Balkrishna Industries Limited Announces Unaudited Standalone Earnings Results for the Second Quarter and Half Year Ended September 30, 2017; Revises Production Guidance for the Second Half of 2017; Provides CapEx Guidance for the Fiscal Year 2018 and 2019
November 08, 2017 at 09:09 am EST
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Balkrishna Industries Limited announced unaudited standalone earnings results for the second quarter and half year ended September 30, 2017. For the quarter, the company reported total income of INR 11,969.5 million as compared to INR 10,490.9 million for the same period last year. Profit before exceptional items and tax was INR 3,071.4 million as compared to INR 3,338.5 million for the same period last year. Profit before tax was INR 3,071.4 million as compared to INR 3,338.5 million for the same period last year. Profit for the period was INR 2,029.8 million as compared to INR 2,429.2 million for the same period last year. Basic and diluted earnings per share were INR 21.00 as compared to INR 25.13 for the same period last year. EBITDA was INR 3,780 million showing a growth of around 14% year-on-year with a margin of 31.95%.
For the half year, the company reported total income of INR 23,008.0 million as compared to INR 20,103.3 million for the same period last year. Profit before exceptional items and tax was INR 5,349.8 million as compared to INR 5,615.2 million for the same period last year. Profit before tax was INR 5,349.8 million as compared to INR 5,615.2 million for the same period last year. Profit for the period was INR 3,561.2 million as compared to INR 3,919.8 million for the same period last year. Basic and diluted earnings per share were INR 36.84 as compared to INR 40.55 for the same period last year. EBITDA was INR 6,630 million with a margin of around 29.5%.
For the second half of 2017, the company revised annual volume guidance from 185,000, 190,000 to 190,000, 195,000 metric tons.
For fiscal years 2018 and 2019, CapEx expected to be in the range of INR 1,500 million to INR 2,000 million.
Balkrishna Industries Limited is an India-based company that is engaged in the business of manufacturing and selling of off-highway tires (OHT) in the specialist segments, such as agricultural, industrial and construction, earthmovers and port, mining, forestry, lawn and garden and all-terrain vehicles (ATV). The Companyâs agricultural applications include tractor, harvester, implements, telehandler, agro truck, go-kart, golf kart, mower, fertilizer truck, compact loader, backhoe loader, mobile home, and universal vehicle. Its industrial applications include compactor, container handler, reach stacker, excavator, forklift, skid steer, grader, straddle carrier, RTG crane, mobile crane, terminal tractor, tow tractor, light truck, road rail equipment, trailer, and military truck. Its off the road applications include articulated dump truck, rigid dump truck, load haul dump, low profile dump truck, underground mining vehicle, and scraper.
Balkrishna Industries Limited Announces Unaudited Standalone Earnings Results for the Second Quarter and Half Year Ended September 30, 2017; Revises Production Guidance for the Second Half of 2017; Provides CapEx Guidance for the Fiscal Year 2018 and 2019