1. Opening Hook
So the U.S. hiked tariffs on Indian tires to 50%, and Balkrishna’s exports hit a pothole big enough to swallow a Caterpillar truck. The management called it a “temporary headwind.” Investors called it “ouch.” But amid all the chaos, BKT flexed its British Safety Council Sword of Honour—because if not profits, at least someone’s winning awards.
As the Bhagavad Gita says, “You have the right to work, but not to the fruits thereof.” Seems Rajiv Poddar’s been reading it too closely this quarter. Keep reading — it gets more rubber-burning later. 🚜
2. At a Glance
- Revenue ₹2,360 Cr – Volume hit by tariffs, CFO swore no spreadsheet sorcery involved.
- EBITDA ₹500 Cr (21.5%) – Margins deflated like a punctured tractor tire.
- PAT ₹265 Cr – Not bad for a company at half-tariff throttle.
- Volume 70,252 MT – Down 4% YoY; U.S. tariffs drove sales off a cliff.
- Net Debt ₹456 Cr – Still nearly debt-free; rubber kings hate leverage.
- Dividend ₹4/share – Because “when in doubt, payout.” 💸
3. Management’s Key Commentary
“Tariff headwinds intensified with the U.S. increasing import duties to 50%.”
(Translation: America slammed the brakes on our exports, and our tires screeched.)
“We remain cautiously optimistic about the medium term.”
(They’re optimistic the storm will end before the factory rusts.)
“We are targeting ₹23,000 Cr revenue by 2030.”
(Ambitious, unless inflation does most of the heavy lifting.)
“EUDR compliance forced us to stockpile raw materials.”
