Buy Balrampur Chini Mills, target price Rs 500: JM Financial

JM Financial has buy call on Balrampur Chini Mills with a target price of Rs 500. The current market price of Balrampur Chini Mills is Rs 396.45.

Balrampur Chini Mills Ltd., incorporated in the year 1975, is a Mid Cap company (having a market cap of Rs 8022.56 Crore) operating in Sugar sector.

Balrampur Chini Mills Ltd. key Products/Revenue Segments include Sugar, Alcohol (Industrial), Power, Bagasse, Others for the year ending 31-Mar-2023.



Financials
For the quarter ended 30-09-2023, the company reported a Consolidated Total Income of Rs 1648.97 Crore, up 17.63 % from last quarter Total Income of Rs 1401.82 Crore and up 46.60 % from last year same quarter Total Income of Rs 1124.83 Crore. Company reported net profit after tax of Rs 159.32 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 42.9 per cent stake in the company as of 30-Sep-2023, while FIIs owned 14.18 per cent, DIIs 22.13 per cent.