Off-highway tyremaker Balkrishna Industries Ltd. expects a tough road ahead.
A combination of rising crude oil prices and interest rates along with the protectionist measures adopted by some countries will take a toll on its exports, the country's second-largest tyremaker said in its annual report.
The business environment globally is challenging as a few economies are showing signs of cooling off, the company's report added. Exports constitute 85 percent of its revenue while 33 percent of its topline is exposed to cyclical risks.
However, the company is looking at expanding its product range and penetrating deeper into existing markets in India and abroad to maintain growth.
Shares of the tyremaker have fallen 3.26 percent so far this year, compared to 9,38 percent drop in the S&P BSE Auto Index.
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