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Business Standard
7 days ago
- Automotive
- Business Standard
Tyre maker Balkrishna Industries' stock down 10% in firm market; here's why
Balkrishna Industries share price today Balkrishna Industries (BKT) shares slipped 10 per cent to ₹2,385 on the BSE in Monday's intraday trade, in an otherwise firm market, after the company reported lower-than-expected profit after tax (PAT) in the March 2025 quarter (Q4FY25) primarily due to forex loss. The company also plans a modular entry into premium passenger car radial tires and commercial vehicles radial tires with initial focus on the domestic replacement market in both categories. At 09:34 AM, BKT was quoting 9.7 per cent lower at ₹2,402.70, as compared to 0.78 per cent rise in the BSE Sensex. Q4 results Balkrishna Industries' reported standalone net sales for the quarter were up 2.8 per cent year-on-year (Y-o-Y), at ₹2,747 crore, amid flat tyre sales volume of 82,062 tonne. Earnings before interest, taxes, depreciation and amortisation (Ebitda) margins in Q4FY25 came in at 21.9 per cent, down 124 bps Q-o-Q. The margin contracted due to higher input costs, which are likely to have peaked in Q4. PAT for the quarter stood at ₹362 crore, down 24.7 per cent Y-o-Y, primarily due to an unrealised forex loss. Management commentary The management earmarked an ambitious five-year roadmap to scale up revenue by 2.2x to ₹23,000 crore by 2030. This would be driven by continued outperformance in its core OHT segment (70 per cent contribution estimate by 2030), where it targets to move to an 8 per cent share by 2030 from 6 per cent currently, for which capacity is being expanded to 425k MT per annum from the current 360k MT per annum; 10 per cent contribution from sales of carbon black to a third party, for which carbon black capacity is being increased to 360k mtpa from the current 200k mtpa; and a foray into Truck and Bus Radial (TBR) and premium Passenger Car Radial (PCR) segments, which is expected to contribute to 20 per cent of revenue by 2030. For this ambitious growth, BKT has earmarked ₹3,500 crore capex over the next three years, in addition to the ₹50-70 crore capex that would be invested in the core segment. Given its backward integration capabilities and market understanding, management does not expect this foray to materially dilute either margins or returns by 2030. Motilal Oswal Financial Services on Balkrishna Industries shares BKT continues to face demand headwinds in its key global markets. Hence, the brokerage firm has cut its earnings estimates by 8 per cent each for FY26/FY27. Further, its foray into the PCR/TBR segments is likely to be critically monitored from here on for whether or not it is able to gain material traction in these segments and would margins and returns be materially dilutive in the long run. "While the stock has not done well in the recent past and its valuations at 27.7x FY26E and 22.9x FY27E are not too demanding, its future target multiple is likely to be a function of its success in these new segments," MOFSL said. The success will not only be in terms of market share gains but also without materially hurting core returns – which is likely to be a herculean task, in our opinion. The brokerage retained its target multiple for BKT and continues to value it at 22x FY27E. However, this may warrant a change going forward if BKT's returns plunge due to this foray. Reiterate Neutral with a target price of ₹ 2,553. ALSO READ | ICICI Securities on Balkrishna Industries The company announced a focused capex of ₹3,500 crore over three years — entirely funded through internal accruals — is aimed at expanding capacity in its core Off-Highway Tire (OHT) segment, scaling its carbon black operations, and entering new high-potential radial tire categories in India (TBR, PCR replacement). With clear revenue targets for each growth lever, backward integration benefits, and a healthy net cash position, BKT is well-positioned to compound earnings over the medium term. However, these new segments have historically commanded less margins, RoCE profile, and valuations than BKT's base OHT business, which will have long term implications for its blended margins, RoCE's and valuations. The brokerage firm expects the stock to open negative on its diversification efforts into mass segments carbon black and TBR & PCR segments. This shall challenge the premium valuations commanded by the company in the past.
