Buy Grasim Industries, target price Rs 2020: Religare Broking

Religare Broking has buy call on Grasim Industries with a target price of Rs 2020. The current market price of Grasim Industries is Rs 1817.5. Religare Broking recommended to keep stop loss at Rs 1700.

Grasim Industries, incorporated in the year 1947, is a Large Cap company (having a market cap of Rs 119500.37 Crore) operating in Diversified sector.

Grasim Industries key Products/Revenue Segments include Sale of Products, Scrap, Export Incentives, Other Operating Revenue, Power, Sale of services for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 27737.58 Crore, down -1.67 % from last quarter Total Income of Rs 28209.61 Crore and up 21.56 % from last year same quarter Total Income of Rs 22817.58 Crore. Company has reported net profit after tax of Rs 1419.20 Crore in latest quarter.

The company’s top management includes Mr.Kumar Mangalam Birla, Mr.N Mohanraj, Mrs.V Chandrasekaran, Mr.N Mohan Raj, Mr.Anita Ramachandran, Dr.Thomas Connelly Jr, Mr.Cyril Shroff, Mr.Raj Kumar, Dr.Santrupt Misra, Mr.Shailendra K Jain, Mrs.Rajashree Birla, Mr.H K Agarwal, Mr.Adesh Kumar Gupta. Company has B S R & Co. LLP as its auditors. As on 30-06-2022, the company has a total of 66 Crore shares outstanding.

Investment Rationale
Cement pack has been performing well. Recent pause in Grasim is offering fresh buying opportunity.

Promoter/FII Holdings
Promoters held 42.76 per cent stake in the company as of 30-Jun-2022, while FIIs owned 11.49 per cent, DIIs 15.36 per cent.