Buy Birla Corporation, target price Rs 1900: Emkay Global

Emkay Global has buy call on Birla Corporation with a target price of Rs 1900. The current market price of Birla Corporation Ltd. is Rs 1582.

Birla Corporation Ltd., incorporated in the year 1919, is a Mid Cap company (having a market cap of Rs 12173.78 Crore) operating in Cement sector.

Birla Corporation Ltd. 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 31-03-2024, the company reported a Consolidated Total Income of Rs 2682.12 Crore, up 15.20 % from last quarter Total Income of Rs 2328.31 Crore and up 6.79 % from last year same quarter Total Income of Rs 2511.68 Crore. Company reported net profit after tax of Rs 193.34 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 62.9 per cent stake in the company as of 31-Mar-2024, while FIIs owned 6.79 per cent, DIIs 15.57 per cent.