Profit before tax dropped 28.7% to Rs 348.35 crore in Q4 FY23 as against Rs 488.40 crore posted in corresponding quarter last year.

EBITDA slipped 14% to Rs 494 crore in Q4 FY23 as compared with Rs 576 crore in Q4 FY22 while EBITDA margin reduced to 21.3% in Q4 FY23 as against 23.7% in Q4 FY22.

The company's standalone net profit declined 23.5% to Rs 1,078.71 crore in FY23 as compared with Rs 1,410.69 crore in FY22. Net sales increased 18.7% year on year to Rs 9,810.52 crore in FY23 over FY22.

Meanwhile, the board declared final dividend of Rs 4 per equity share for the financial year 2022-23, subject to approval of the shareholders.

Balkrishna Industries is engaged in the business of manufacturing and selling of “Off-Highway Tyres” (OHT) in the specialist segments such as agricultural, industrial & construction, earthmovers & port, mining, forestry, lawn & garden and all terrain vehicles (ATV).