Balkrishna Industries Achieves 52 Week High on Strong Q4FY24 Earnings

Balkrishna Industries shares hit a 52-week high after robust Q4FY24 results, with PAT up 88% YoY to ₹481 crore and sales up 13% to ₹82,085 crore. The company also announced a final dividend of ₹4 per equity share for FY24.
Balkrishna Industries Achieves 52 Week High on Strong Q4FY24 Earnings

Balkrishna Industries saw its share price locked in a 5% upper circuit, reaching a 52-week high following the announcement of robust Q4FY24 results. 

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The company’s profit after tax (PAT) for the quarter ended March 2024 jumped 88% year-on-year to ₹481 crore, up from ₹256 crore in the same quarter the previous year. Sequentially, the PAT grew 56%, according to the company’s exchange filing.

Sales for Q4FY24 increased by 13% year-on-year, reaching ₹82,085 crore, compared to ₹72,676 crore in Q4FY23. On the operating level, earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at ₹699 crore for the fourth quarter of FY24, up from ₹494 crore in the corresponding period of the previous fiscal year. The EBITDA margin improved to 25.9% in the reporting quarter from 21.3% in the same period last year.

On Friday, the stock opened at an intraday high of ₹2,798.95 apiece on the BSE and touched an intraday low of ₹2,748.90. The surge in stock price reflects investor optimism driven by the company’s strong financial performance.

In addition to the impressive quarterly results, the company announced that its board has recommended the payment of a final dividend of ₹4 per equity share (200%) on equity shares of ₹2 each for the fiscal year ended March 31, 2024. This move is seen as a positive step, rewarding shareholders with consistent returns.

Overall, Balkrishna Industries’ strong Q4 performance, marked by significant growth in profit and improved operating margins, has boosted investor confidence, driving the stock to a new high. The company’s consistent financial health and strategic dividend payout further underline its robust market position.

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