Buy Balrampur Chini Mills, target price Rs 370: Edelweiss

Edelweiss has buy call on Balrampur Chini Mills Ltd. with a target price of Rs 370. The current market price of Balrampur Chini Mills is Rs 343.1.

Time period given by analyst is Intra Day when Balrampur Chini Mills Ltd. price can reach defined target.

Balrampur Chini Mills Ltd., incorporated in the year 1975, is a Mid Cap company (having a market cap of Rs 6998.57 Crore) operating in Sugar sector.


Balrampur Chini Mills Ltd. key Products/Revenue Segments include Sugar, Alcohol (Industrial), Export Incentives, Power, Bagasse, Others, Other Operating Revenue for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 1218.23 Crore, up 6.33 % from last quarter Total Income of Rs 1145.68 Crore and down -5.88 % from last year same quarter Total Income of Rs 1294.37 Crore. Company reported net profit after tax of Rs 81.11 Crore in latest quarter.

Investment Rationale
Broke out from its consolidation which was active since October 2021 with above average volumes

Promoter/FII Holdings
Promoters held 41.4 per cent stake in the company as of 29-Oct-2021, while FIIs owned 22.13 per cent, DIIs 13.95 per cent.