BKT maintains 30% CAGR

During Reifen 2014 a BKT (Balkrishna Industries) representative commented that the Indian off-road tyre specialist’s turnover has increased by an average of 30 per cent a year over the last five years. A look at the company’s results for the 2013-14 financial year shows this is indeed the case; for the 12 months to 31 March 2014 the company achieved net sales of Rs 35,770 million (£360.4 million). This is a long way from the Rs 12,572 billion earned in 2008-09. EBITDA was Rs 8,940 million (£90.1 million) for the 2013-14 period, a year-on-year increase of 34.5 per cent, while the EBITDA margin rose from 20.8 per cent to 25.0 per cent. Net profit for the year amounted to Rs 4,883 million (£49.2 million), with an earnings per share of Rs 50.53.

The agricultural segment accounted for 64 per cent of sales volumes in the latest financial year, the representative added. A further 33 per cent of sales were generated in the OTR segment, with “other” sales accounting for the remaining three per cent. Sales to OEM customers were 19 per cent of the total (15 per cent in 2012-13), aftermarket sales 77 per cent and off-take sales four per cent.