Daily Mirror
23-05-2025
- Automotive
- Daily Mirror
F1 star handed Monaco GP grid penalty before qualifying even begins
Hampering Charles Leclerc at the Monaco Grand Prix is a sure-fire way to get the locals on your back, while the Formula 1 stewards also weren't too impressed with the man who did so One Formula 1 racer was handed a grid penalty for the Monaco Grand Prix – before qualifying for the famous race even began. The punishment came as a result of an incident in Friday practice which caused a collision with Charles Leclerc. It happened in FP1, which was briefly red-flagged as a result of the debris which was scattered across the Monte Carlo street track on the run down to the Loews Hairpin where the collision took place, Leclerc running into the back of another car. But the stewards have made it clear they did not believe the collision was the Ferrari driver's fault. Instead, Lance Stroll is the one who has been punished for moving across the track without warning, leaving Leclerc powerless to stop himself from running into the back of the Aston Martin. The clash caused extensive damage to both cars. Fortunately for Leclerc, most of the problems on his Ferrari were on the front wing which was easily switched out and he went on to set the fastest time of the session overall. But it was more costly for Stroll, who did not managed to get back out on track. TV images showed mechanics having to change a lot of damaged parts on the Aston Martin as a team spokesperson confirmed the Canadian's session was over. And it got worse later on Friday when the stewards confirmed they had found Stroll to be "wholly to blame" for the collision. "The stewards... determined that Car 18 [Stroll] cut across the path of Car 16 [Leclerc] at turn six, causing Car 16 to collide into Car 18. Car 16 suffered damage as a result," they explained. "The driver of Car 18 stated that although the team warned him of the arrival of Car 16, he did not hear the radio message and that led to the incident. We considered that Car 18 was wholly to blame for the collision. Car 16 was not in a position to avoid the collision that took place. In the circumstances, we imposed a one grid position penalty for the race." To make matters worse for Stroll, he also saw one penalty point added to his FIA superlicence for his role in the crash. He now has three to his name, with drivers who rack up a dozen within a 12-month period triggering an automatic one-race ban. The one-place grid drop means whoever qualifies directly behind Stroll on Saturday will rise by one place in the starting order for Sunday's race. That could be more significant than usual as it is notoriously difficult to overtake on the tight Monaco street circuit. Though a rule change for this year could spice things up with teams obliged to pit their cars at least twice on Sunday. F1 bosses hope it will lead to more changes in the racing order and raise the potential for more mistakes and strategy errors, making more exciting a race which has struggled to produce drama in recent years.
The Irish Sun
20-05-2025
- Automotive
- The Irish Sun
Cult-classic motor discontinued in the 90s set to RETURN as 4×4 with brand teasing ‘next chapter'
A CULT-classic car which was dropped in the 1990s is now set to make a comeback as a modern-day 4x4, as the manufacturer hints at the 'next chapter'. The original Fiat Panda was seen as a go-anywhere supermini and became a hit with its loyal band of fans. Advertisement 4 The Fiat Grande Panda looks set to get a 4x4 version Credit: Supplied 4 Fiat has so far released few details about the model but it will be part of the manufacturer's Smart Car platform Credit: Supplied Now, with the Italian firm's fast-growing line-up the dinky motor is being turned into the Fiat The original Panda 4x4 first hit our streets in 1983 and thanks to its raised height and rugged styling elements it soon became a cult classic, seen as an affordable off-roader. The new Grande Panda forms the base of the revived concept and is being offered with both 111bhp electric and 108bhp 1.2-litre mild-hybrid petrol powertrains. It will be part of Stellantis's new Smart Car platform, designed to appeal to cost-conscious drivers. Advertisement Read More on Fiat Fiat hasn't yet officially confirmed its production intent but has billed the Grande Panda 4x4 as 'the next chapter' and a 'potential true symbol of versatility, reliability and freedom'. Fiat Europe boss Gaetano Thorel hasn't officially confirmed the machine would reach production, but said: "Surely we will have this car on the road in the future – but not tomorrow,' reports Mr Thorel did add that there had been demand for a 4x4 version since the Grande Panda was first unveiled and that the company wanted to meet that demand. Full details about the vehicle's powertrain haven't been revealed, Fiat has referred to it as offering an 'electrified innovative rear axle'. Advertisement Most read in Motors Fiat engineers are still working on the potential four-wheel-drive powertrain and refused to give details on whether any production 4x4 would be electric or combustion-based. Fiat insiders have hinted it would have an electric motor powering the rear axle and use the Smart Car platform, reports the motoring magazine. I test drove the discontinued Fiat 500's electric replacement - it's quick but flaw means you can only use it in a city Details of that unit's size though have yet to be confirmed. There is speculation it could be a smaller e-axle which adds supplementary power , when needed. Advertisement The car's rival, the Dacia Duster 4x4, uses a similar