External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

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Equity Bottom-Up

<ul><li>Birla Corporation Limited (BCL), the flagship company of the M.P. Birla Group, primarily operates in cement manufacturing, which constitutes its core business activity.</li><li>The company's cement division encompasses 11 plants located at 8 different locations.</li><li>Currently, BCL boasts a total cement manufacturing capacity of 20 million tonnes per annum (mtpa), positioning itself as one of the leading players in the Central India region with an estimated market share of 12%. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Birla Corporation Limited (BCL), the flagship company of the M.P. Birla Group, primarily operates in cement manufacturing, which constitutes its core business activity.The company's cement division encompasses 11 plants located at 8 different locations.Currently, BCL boasts a total cement manufacturing capacity of 20 million tonnes per annum (mtpa), positioning itself as one of the leading players in the Central India region with an estimated market share of 12%. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pick of the Week: Birla Corporation Ltd - 08 APRIL 2024

<ul><li>BCL reported a stellar set of numbers with Volume/Revenue/EBITDA growth of 13%/15%/126% YoY (above expectations), driven by better demand, higher realization and lower operating cost EBITDA increased 126% YoY at Rs 379 Cr ( above expectations) and the company reported an APAT of Rs 109 Cr against the loss of Rs 50 Cr last year.</li><li>It is noteworthy that the company’s cost/tonne declined by 9%/4% YoY/QoQ at Rs 4,604.</li><li>BCL’s EBITDA/tonne was Rs 901, up 132%/30% YoY/QoQ, and this trend is expected to continue in Q4FY24.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

BCL reported a stellar set of numbers with Volume/Revenue/EBITDA growth of 13%/15%/126% YoY (above expectations), driven by better demand, higher realization and lower operating cost EBITDA increased 126% YoY at Rs 379 Cr ( above expectations) and the company reported an APAT of Rs 109 Cr against the loss of Rs 50 Cr last year.It is noteworthy that the company’s cost/tonne declined by 9%/4% YoY/QoQ at Rs 4,604.BCL’s EBITDA/tonne was Rs 901, up 132%/30% YoY/QoQ, and this trend is expected to continue in Q4FY24.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Birla Corporation Limited - Robust Volume Growth; Margin Profile to Trend Higher

<ul><li>BCL reported Revenue/Volume growth of 14%/15% YoY (above expectations), driven by better demand.</li><li>EBITDA increased 207% YoY (below expectations) and the company reported an APAT of Rs 59 Cr against the loss of Rs 56 Cr last year.</li><li>However, it was below our expectations owing to flat realization. It is noteworthy that the company’s cost/tonne declined by 9% YoY but stood flat QoQ at Rs 4,777. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

BCL reported Revenue/Volume growth of 14%/15% YoY (above expectations), driven by better demand.EBITDA increased 207% YoY (below expectations) and the company reported an APAT of Rs 59 Cr against the loss of Rs 56 Cr last year.However, it was below our expectations owing to flat realization. It is noteworthy that the company’s cost/tonne declined by 9% YoY but stood flat QoQ at Rs 4,777. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Birla Corporation Limited - Robust Volume Growth; Margin Profile To Improve

<ul><li>Birla Corporation Ltd (Birla) reported a total consolidated revenue of Rs 8,682 Cr in FY23, registering an excellent growth of 16% YoY.</li><li>The robust revenue growth was driven by above-average demand which resulted in the company’s capacity utilization reaching 81% during the year.</li><li>In addition, the company recorded its highest-ever volume of 15.7 MTPA during the year, supported by a ramp-up in its new capacities. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Birla Corporation Ltd (Birla) reported a total consolidated revenue of Rs 8,682 Cr in FY23, registering an excellent growth of 16% YoY.The robust revenue growth was driven by above-average demand which resulted in the company’s capacity utilization reaching 81% during the year.In addition, the company recorded its highest-ever volume of 15.7 MTPA during the year, supported by a ramp-up in its new capacities. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Birla Corporation Ltd -- Performance Set To Improve; Maintain BUY

<ul><li>Birla Corporation Limited (BCL) – the flagship company of the M.P. Birla Group is involved in a core business activity of cement manufacturing.</li><li>Its cement division has 11 plants at eight locations. Currently, the company’s total cement manufacturing capacity stands at 20 million tonnes per annum (mtpa) and it is one of the dominant players in the Central India region with estimated 12% market share.</li><li>The company has also established a significant presence in the Jute Goods industry.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Birla Corporation Limited (BCL) – the flagship company of the M.P. Birla Group is involved in a core business activity of cement manufacturing.Its cement division has 11 plants at eight locations. Currently, the company’s total cement manufacturing capacity stands at 20 million tonnes per annum (mtpa) and it is one of the dominant players in the Central India region with estimated 12% market share.The company has also established a significant presence in the Jute Goods industry.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pick of the Week - Birla Corporation Ltd - 28 AUGUST 2023

India

Birla Corporation Limited is a manufacturing company that produces and sells cement, automobile trim parts, jute goods, synthetic and cotton yarns, and PVC floor coverings and coated fabrics. The Group also manufactures calcium carbide, ferromanganese, silico manganese, oxygen and iron and steel castings.

Birla Corp Ltd (BCORP IN)

Pick of the Week: Birla Corporation Ltd - 08 APRIL 2024

Birla Corporation Limited (BCL), the flagship company of the M.P. Birla Group, primarily operates in cement manufacturing, which constitutes its...

Axis Direct

Birla Corporation Limited - Robust Volume Growth; Margin Profile to Trend Higher

It is noteworthy that the company’s cost/tonne declined by 9%/4% YoY/QoQ at Rs 4,604. BCL’s EBITDA/tonne was Rs 901, up 132%/30% YoY/QoQ, and this...

Axis Direct

Birla Corporation Limited - Robust Volume Growth; Margin Profile To Improve

EBITDA increased 207% YoY (below expectations) and the company reported an APAT of Rs 59 Cr against the loss of Rs 56 Cr last year.

Axis Direct

Birla Corporation Ltd -- Performance Set To Improve; Maintain BUY

Birla Corporation Ltd (Birla) reported a total consolidated revenue of Rs 8,682 Cr in FY23, registering an excellent growth of 16% YoY.

Axis Direct

Pick of the Week - Birla Corporation Ltd - 28 AUGUST 2023

Birla Corporation Limited (BCL) – the flagship company of the M.P. Birla Group is involved in a core business activity of cement manufacturing.

Axis Direct