Balkrishna Industries Limited has informed the Exchange regarding 'Investor Presentation'.
BALKRISHNA INDUSTRIES LTD.
Investor Presentation
October ‘25
Safe Harbor
Investor Presentation
This presentation and the accompanying slides (the “Presentation”), which have been prepared by Balkrishna Industries Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.
This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.
Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the tire industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third party statements and projections.
2
Table of Contents
Investor Presentation
• Q2 & H1FY26 HIGHLIGHTS
• GROWTH ROADMAP: GOALS AND STRATEGY
• BKT AT A GLANCE
• RECENT ACHIEVEMENTS & MILESTONES
• SUSTAINABILITY AT BKT
3
Q2 & H1FY26 Highlights
Performance Snapshot – Q2FY26
Investor Presentation
Sales Volume
70,252 MT
-4% YoY
EBITDA
Rs. 500 cr
-19% YoY
Net Profit
Rs. 265 cr
-24% YoY
Revenue
Rs. 2,320 cr
-6% YoY
EBITDA Margin
21.5%
-358 bps YoY
Dividend*
Rs. 4/- per equity share
All Figures on Standalone basis
* 2nd Interim Dividend
5
Performance Snapshot – H1FY26
Investor Presentation
Sales Volume
150,916 MT
-4% YoY
EBITDA
Rs. 1,155 cr
-13% YoY
Net Profit
Rs. 552 cr
-33% YoY
Revenue
Rs. 5,079 cr
-2% YoY
EBITDA Margin
22.7%
-286 bps YoY
Dividend*
Rs. 8/- per equity share
All Figures on Standalone basis
* Total of 1st and 2nd Interim Dividend
6
Sales Volume Profile
Investor Presentation
3,01,181
2,92,628
3,15,273
1,50,916
Sales Volume
Sales volumes in MT
All Figures on Standalone basis
FY23
FY24
FY25
H1FY26
7
Volume Profile
Investor Presentation
Segmental Sales
Channel Sales
Geographical Sales
3.7%
1.3%
11.0%
Sales Bifurcation
38.1%
27.7%
39.2%
H1FY26
H1FY26
58.2%
H1FY26
34.9%
Agriculture
OTR
Others
Replacement
OEM
Others
Europe
Americas
India
RoW
71.0%
14.9%
All Figures on Standalone basis
8
Profit & Loss
Particulars (Rs in Cr)w
Revenue from Operations
Realized Gain on Foreign Exchange
Raw Material
(Increase) / Decrease in Stock
Employee Expenses
Other Expenses
EBITDA Margin
Other Income
Unrealized Gain / (Loss)
Interest & Finance Charges (Net)
Depreciation
Tax
PAT Margin
All Figures on Standalone basis
Profit Before Tax
Profit After Tax
Q2FY26
Q2FY25
Sales (MT)
Total Income
EBITDA
70,252
2,389
-68
2,320
1,145
12
126
537
500
73,298
2,436
29
2,465
1,158
12
119
558
619
21.5%
25.1%
71
-1
32
190
347
83
265
105
-53
40
165
465
116
350
11.4%
14.2%
Investor Presentation
Standalone
YoY
-4%
-6%
-19%
-25%
-24%
H1FY26
150,916
H1FY25
156,867
5,149
-70
5,079
2,431
65
257
1,172
1,155
22.7%
175
-155
61
376
738
187
552
10.9%
5,126
81
5,207
2,467
-11
235
1,183
1,333
25.6%
187
-48
54
326
1,092
265
827
15.9%
YoY
-4%
-2%
-13%
-32%
-33%
9
Balance Sheet
Particulars (Rs. Cr.) ASSETS Non-current assets Property, Plant and Equipment Capital work-in-progress Investment Property Other Tangible Assets Right of use Assets Financial Assets (i) Investments (ii) Other Financial Assets Income Tax Assets (Net) Other non-current assets Current assets Inventories Financial Assets (i) Investments (ii) Trade Receivables (iii) Cash and cash equivalents (iv) Bank Balances other than (iii) above (v) Loans (vi) Others Other Current Assets TOTAL
All Figures on Standalone basis
Sep’25
Mar’25
