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Balkrishna Industries reported a 4% YoY volume decline in Q2 FY26 at 70,252 MT, with US sales hit by 50% tariffs. Standalone revenue stood at INR 2,360 crore and H1 revenue at INR 5,079 crore (including ~INR 70 crore realized FX loss). Q2 EBITDA was INR 500 crore with margins of 21.5% (H1: INR 1,155 crore at 22.7% margin), and Q2 PAT was INR 265 crore (H1: INR 552 crore). Net debt is modest at INR 456 crore, H1 capex was INR 1,737 crore (full-year guidance: INR 2,000–2,200 crore), and a second interim dividend of INR 4/share was declared. Management reiterated the long-term vision of INR 23,000 crore revenue by 2030, with the new TBR/PCR consumer business targeting INR 5,000 crore revenue (~7-8% market share) by 2030, with first production in H2 FY27. They declined to give volume guidance, citing volatility, and noted EUDR-related cost impact in Q3 should be offset by softer raw material prices.
Near-term pressure persists from US tariffs and softer European demand, keeping volumes and margins range-bound. The reaffirmation of long-term growth targets, low net debt, steady dividend, and disciplined capex provide comfort for long-term investors, but absence of fresh volume guidance and continued US uncertainty may keep the stock range-bound in the near term.