Investor Presentation May 2026
BALKRISIND · price
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BKT reported FY26 revenue of Rs. 10,656 Cr (flat YoY) with EBITDA at Rs. 2,423 Cr (-10%) and net profit at Rs. 1,222 Cr (-25%). EBITDA margin declined 252 bps to 22.7% due to pricing pressures and higher costs. Q4FY26 showed modest recovery with 2% revenue growth. The company announced a 2.2x revenue growth target to Rs. 23,000 Cr by FY30 with ~17% CAGR, requiring Rs. 6,800 Cr capex through FY29. New capex of Rs. 2,000 Cr was approved for capacity expansion and AI automation. Management guided blended margins to recover to 23-25% post full commercialization. OHT business contributes 91% revenue while the new On-Highway business targeting India's replacement market is ramping up.
Margin compression in FY26 is concerning but management's forward guidance to 23-25% margins and aggressive Rs. 6,800 Cr capex for diversification beyond OHT tires suggests a medium-term recovery path. The new On-Highway segment (targeting 20% revenue by FY30) diversifies revenue streams away from cyclical OHT dependency.