11,502 6,953 1,757 57 2 18
1,767 30 0 918 4,934 1,669
1,346 1,429 42 4 12 79 352 16,436
10,040 6,834 985 61 1 17
1,562 106 21 453 5,519 1,716
1,703 1,611 57 6 10 91 327 15,560
Particulars (Rs. Cr.) EQUITY AND LIABILITIES EQUITY Equity Share Capital Other Equity
Non-Current Liabilities Financial Liabilities (i)Borrowings (ii)Other Financial Liabilities Provisions Deferred Tax Liabilities (Net) Other Non-Current Liabilities
Current liabilities Financial Liabilities (i) Borrowings (ii) Trade Payables (iii) Other Financial Liabilities Other Current Liabilities Provisions Tax Liabilities TOTAL
Investor Presentation
Sep’25
Mar’25
10,443 39 10,404
10,384 39 10,345
1,196
1,013
346 321 48 349 132
387 22 43 457 103
4,797
4,163
3,270 766 404 350 6 - 16,436
2,825 746 302 285 5 - 15,560
10
Cash Flow
Particulars (Rs. Cr.)
Operating profit before working capital changes
Changes in working capital
Cash generated from operations
Direct taxes paid (net of refund) and others
Net Cash from Operating Activities
Investor Presentation
H1FY26
1,161
248
1,409
-155
1,254
FY25
2,665
-432
2,232
-479
1,753
Net Cash from Investing Activities
-1,288
-1,477
Net Cash from Financing Activities
Net Change in cash and cash equivalents
All Figures on Standalone basis
19
-15
-268
9
11
Resilient Business Model
Investor Presentation
Gross Cash and Cash equivalents of Rs. 3,159 Cr as on 30th September, 2025
Diversified Product Portfolio, spread across Agriculture, Industrial, Construction, Earthmoving, Mining, Port, Lawn and Garden and ATV tires
Self Reliant in Carbon Black along with Multiple sourcing arrangements for other Raw Materials
Total Achievable capacity to reach ~425,000 MTPA post completion of current tire capex and de-bottlenecking
BKT has built a resilient business model and is confident to withstand the near-term challenges to emerge stronger with a higher global market share
12
Growth Roadmap: Goals & Strategy
2.2x Revenue Growth by 2030
Investor Presentation
~ Rs. 10,600cr
2025
5year CAGR : ~17%
~ Rs. 23,000 cr by FY30
~ Rs. 23,000 cr
2030
~70%
OHT Segments
~10%
3rd Party sales of Carbon Black
~20%
New Tire Categories for Indian Market
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2.2x Revenue Growth by 2030
Investor Presentation
+
=
New Growth Capex for Carbon Black, Rubber Tracks and New Category Tire: Rs. 3,500cr over next 3 years
Achieve 8% global market share in OHT segment
2.2x Revenue by FY30
15
OHT Strategy
Investor Presentation
▪ Agricultural Tires: To sustain and further consolidate global leadership ▪ Mining Tires: Only Indian manufacturer to develop All-Steel Radial technology up to 57 inches. With full range in both Bias and Radial the global technologies, mining tire market offers a clear runway for accelerated growth
▪ Established a strong portfolio in Tracks,
Industrial and Construction tires
▪ Tracks: Expanding of dedicated manufacturing facility for Tracks; expected to commence production in H2-2026
▪ The on-going capex of 35,000 MTPA along with De-bottlenecking efforts, the OHT tire capacity will increase to 425,000 MTPA enabling us to reach 8% global market share
▪ Reaching 10% global market remains a strategic goal, to be pursued through modular, carefully phased investments.
