Wage growth 2018

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The possibility of better earnings growth, supported by an uptrend in global off-highway tyres (OHT) and better margins, could sustain investors’ interest in Balkrishna Industries (BKT), a manufacturer of OHT tyres used in farming and mining.The combined impact of pricing advantage, network expansion, and new product launches could help the company benefit from recovery in the global OHT demand. That’s why BKT, buoyed by volume growth across geographies, has revised its own volume growth guidance upwards for the current fiscal. BKT is expecting a volume of 190,000-195,000 tonne for FY18, compared with the earlier guidance of 185,000-190,000, which implies a growth of 13% year-on-year from 10 per cent earlier.In the September quarter, BKT’s volume grew 16 per cent, thanks to 29 per cent and 35 per cent growth in the US and rest of world, respectively. The company is seeing good traction for highersized tyres used in mining, which is helping it improve its product mix. … [Read more...] about Rise in tyre demand, product mix to drive Balkrishna’s growth

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Balkrishna Industries, a manufacturer of offhighway tyres (OHT) used in mining and agriculture applications, is likely to improve considering a strong demand outlook in its export markets given the encouraging commentary by major companies including Caterpillar and Michelin.The US-based Caterpillar raised it earning guidance by 23% to $10.25-11.25 per share for the current year following investments by several mining customers in new projects as well as for replacement of existing tyres. Balkrishna is one of the OHT suppliers to Caterpillar.Michelin, a French tyre manufacturer, also expects speciality tyres sales volume to grow by 7-10% for 2018. Its revenue from the speciality tyres segment rose by 22% in the dollar terms in the first quarter of 2018.The global OHT market is worth $12 billion and consists of off-road tyres (OTR) and agriculture tyres. Balkrishna Industries exports nearly 90% of its output overseas. Agriculture applications contribute nearly two-thirds to its sales … [Read more...] about Upbeat US outlook improves traction for Balkrishna Inds

tyres manufacturer, Balkrishna Industries Limited (BKT) has said that its Chairman and Managing Director, Arvind Poddar has been inducted in the 2018 Tire Industry Hall of Fame instituted by the Tire Industry Association (TIA). Awarded in recognition of his significant impact made within the tyre industry, this honour was conferred to him at an award ceremony held on October 29, 2018 in USA, the company said in a statement.Arvind Poddar, Chairman & Managing Director, BKT, said, “I am delighted to have received this honour from the well-known Tire Industry Association. This accolade isn’t merely a recognition of my life-long contribution to the tire industry but also acknowledgement of the outstanding work that BKT has done over the last few decades." "In the years ahead, I will continue contributing towards supporting the global tire industry through BKT’s unmatched efforts at providing technologically and qualitatively superior products,” he added.The award … [Read more...] about BKT’s Arvind Poddar gets inducted in TIA