Скачать или смотреть Balkrishna Industries’ Net Profit declines 68% YoY; Stock tanks in trade! Stock Market Update

Tyre-manufacturer Balkrishna Industries reported a weak set of numbers in the quarter gone by. While revenue did see an uptick of ~6% YoY; the Gross margin declined by ~500 bps to 48.6%. Gross Margin was lower despite correction in raw materials. This was mainly on account of the presence of high cost inventory in the system. EBITDA sharply missed estimates due to lower volumes and decline in EBITDA per kg. The management also highlighted some pressure on volumes is expected to continue in Q4 in Europe and Americas amid continued de-stocking. For a more in-depth analysis, listen in.
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