mild-hybrid arrangement. Fiat's Grande Panda 4x4 concept also incorporates several bespoke design cues, such as dark red paint which hints at a special edition of the Panda 4x4. It also features steel wheels, special graphics on the doors which underscore the stamped Panda lettering and hint at traditional off-roader body cladding. There's also a protective underbody skidplate and a roof rack. Advertisement Fiat has also hinted that any production model would 'most likely feature other accessories'. The intention is to eventually position the Grande Panda as a global car and to manufacture it in factories on three continents. In order to meet those global requirements, it can utilise a number of powertrains including a manual pure ICE, a hybrid, full electric and even LPG. The manual ICE is set to launch in Europe later this year but it is not expected to be available in the UK at first due to the extra costs of right-hand drive conversion. Advertisement 4 The Grande Panda 4x4 is being billed as 'the next chapter' Credit: Supplied 4 Fiat's Grande Panda 4x4 concept also incorporates several bespoke design cues, such as dark red paint which hints at a special edition of the Panda 4x4
Al Etihad
19-05-2025
- Automotive
- Al Etihad
Abu Dhabi: Part of Advanced Technology Research Council, Aspire to host 2nd Autonomous Racing League
19 May 2025 19:47 ABU DHABI (ALETIHAD)ASPIRE, the driving force behind grand challenges and global competitions for Abu Dhabi's Advanced Technology Research Council (ATRC), has announced the return of its flagship event, the Abu Dhabi Autonomous Racing League (A2RL). The 2025 edition of Car will take place on November 15 at Yas Marina Circuit with a $2.25 million prize pool and the launch of a pioneering global virtual racing its debut in April 2024, which drew over 10,000 spectators and more than 1 million global streaming views, A2RL Season 2 is back with even greater ambition, expanded international participation, and a bold new platform to advance autonomous year's league welcomes elite research teams from 10 countries, with the global roster expanding to include France and Japan for the first time, joining a strong line-up of returning teams from the USA, Germany, China, Singapore, Italy, and the UAE. As the world's most advanced competition for autonomous systems, A2RL continues to bridge the gap between simulation and real-world application.H.E. Faisal Al Bannai, Advisor to the UAE President for Strategic Research and Advanced Technology Affairs and Secretary General of ATRC, said: 'With A2RL, we're not just testing autonomous technology, we're accelerating its evolution in the most demanding conditions possible. It's a showcase of engineering excellence, but more importantly, a platform for the future of mobility. From high-speed racing to real-world applications, we are demonstrating what's possible when nations invest in deep tech innovation and challenge the world to think faster, build smarter, and compete responsibly.'Stephane Timpano, CEO of ASPIRE, added: 'By combining the physical thrill of racing with the precision of virtual testing, we're enabling the world's best minds to push the boundaries of AI. This year's expanded league reflects Abu Dhabi's commitment to challenge-driven innovation, where real-world impact is engineered at speed and scale.'The announcement was made during the Make it in the Emirates Forum in Abu Dhabi. The Emirates Autonomous Vehicle (EAV 24), A2RL's upgraded autonomous racecar, represents a significant leap in performance and engineering. Assembled and autonomised in the UAE, the vehicle reflects the nation's growing capabilities in AI, robotics, and high-performance mobility. Built on the proven Super Formula SF23 platform, the EAV-24 has been re-engineered to incorporate enhanced sensor arrays, upgraded computer systems, and refined control logic, optimised for the demanding conditions of autonomous unveiled in the inaugural race, the SF23 is built from sustainable bio-composite materials, weighs 690kg, and is the fastest open-wheel race car in the world after Formula One, reaching speeds of up to 300 kmph. Equipped with advanced braking systems, drive-by-wire throttle control, and a custom-built autonomous stack, the SF23 gives each team a state-of-the-art platform to adapt and optimise their AI driving algorithms in the pursuit of peak performance.A key innovation this season is the launch of A2RL SIM-Sprint. A series of virtual races designed to fast-track algorithm refinement and test AI systems in diverse conditions, the SIM Sprint extends A2RL into a year-round development ecosystem. By offering a consistent and controlled environment for experimentation, the SIM Sprint allows teams to accelerate the development of their autonomous driving algorithms beyond what is possible through real-world testing alone. It is especially valuable for tackling 'edge cases', rare or extreme scenarios that are difficult to replicate on track but are critical for building resilient time, A2RL aims to open the SIM Sprint to a wider community of participants, including fans, independent developers, and aspiring teams worldwide. A structured progression system - from Sim Academy to Sim Pro, and eventually to real-world A2RL qualification - will provide new pathways for talent to enter the league and contribute to the future of high-performance autonomy. Through ASPIRE and under the broader umbrella of ATRC, A2RL continues to position Abu Dhabi as a global leader in high-performance autonomy, transforming the way intelligent systems are developed, tested, and deployed.
