Buy Balrampur Chini Mills, target price Rs 397: HDFC Securities

HDFC Securities has buy call on Balrampur Chini Mills with a target price of Rs 397. The current market price of Balrampur Chini Mills is Rs 373.9. Balrampur Chini Mills Ltd., incorporated in the year 1975, is a Mid Cap company (having a market cap of Rs 7630.08 Crore) operating in Sugar sector.

Balrampur Chini Mills Ltd. key Products/Revenue Segments include Sugar, Alcohol (Industrial), Power, Bagasse, Export Incentives, Others for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 1094.59 Crore, down -15.24 % from last quarter Total Income of Rs 1291.37 Crore and down -4.46 % from last year same quarter Total Income of Rs 1145.68 Crore. Company reported net profit after tax of Rs 11.38 Crore in latest quarter.

Investment Rationale
Sustainable upmove with positive chart pattern like higher highs and lows, which signal strength

Promoter/FII Holdings
Promoters held 42.42 per cent stake in the company as of 30-Jun-2022, while FIIs owned 19.07 per cent, DIIs 16.43 per cent.