Buy Balrampur Chini; target of Rs 500: ICICI Direct
ICICI Direct is bullish on Balrampur Chini has recommended buy rating on the stock with a target price of Rs 500 in its research report dated November 09, 2021.
November 10, 2021 / 02:47 PM IST
ICICI Direct's research report on Balrampur Chini
Balrampur Chini (BCML) is the second largest sugar company with sugar crushing capacity of 76000 TCD, distillery capacity of 520 KLD & co-generation capacity of 91 MW. It is undertaking a distillery capex of 530 KLD and modernisation, de-bottlenecking of its sugarcane crushing capacity at multiple plants. The company would be able to increase distillery volumes to 35 crore litre in FY24 from 16 crore litre in FY21. Moreover, the modernisation plan would result in higher sugarcane crushing, better recoveries
We continue to maintain our BUY rating on the stock We value the stock at Rs 500, valuing the business at 15x FY23 PE
For all recommendations report, click here
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