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Balkrishna Industries Ltd. reported impressive numbers in Q1 and recorded its highest ever quarterly volume led by strong volume in both agriculture and off-the-road segments.
On the margin front, Ebitda margin contracted 276 basis points QoQ on elevated raw material and logistic cost.
Management stated that retail sales are strong across regions led by strong demand for agriculture and OTR tyres.
The management intact with its volume guidance of 250,000-265,000 million tonne (10-17% YoY growth) for FY22.
Current inventory stands at normal level 35-40 days.
In order to mitigate raw material cost inflation, Balkrishna Industries has taken price hikes of 3% in Q1 and another 3% in July 2021.
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