Hold Balkrishna Industries; target of Rs 2720: Sharekhan

About this update from Balkrishna Industries Limited

Sharekhan's research report on Balkrishna IndustriesReported EBITDA at Rs 518 crore in Q2FY24 against estimate of Rs 509 crore. Management has guided for a stable demand scenario in H2FY24 compared to demand pattern in H1FY24. Stock trades at P/E multiple of 23.6x and EV/EBITDA multiple of 14.9x its FY26 estimates.OutlookWe retain our Hold rating on the Balkrishna Industries (BKT) with revised PT of Rs 2720 in hope of revival in demand in medium term and improvement in EBITDA margins on steady RM cost trend.For all recommendations report, click hereDisclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.Balkrishna Industries - 23 - 10-2023 - khan

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