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Balkrishna Industries (502355) investor relations material

Balkrishna Industries Q2 25/26 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 25/26 earnings summary1 Nov, 2025

Executive summary

  • Q2FY26 and H1FY26 sales volumes declined 4% year-over-year, mainly due to U.S. tariff headwinds and softer global demand.

  • Strategic focus on strengthening positions in India and Europe, with incremental growth targeted in other global markets.

  • Received Caterpillar Excellence Level Award for the fourth consecutive year and British Safety Council honors for the Bhuj plant.

  • Unaudited standalone and consolidated financial results for the quarter and half year ended 30th September 2025 were approved by the Board on 31st October 2025.

  • Interim dividend of Rs. 4 per share declared for Q2 FY26, totaling Rs. 8 per share for H1 FY26.

Financial highlights

  • Q2FY26 standalone revenue was INR 2,360 crore, down 6% YoY; consolidated revenue was Rs. 2,760.02 crores, up from Rs. 2,419.74 crores YoY.

  • Q2FY26 standalone net profit was INR 256 crore; consolidated net profit was Rs. 357.30 crores.

  • H1FY26 standalone revenue was INR 5,079 crore, with a marginal YoY decline; H1FY26 net profit was INR 552 crore.

  • Q2FY26 standalone EBITDA was INR 500 crore (21.5% margin); H1FY26 EBITDA was INR 1,155 crore (22.7% margin).

  • Capex for H1FY26 was approximately INR 1,737 crore; full-year capex expected at INR 2,000–2,200 crore.

Outlook and guidance

  • Targeting revenue of INR 23,000 crore by FY30, with a 17% CAGR and 2.2x growth.

  • Expects blended margins post full commercialization in the 23–25% range.

  • Capex for FY26 expected to be INR 2,000–2,200 crore, with remaining capex from the INR 35 billion plan to be spent over the next two years.

  • No specific volume growth guidance due to global volatility.

  • Capital expenditures previously announced are expected to be completed as scheduled.

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