with a market valuation of 44,585.71 crore, Balkrishna Industries Limited is a Large-cap company operating in the Consumer Discretionary industry. The company is the market leader in off-highway tires for a number of specialty industries including agriculture, construction, earthmoving, ports and mining. The company has declared its third quarter earnings with a dividend jump of 200%.
“The board has declared a third interim dividend of Rs. 4.00 per equity share (200%) on equity shares of Rs. 2/- each (face value) for the financial year 2022-23 and the payment thereof shall be deposited/remitted within 30 days from the date of declaration in accordance with the applicable provisions of the Companies Act, 2013, to such shareholders as the record date i.e. February 18 , 2023,” said Balakrishna Industries in a stock exchange filing.
In Q3FY23, the company reported a net profit of 108.38 crore as against 338.95 crore in Q3FY22, representing a decline of 68%. Balkrishna Industries posted revenue from operations of 2165.57 crore in the quarter ending December 2022 2045.81 crore during the quarter ending December 2021, representing a profit of 5.85%. Company recorded net expense 2059.06 cr in Q3FY23 as compared to Rs. 1708.78 crore in the year-ago quarter. EPS of Balkrishna Industries reached as compared to 5.61 in Q3FY23 17.53 in the same quarter last year.
Balakrishna Industries shares on NSE on Friday 2,304 each, up 0.07% from the previous close 2,302.45. The stock registered a net volume average of 148,038 shares and an average delivery volume of 4,966,675 shares at 33.55%. In last 1 year, the stock is up 10.51% and on YTD basis, it is up 8.27% in 2023 so far.
The stock touched a 52-week high 2,450.00 (02-Aug-2022) and hit a 52-week low 1,690.55 (07-Mar-2022), indicating that at the current market price, the stock is trading 5.95% down from 1-year high and 36.28% up from 1-year low. For the quarter ending December 2022 or Q3FY23, the company reported promoter shareholding of 58.30%, FII holding of 12.45%, DII holding of 20.12%, Government holding of 0.10% and public holding of 9.03%.
Know your inner investor
Do you have guts of steel or are you a victim of insomnia regarding your investments? Let’s define your investment approach.
catch all business News, market news, today’s fresh news events and Breaking News Update on Live Mint. download mint news app To get daily market updates.