Newsweek
19-05-2025
- Automotive
- Newsweek
Albon Speaks Out After Controversial Clash With Leclerc - 'P4 Was Possible'
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Alex Albon has addressed the incident with Charles Leclerc in the final stages of the Emilia Romagna Grand Prix. After pitting under the safety car conditions, the Williams driver put pressure on Leclerc, who was on old tires, in an intense battle for fourth-place. However, in a close encounter with the Ferrari driver, Albon ran wide and ended up losing a position to seven-time champion Lewis Hamilton. As the incident was noted by the Stewards, Hamilton overtook Leclerc and Ferrari instructed the Monegasque driver to let Albon pass in order to avoid a penalty. Reflecting on the moment after the race, Albon explained in a press release from the team: Alexander Albon of Thailand and Williams walks in the paddock during practice ahead of the F1 Grand Prix of Emilia-Romagna at Autodromo Internazionale Enzo e Dino Ferrari on May 16, 2025 in Imola, Italy. Alexander Albon of Thailand and Williams walks in the paddock during practice ahead of the F1 Grand Prix of Emilia-Romagna at Autodromo Internazionale Enzo e Dino Ferrari on May 16, 2025 in Imola, Italy."I'm very happy. P4 was possible today if the Safety Car didn't come out at the end or if you take away the Charles incident, but I'm not going to say I'm disappointed with P5! "When I look at the battle with Charles, I would probably have done the same; it wasn't that crazy, he was just trying to hold his position, but then I lost out to Lewis. Maybe I could have been a bit more patient with my overtake of Charles, but at that point in the race I was feeling so good that I was thinking: 'Oscar is up ahead on worn tires, maybe I could go after him!' "I'm still very happy with the race; on pure pace we were running P4, P5, so we were able to extend the first stint and that set us up for the whole race. The consistent pace we're showing opens up the window for what else we can do, so let's keep going and enjoying it." Leclerc also commented on the incident with Albon and another previous incident with Gasly. He explained to the media: "I was saying before, it's one of the races where you've got to race with the heart and put the elbows out a little bit. "When it's like this you go very much on the limit, sometimes a little bit over. But when you are starting P11, as a driver I cannot accept the situation we are in. "I took risks. I don't think with Pierre I was at fault or over the limit. It was a racing indecent. With Alex it was very much on the limit for sure." 2025 Emilia Romagna Grand Prix: Race results 1. Max Verstappen, Red Bull 2. Lando Norris, McLaren 3. Oscar Piastri, McLaren 4. Lewis Hamilton, Ferrari 5. Alex Albon, Williams 6. Charles Leclerc, Ferrari 7. George Russell, Mercedes 8. Carlos Sainz, Williams 9. Isack Hadjar, Racing Bulls 10. Yuki Tsunoda, Red Bull 11. Fernando Alonso, Aston Martin 12. Nico Hulkenberg, Sauber 13. Pierre Gasly, Alpine 14. Liam Lawson, Racing Bulls 15. Lance Stroll, Aston Martin 16. Franco Colapinto, Alpine 17. Oliver Bearman, Haas 18. Gabriel Bortoleto, Sauber 19. Andrea Kimi Antonelli, Mercedes - DNF 20. Esteban Ocon, Haas - DNF
