Buy Birla Corporation Ltd For Target Rs.1,480 By Choice Broking Ltd
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* Outlook: Cement demand in Q2FY25 is expected to be impacted by the monsoon. The company will continue to improve operations at the Mukutban facility, with a focus on the Maharashtra market to leverage tax incentives. The strategy is to increase market share for premium products in Maharashtra, Gujarat, and Rajasthan, where there is significant growth potential. Additionally, management anticipates growth in line with the industry's overall expansion. We expect Revenue/EBITDA to grow at a CAGR of 7.2%/11.5% respectively over FY24-FY26E. Our target EV/EBITDA multiple is 8.5x on FY26E EBITDA, hence we ascribe a target price of INR1,480, maintaining our rating to BUY.
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SEBI Registration no.: INZ 000160131
