Tyres
Tyres & Tubes
from 2,307 today
Balkrishna Industries reported 1Q earnings ahead of estimates primarily due to an MTM gain and higher other income, though margins remained under pressure due to an adverse mix, commodity inflation, higher freight costs, and rising promotional spends. Reiterate Neutral with a target price of INR2,259, valued at 22x FY28E EPS.
Q1FY27 revenue surged 24% YoY to INR34.1bn, beating estimates due to higher-than-expected volumes and realisation. Retain 'BUY' with an unchanged target price of INR2,600.
Ratings and target prices as published by each firm. Each summary condenses that firm's stated view in its own note and is attributed to it; no report text is reproduced.
