Balkrishna Industries Limited issued a postal ballot notice on December 24, 2025, seeking shareholder approval for three key director appointments through remote e-voting. The company has engaged KFin Technologies Limited as the agency to provide e-voting facilities for the proposed resolutions.

E-Voting Schedule and Process

The electronic voting process has been scheduled with specific timelines for shareholder participation:

Proposed Director Appointments

The postal ballot notice covers three resolutions for director appointments, each requiring different types of shareholder approval:

Re-appointment of Chairman & Managing Director

Mr. Arvind Poddar's re-appointment as Chairman and Managing Director is proposed for a period of five years with effect from August 1, 2026. His current term expires on July 31, 2026. The proposed remuneration structure includes:

Independent Director Appointment

Mr. Natarajan Gnanaskandan Tanjore, aged 63, is proposed to be appointed as an Independent Director for five consecutive years from February 1, 2026. He is a Fellow Member of the Institute of Chartered Accountants of India (FCA) with professional practice experience since 1986. His expertise spans project finance, merchant banking, capital markets, mergers and acquisitions, and FEMA advisory across multiple industries.

Non-Executive Director Appointment

Mr. Ashok Saraf, aged 69, is proposed for appointment as a Non-Executive Non-Independent Director from February 1, 2026. He previously served as an Independent Director from August 2, 2014, to August 1, 2019. Mr. Saraf serves as Managing Director of Sarex Group of Companies and holds qualifications in Commerce, Finance Management, and Business Management.

Regulatory Compliance and Documentation

The postal ballot notice has been issued in compliance with Section 110 of the Companies Act, 2013, and Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notice is being sent only through electronic mode to members whose email addresses are registered with the company or its registrar and transfer agent.

Scrutinizer Appointment

The Board of Directors has appointed Mr. G.B.B. Babuji (FCS 1182, CP 8131), Practicing Company Secretary, as the Scrutinizer for conducting the postal ballot through e-voting process. The results will be announced on or before January 24, 2026, and will be displayed on the company's website and communicated to stock exchanges.

Carbon Black Production Update

As part of the ₹3,500.00 crores investment approved in May 2025, the company has successfully completed one line of carbon black production facility at Bhuj. The total carbon black installed capacity stands at 2,65,000 TPA, with the remaining project progressing as per schedule for early 2026 completion.

Balkrishna Industries Ltd (BKT), a leading off-highway tire manufacturer, reported its Q2 results, showcasing resilience amidst challenging market conditions. The company faced significant headwinds due to increased US import duties but maintained its focus on long-term growth strategies.

Key Financial Highlights

US Tariff Impact and Market Challenges

The company experienced a severe impact from the increase in US import duties to 50%, affecting approximately 10% of last year's sales volume. This development led to halted shipments to US markets, significantly impacting overall sales performance.

Rajiv Poddar, Joint Managing Director, stated, "We continue to navigate through a period of significant challenges. The tariff-related headwinds intensified with the U.S. increasing import duties on India to 50%."

European Market and Global Outlook

While the European market continues to face headwinds, Balkrishna Industries remains cautiously optimistic about the easing of these challenges. The company is strengthening its market positions in India and Europe while driving incremental growth from other global markets.

Strategic Initiatives and Future Outlook

Despite short-term challenges, Balkrishna Industries is maintaining its long-term vision of achieving INR 23,000.00 crores in revenue by 2030. The company is focusing on:

1. Enhancing presence in the Indian market
2. Expanding the carbon black business
3. Investing in brand building and infrastructure
4. Developing new product lines, including TBR (Truck and Bus Radial) and PCR (Passenger Car Radial) tires

Dividend and Capital Expenditure

• The Board of Directors declared a second interim dividend of INR 4.00 per equity share.
• Capex spend for H1 was approximately INR 1,737.00 crores.
• Full-year capex is expected to be INR 2,000.00-2,200.00 crores.

Notable Achievements

1. Received the Excellence level award from Caterpillar's Global Supplier Excellence recognition program for the fourth consecutive year.
2. Inaugurated a dedicated vehicle dynamics and testing base at NATRAX in Indore.
3. BKT Bhuj plant achieved a 5-star grading and a Sword of Honor Award for 2025 by the British Safety Council.

Conclusion

Despite facing significant challenges, particularly in the US market due to increased tariffs, Balkrishna Industries remains committed to its long-term growth strategy. The company's focus on diversification, product development, and strategic investments positions it well for future growth once market conditions improve.

As Balkrishna Industries navigates through these turbulent times, its resilience and strategic initiatives demonstrate a strong foundation for achieving its 2030 revenue target of INR 23,000.00 crores. The company's ability to adapt to changing market dynamics while maintaining a focus on innovation and quality will be crucial in overcoming current headwinds and capitalizing on future opportunities in the global off-highway tire market.