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ICICI Direct Report
Balkrishna Industries Ltd. reported stellar Q2 FY21 results.
Standalone revenue was at Rs 1,579 crore (up 47% YoY), amid approximately 36% rise in volumes to 61,224 metric tonnes.
Margins rose 903 basis points YoY to a near five-year high of 34% amid 494 basis points gross margin expansion and savings in employee costs and other expenses.
Consequent profit after tax came in at Rs 340 crore (up 16.7% YoY).
The company declared a second interim dividend of Rs 4/share (record date - November 14).
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