News: Balkrishna Industries (BIL) reported a mixed performance in Q4FY22. Standalone revenues for the quarter came in at Rs. 2,374 crore, up 16.9% QoQ. EBITDA in Q4FY22 was at Rs. 499.5 crore with corresponding EBITDA margins at 21%, down 80 bps. Consequent PAT for the quarter came in at Rs. 373.7 crore, up 13.7% QoQ
Views: Margin remained muted largely tracking higher other expenses, which were up 290 bps QoQ (primarily due to higher freight rates). The company announced a final dividend of Rs.4/ share taking total dividend to Rs.28/ share for FY22. However, it remains optimistic about demand outlook & guided for ~3.2-3.3 lakh MT sales volume for FY23 (10%+ on YoY basis) with long term EBITDA margin guidance retained at 28-30%
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