Buy Balmer Lawrie & Company, target price Rs 134: ICICI Direct

ICICI Direct has buy call on Balmer Lawrie & Company with a target price of Rs 134. The current market price of Balmer Lawrie & Company is Rs 127.1. Time period given by analyst is 7 days when Balmer Lawrie & Company Ltd. price can reach defined target.

Balmer Lawrie & Company Ltd., incorporated in the year 1924, is a Small Cap company (having a market cap of Rs 2179.44 Crore) operating in Diversified sector.

Balmer Lawrie & Company Ltd. key Products/Revenue Segments include Sale of services, Barrel & Drums, Lubricating Oils & Greases, Leather (Auxiliaries), Other Operating Revenue and Traded Goods for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 509.98 Crore, up 2.85 % from last quarter Total Income of Rs 495.86 Crore and up 28.20 % from last year same quarter Total Income of Rs 397.78 Crore. Company reported net profit after tax of Rs 17.58 Crore in latest quarter.

Investment Rationale
The brokerage expects the stock to maintain positive bias and head towards Rs 134 levels in the coming sessions being the 80% retracement of the last three months decline (Rs 141-112).

Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of 31-Mar-2022, while FIIs owned 1.63 per cent, DIIs 2.5 per cent.