16
OHT Strategy
Investor Presentation
~70% Revenue Contribution by FY30
Achieve ~8% global market share
17
Expand Carbon Black capacity
Investor Presentation Investor Presentation
▪ To capitalize on synergies with tire
operations and leverage energy and raw material integration, the Board of Directors has approved the expansion of Carbon Black plant
▪ Expansion to be completed by early 2026. Increased capacity to ensure Raw material availability, Energy circularity and support sustainability efforts.
▪ Capacity to increase from 200,000 MTPA to 360,000 MTPA along with a 24 MW cogeneration power plant taking our total co-gen power capacity to 64 MW at Bhuj
▪ Further strengthens market position as a high-quality reliable supplier of Carbon Black to Tire companies in Domestic and International markets
18
Expand Carbon Black capacity
Investor Presentation Investor Presentation
~10% Revenue Contribution by FY30
To become a preferred supplier for Tire & Non-Tire segment
19
To enter New Tire verticals for India
Investor Presentation
▪ Planning a modular entry into: ▪ Premium Passenger Car
Radial Tires
▪
▪ Commercial Vehicles
Radial Tires Initial focus in on Indian Replacement Market for both the categories.
▪ CV Radial tires pilot will
launch in Q4FY26 and will ramp up gradually
▪ PCR tires pilot will follow in Q3FY27 and will ramp up gradually
20
To enter New Tire verticals for India
Investor Presentation
~20% Revenue Contribution by FY30
Achieve ~5% market share
21
Competitive Advantages
Investor Presentation
SCALABLE INFRASTRUCTURE
Sufficient land and upstream equipment in place. Also possess the talent and systems required to scale the business
STRONGER BRAND EQUITY
Investments in brand building will now generate greater value across a wider revenue base
INTEGRATED CARBON BLACK PLANT
The Carbon Black plant generates power for tire facilities, reducing a major manufacturing cost and ensuring control over a key raw material
22 22
Result of Competitive Advantages
Investor Presentation
ROBUST PROFITABILITY OUTLOOK
Expect blended margins post full commercialization to be in the range of 23-25% allowing absolute EBITDA to grow significantly
On enhanced revenue backed by a superior product mix and operational strengths, do not anticipate a significant decline in ROCE as full potential is achieved.
2323
BKT At A Glance
Balkrishna Industries Ltd.: Wheels of Excellence
Investor Presentation
Established in 1987
Global Leadership in Off-Highway Tires
India’s foremost exporter in the
Off-Highway tire segment, with a
solid presence across agriculture,
construction, mining, and
industrial applications
Wide and comprehensive product portfolio A deep understanding of customer needs has led to the development of over 3600 SKUs, enabling tailored solutions across a wide range of specialised applications
Global distribution network Sales to over 160 countries through Distribution network in the Americas, Europe, India and the rest of the world
No. of facilities Tire Manf. : 4
Carbon Black Manf.: 1
Mould Manf. : 1
Drum Manf. : 1
Wind Farm: 1
Capacities Tire manufacturing capacity: Achievable output of 3,60,000 MTPA
Carbon Black: In-house achievable capacity of 2,00,000 MTPA, including 30,000 MTPA of high-value advanced carbon material
FY25 Financials Revenue: Rs. 10,413 Crs
PAT: Rs.1,628 Crs
25
BKT Through the Years
Investor Presentation
1987 - 1st Plant in Aurangabad inaugurated by our Founder Chairman, Late Mr. M P Poddarr
1995 - Started Production of Off- Highway Tires
2004 - Launch of Radial Agrimax Tires
2011 - Rebranding of BKT
