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Buy Balrampur Chini; target of Rs 515: ICICI Direct

ICICI Direct is bullish on Balrampur Chini has recommended buy rating on the stock with a target price of Rs 515 in its research report dated May 26, 2022.

May 30, 2022 / 04:05 PM IST
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ICICI Direct's research report on Balrampur Chini

Balrampur Chini (BCML) is the second largest sugar company with sugar crushing capacity of 77500 TCD, distillery capacity of 560 KLD & co-generation capacity of 175.7 MW. It is undertaking a distillery capex of 490 KLD & 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 18 crore litre in FY22. 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 515, valuing the business at 12x FY24 PE.

For all recommendations report, click here

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first published: May 30, 2022 04:05 pm