Transcript of Conference call with Investors/ Analysts conducted on Saturday, 9th May 2026 to discuss the Q4 and FY26 Results.
BALKRISIND · price
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Balkrishna Industries reported highest ever Q4 and FY26 volumes (85,820 MT in Q4, 317,356 MT annual) with Q4 standalone revenue of INR 2,894 crores and FY26 revenue of INR 10,656 crores. EBITDA margin for Q4 stood at 22.9% and FY26 at 22.7%, impacted by raw material price increases of 4-5% in Q4. The company entered the truck bus radial (TBR) segment in February 2026 and 2-wheeler tires, with plans to launch passenger car radial (PCR) tires by end of calendar year 2026. An additional INR 2,000 crores capex was approved, taking total capex plan to INR 6,800 crores (INR 3,000 crores already spent). The board recommended a final dividend of INR 4 per share. Raw material prices are expected to rise further by 7-8% in Q1 FY27, with price hikes of 3-5% already implemented.
While volumes are hitting records, margins face near-term pressure from rising raw material costs. Management guided that margin improvement may be limited in FY27 despite price hikes, as the company navigates geopolitical headwinds and raw material inflation while scaling up the on-highway business.