Agri tyre exports to sustain sales growth for Balkrishna Industries

However the upsides are capped given stock gains and margin pressures

Strong growth in agricultural tyre exports in October and expected recovery in off-the-road (OTR) tyres could help Balkrishna Industries sustain its sales growth trajectory. Export performance and robust September quarter numbers have helped the stock gain over 23 per cent over the past month.

The company is the main beneficiary of strong demand for agricultural tyres and its exports of the segment grew by 38 per cent in October after growing a 67 per cent year-on-year (YoY) in September. The segment accounted for 64 per cent of its revenues in the first half of FY21. The European Union is its