Balkrishna Industries Ltd. benchmarking: Performance to industry peers

Financial

	Balkrishna Inds.	Apollo Tyres	MRF
Operational Metrics
Auto Ancillary
Quarterly Sales Volume - Tyres Sold	0.86 Lakh MT	n/a	n/a
Manufacturing Capacity - Tyres	285000.0 MTPA	n/a	n/a
Chemicals
Manufacturing Capacity - Carbon black	115000.0 MTPA	n/a	n/a
Unclassified
R&D as a % of Total Sales	0.57 %	1.0 %	0.11 %
Financials
5 yr Average ROE	15.72 %	8.39 %	8.42 %
5yr average Equity Multiplier	1.58	2.04	1.64
5yr Average Asset Turnover Ratio	0.7	0.9	0.88
5yr Avg Net Profit Margin	14.23 %	4.64 %	5.92 %
Price to Book	3.83	1.67	2.69
P/E	33.71	20.32	23.24
5yr Avg Cash Conversion Cycle	51.75 Days	36.36 Days	56.61 Days
Inventory Days	58.57 Days	64.92 Days	63.9 Days
Days Receivable	49.5 Days	40.08 Days	39.94 Days
Days Payable	57.62 Days	80.52 Days	58.51 Days
5yr Average Interest Coverage Ratio	58.62	4.13	6.47
5yr Avg ROCE	19.4 %	11.43 %	11.8 %
5yr Avg Operating Profit Margin	22.08 %	14.4 %	14.16 %
5 yr average Debt to Equity	0.37	0.33	0.16
5yr CAGR Net Profit	-2.84 %	16.53 %	7.92 %
5yr Average Return on Assets	9.99 %	4.25 %	5.16 %
Shareholdings
Promoter Holding	58.29 %	36.93 %	27.77 %
Share Pledged by Promoters	0.0	0.01 %	0.09 %
Change in Promoter Holding (3 Yrs)	0.0	-0.41 %	-0.07 %
Change in Mutual Fund Holding (3 Yrs)	6.45 %	2.82 %	0.91 %

	Balkrishna Inds.	Apollo Tyres	MRF
Segment Break-Up	Segment Break-Up Tyres 100.0	-	-
Location Wise Break-Up	Location Wise Break-Up Europe 40.0 India 36.3 North America 13.2 APMEA 0 Others 10.5	Location Wise Break-Up India 0 North America 0 Asia Pacific 68.97 Europe 28.12 Others 2.91	Location Wise Break-Up India 91.69 North America 0 APMEA 0 Europe 0 Others 8.31
OEM vs Aftermarket	OEM vs Aftermarket After market 70.1 OEM 28.7 Replacement 0 Others 1.2	OEM vs Aftermarket Replacement 0 After market 0 OEM 21.0 Others 79.0	OEM vs Aftermarket Aftermarket 73.0 After market 0 OEM 0 Others 27.0
Customer Segment	Customer Segment Agricultural 58.8 OTR 37.5 ATV and lawn and garden 0 Light Truck 0 Off Highway 0 Truck-Bus 0 Passenger Vehicles 0 Others 3.7	Customer Segment OTR 0 Agricultural 0 ATV and lawn and garden 0 Truck and Bus 40.0 4 Wheeler 38.0 Off Highway 10.0 Light Commercial Vehicles 7.0 Others 5.0	-
Asset Break-Up	Asset Break-Up India 99.66 Outside India 0.34 Europe 0 APMEA 0 India 0	Asset Break-Up India 0 APMEA 61.43 Outside India 0 Europe 34.85 Others 3.72	Asset Break-Up India 99.91 APMEA 0 Outside India 0 Europe 0 Others 0.09