10% UPPER CIRCUIT on Balkrishna Industries, on strong Q4 numbers - Here is what Sharekhan says
Sharekhan says that Balkrishna Industries reported another quarter of strong operational performance, beating our estimates. Net revenue grew by 25.7% yoy to Rs 1746 cr in Q4FY2021, largely driven by 17% volume growth at 68,002 MT of tyres and 7.1% improvement in average realisation. Management has witnessed strong demand in the agriculture segment across geographies. In the other segments, demand has seen an uptick because of increased commodity prices, infrastructure creation, and pick-up in economic activity
Balkrishna Industries continues to maintain its target to achieve 10% global market share in tyres in the medium term from 6% currently: Reuters