Buy Birla Corporation, target price Rs 1185: Emkay Global Financial Services

Emkay Global Financial Services has buy call on Birla Corporation with a target price of Rs 1185. The current market price of Birla Corporation is Rs 985.45.

Birla Corporation, incorporated in the year 1919, is a Mid Cap company (having a market cap of Rs 7570.40 Crore) operating in Cement sector.

Birla Corporation key Products/Revenue Segments include Cement, Jute Goods, Royalty Income, Other Operating Revenue, Export Incentives and Others for the year ending 31-Mar-2022.

Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 2041.58 Crore, down -7.96 % from last quarter Total Income of Rs 2218.06 Crore and up 19.31 % from last year same quarter Total Income of Rs 1711.10 Crore. Company has reported net profit after tax of Rs -56.46 Crore in latest quarter.

The company’s top management includes Mr.Harsh V Lodha, Mr.Arvind Pathak, Mr.Vikram Swarup, Mr.Anand Bordia, Mr.Dhruba Narayan Ghosh, Dr.Deepak Nayyar, Mrs.Shailaja Chandra, Mr.Dilip Ganesh Karnik. Company has V Sankar Aiyar & Co. as its auditors. As on 30-09-2022, the company has a total of 8 Crore shares outstanding.

Promoter/FII Holdings
Promoters held 62.9 per cent stake in the company as of 30-Sep-2022, while FIIs owned 4.34 per cent, DIIs 15.68 per cent.