2006 - Plant in Chopanki, Rajasthan
2015 - Started Greenfield Plant in Bhuj, Gujarat
2021 - Commercialized new replacement plant at Waluj (Waluj 2) with capacity of 30,000 MTPA
2022 – Commercialized brownfield tire plant at Bhuj with capacity of 50,000 MTPA
1987-1995
2004-2006
2011-2015
2021-2022
2002-2003
2008-2009
2018-2020
2002 - Plant in Bhiwadi, Rajasthan
2008 - Launch of Earthmax Tires
2003 - Production of ATV, Gardening and earthmoving Tires
2009 - Crosses Rs. 1,000 cr Turnover
2018 - Announced Capex at Waluj and Bhuj
2020 - Self Reliant on Carbon Black with the completion of Phase 2 at Bhuj in Gujarat
2023-2025
2023 – Increased capacity at Waluj to reach 55,000 MTPA
2024 – Completed capex for Advanced Carbon materials
2025 - Entering into the premium passenger car segment and commercial vehicle radial tire segment
26
Manufacturing Footprint: Tires & Carbon Black
Investor Presentation
Waluj, Maharashtra
Bhiwadi, Rajasthan
Chopanki, Rajasthan
Bhuj, Gujarat
a i d n
I
e s a B g n i r u t c a f u n a M
r u O
Tire
Carbon Black
Note – Maps not to scale. All data, information, and maps are provided “as is” without warranty or any representation of accuracy, timeliness or completeness
27
Serving Global OEMs
Investor Presentation
The Brand Names and logos mentioned are the property of their respective owners and are used here for identification purposes only
28
Board of Directors
Investor Presentation
Arvind Poddar
Rajiv Poddar
Vipul Shah
Chairman, Managing Director and member of Business Responsibility and Sustainability Committee
Joint Managing Director and member of Business Responsibility and Sustainability Committee
Director and Company Secretary
Vijaylaxmi Poddar
Non-Executive — Non- Independent Director
Pankaj Ghadiali
Shruti Shah
Laxmidas Merchant
Rahul Dutt
Non-Executive — Independent Director and Chairman of Business Responsibility and Sustainability Committee
Non-Executive – Independent Director
Non-Executive – Independent Director
Non-Executive – Independent Director
29
Recent Achievements & Milestones
BKT Receives Caterpillar “Excellence Level” Recognition for Fourth Consecutive Year
BKT received the “Excellence Level” award from Caterpillar’s Global Supplier Excellence Recognition (SER) program for outstanding performance in quality, delivery, and customer support
Investor Presentation
31
BKT Sets Up Advanced R&D Base at NATRAX
Investor Presentation
BKT inaugurated a dedicated Vehicle Dynamics & Testing (VD&T) base at the National Automotive Test Tracks (NATRAX) in Indore, Asia’s second largest and longest test track facility
32
BKT Bhuj Plant Achieves Five-Star Rating from British Safety Council
Investor Presentation
BKT Bhuj plant achieved a Five-Star grading in the British Safety Council’s Occupational Health and Safety Audit, reflecting best-in-class standards in workplace safety, health management, and risk control systems
33
BKT Partners with RFEF to Support Spanish Football
Investor Presentation
BKT has entered a four-year partnership with RFEF as the official sponsor of Spanish referees and Official Tire Partner of the Copa del Rey Final, reinforcing its commitment to sport as a platform for growth, inclusion, and social impact
34
BKT Partners with Cricket Australia to Support Australian Cricket
Investor Presentation
BKT Tires has been announced as the naming- rights partner for Cricket Australia’s men’s ODI and T20I series against India, taking place across Australia from October 19. The partnership reinforces BKT’s ongoing commitment to elite cricket and provides strong brand visibility across two key markets.
