The call ran from 10:01 AM to 10:30 AM IST (29 min).
Key takeaways
Balkrishna Industries reported strong Q2 volume growth but margins faced severe headwinds from raw material inflation and freight costs.
| Management target | Revenue 20.0% 2030 |
|---|
| Revenue growth | Standalone revenue ₹3,450 Cr, up 49% YoY. |
|---|---|
| Margins | EBITDA margin at 18.24%, hit by inflation and freight. |
| Demand visibility | Positive trends in India; stable in Americas; weather-related pressure in Europe. |
| Management confidence | Balanced, acknowledging significant cost headwinds despite strong volumes. |
Growth
Standalone revenue grew 49% YoY to ₹3,450 Cr, driven by volume growth across OHT and Carbon Black.
Outlook
Management targets 5% market share and 20% turnover contribution from the on-road segment by 2030.
Risks
Persistent raw material inflation and high sea freight costs are expected to impact margins for several quarters.
Last quarter's promises, checked
Delivered
- Phase II Carbon Black 360,000 MTPA → commissioned Q1 (= BEAT)
Partly delivered
- ₹1,500-2,000 Cr more FY27 capex → H1 capex ₹1,850 Cr, FY total pending (= PARTIAL)
- Gradual On-Highway ramp-up from Q2 → no on-road revenue disclosed (= PARTIAL)
- Americas growth momentum to sustain → Americas described as stable (= PARTIAL)
Missed
- Full pass-through of ~5% price hike in Q2 → hikes 2-3%, costs not fully passed on (= MISS)
- ~2% margin hit from RM inflation → EBITDA margin 20.61% to 18.24% (= MISS)
- Better EBITDA-to-PAT flow-through → PAT ₹432 Cr to ₹291 Cr (= MISS)
Summary by ALFA Finder, written with AI assistance from our own recording of the call, published . Open it on ALFA Filings ›
The results behind this call
Balkrishna Industries Q2 FY27 Results: Net Profit ₹292.6 Cr, Up 7.1% YoY
Balkrishna Industries Ltd reported revenue from operations of ₹3,472 Cr (+45.1% YoY) and net profit of ₹292.6 Cr (+7.1% YoY) for Q2 FY27.
- Key figure
- Net profit ₹292.6 Cr · +7.1% YoY
What management said last time
Full summary →From the call summary published .
Outlook they gave
Capex of ₹2,000cr approved; targeting ₹5,000cr On-Highway revenue by 2030 and PCR tyre launch by end-2026.
Growth they described
FY26 volumes rose to 317,356 MT; Q4 volumes hit record high. PAT for FY26 stood at ₹1,222cr.
Call details
| Company | Balkrishna Industries Limited |
|---|---|
| NSE symbol | BALKRISIND |
| ISIN | INE787D01026 |
| Call | Q2 FY27 earnings call |
| Date | Thursday, 5 November 2026 |
| Time | 10:00 AM IST |
| Length | 29 min |
| Audio | Our stream on YouTube ↗ |
Balkrishna Industries Limited: key numbers
- Share price
- ₹2,243.70
- Market cap
- ₹43,375 Cr
- Revenue (annual)
- ₹10,823 Cr
- Net profit (annual)
- ₹1,243 Cr
- P/E (TTM)
- 30.4×Sector 31.6×
- Promoter holding
- 58.29%+0.00% QoQ
- FII holding
- 9.06%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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