35
Well recognized International Brand
Investor Presentation
36
Strengthening BKT Brand: India
Investor Presentation Investor Presentation
Immagine che contiene persona, vestiti, uomo, aria aperta
Descrizione generata automaticamente
Click here for the BKT Video
Ranveer Singh is the Brand Ambassador of BKT
37
Strengthening BKT Brand: India
Investor Presentation Investor Presentation
Ravichandran Ashwin is the Brand Ambassador of BKT
38
Sustainability at BKT
ESG Approch
Investor Presentation
ENVIRONMENT
SOCIAL
•
•
Sustainable Strategy for Climate Resilience
Energy Management
Emission Management
• • Waste Management and Circular
Economy
• Water Stewardship
•
Biodiversity Protection
•
•
• •
•
•
•
Labour Management and Human Rights
Training, Education and Wellbeing
Diversity, Equity and Inclusion Prioritising Occupational Health and Safety
Education
Health
Rural Development
GOVERNANCE
Economic Performance
Corporate Governance
Business Ethics and Compliance
Ethical Procurement
Sustainable Supply Chain
Innovation and Digitisation
•
•
•
•
•
•
40
ESG Priorities & Progress
Investor Presentation
Strategic ESG priorities: Progress that’s measurable
Our approach to ESG is both strategic and outcomes-driven, centred on four core themes.
Climate resilience
Circularity
Inclusive growth
Integrity-led governance
Demonstrated tangible progress across these priorities:
98.17%
of total waste generated was recycled or reused
36,177
GJ of renewable energy was consumed
21.37%
YoY reduction in non- renewable grid electricity consumption
14.92%
YoY reduction in total waste
7,306 tCO2e emissions avoided through renewable energy
14.85
GJ energy intensity per tonne of production
2.03%
Reduction in water intensity
100%
of manufacturing sites ISO 9001:2015 certified
41
Advancing Healthcare, Education & Community Well-being
Investor Presentation
Healthcare Access & Technology
Nutrition & Education
Community Development
• Donated robotic surgery systems to AIMS
Thane & KEM Hospital Mumbai
• Supported Tata Memorial Hospital
for
cancer care access
• Partnered with BAVP to strengthen rural
healthcare & expand Hedgewar Hospital
• Donated ambulances to boost emergency
care in Daman & Silvassa
• With Akshaya Patra, served 23,000 mid-day
meals to children in Bhuj
• Supported Muktangan Education Trust for
inclusive learning & teacher training
• Constructing a Community Hall for Ahir to promote social and
Samaj in Bhuj educational engagement
• Extended support
to several grassroots NGOs including Child Welfare Trust (Bhuj), (Delhi), Sunshine Society (Noida) and others
Shikshalaya
Sapna
42
Empowering People, Driving Excellence
Investor Presentation
4,36,484+
hours training provided to employees and workers
0
Cases of human rights violation
A culture built on trust, inclusion, safety, and innovation — empowering our people to lead BKT’s journey forward, together with purpose and conviction.
3,040
Trainging sessions held in FY25
0
Fatalities in the last three financial years
Dignity & Fairness
Learning & Growth
Diversity & Inclusion
Health & Safety
Product Excellence & Sustainability
43
Ratings
Investor Presentation
S&P Global ESG score: 53 (+11),
Top among Indian Industry Peers
CRISIL Rating: AA/Positive to AA+/Stable
Crisil ESG Rating: 57 (+3), Adequate
44
Thank You
Company
Investor Relations Advisor
Balkrishna Industries Ltd. CIN - L99999MH1961PLC012185 Mr. M S. Bajaj - Senior President & Director (Commercial) & CFO msbajaj@bkt-tires.com investors@bkt-tires.com www.bkt-tires.com
Strategic Growth Advisors Pvt. Ltd. CIN - U74140MH2010PTC204285 Mr. Shogun Jain shogun.jain@sgapl.net
+91 77383 77756 www.sgapl.net
All images, texts and graphics contained in this document are the copyright of BKT. Permission to print hard copies of this material and to share it with interested people is granted unless otherwise provided by the Author of the document. It is forbidden to extract parts of the presentation without the express consent of the author. Balkrishna Industries Limited (BKT) cannot be held responsible for any incorrect data contained in this document. Any other form of reproduction, electronic or otherwise, as well as the application of any changes, partially or entirely, to images, texts, graphs and data is strictly prohibited without prior written permission from BKT. Balkrishna Industries Limited (BKT) reserves itself the right to alter any details contained in the document without prior notice.