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Sugar industry related stocks were trading higher amid concerns over a deficient monsoon. The sugar prices were quoting at their highest level since September 2017. Shree Renuka Sugars is currently trading at Rs. 53.69, up by 3.09 points or 6.11% from its previous closing of Rs. 50.60 on the BSE. Dalmia Bharat Sugar And Industries is currently trading at Rs. 428.20, up by 23.15 points or 5.72 % from its previous closing of Rs. 405.05 on the BSE. Dwarikesh Sugar Industries is cu...
Sugar stocks trade in sweet spot
Decent qtr; slight concern on grain-based ethanol volume Balrampur Chini’s (BRCM) 1QFY24 revenue grew by 29% YoY to INR 13.9bn driven by higher distillery and sugar volume (+43%/ +12% YoY) as well as higher realisation (+8%/ +4% YoY respectively). EBITDA increased 267% YoY (6% below JMFe) to INR 1.63bn while PBT and PAT increased 5x YoY to INR 693mn. The management reiterated its crushing volume optimism (at least 10% increase in sugarcane crushing volume in SS24) while it reduced it...
Buy Balrampur Chini Mills Ltd For Target Rs.490 - JM Financial Institutional Securities
BRCM reported robust results in 1QFY24, driven by a 22.1% YoY increase in sugar division revenues due to higher volumes and better realizations. Distillery division revenues also rose by 56.3%, although margins were impacted by transfer pricing and lower margins in the syrup route. Further, a sharp jump in alcohol inventory signals delays in offtake by OMCs. The EBP program is on track with 11.77% ethanol blending achieved, and E20 fuel has been launched at ~1400 retail outlets. Long-term deb...
Reduce Balrampur Chini For Target Rs.365 - Centrum Broking Ltd
Balrampur Chini Mills is currently trading at Rs. 390.55, up by 0.10 points or 0.03% from its previous closing of Rs. 390.45 on the BSE. The scrip opened at Rs. 390.50 and has touched a high and low of Rs. 393.40 and Rs. 386.25 respectively. So far 92714 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 430.85 on 25-Apr-2023 and a 52 week low of Rs. 306.80 on 31-Oct-2022. Last one week high and low of the scrip st...
Balrampur Chini Mills inches up as its associate company to raise funds
Balrampur Chini’s (BRCM) 4QFY23 revenue grew by 17% YoY to INR 14.9bn driven by higher volume (+50% YoY) and realisation (+7% YoY) in the distillery segment. Sugar sales volume declined 1% YoY (23% below JMFe) as the company let go a portion of its quota for March given subdued demand and realisation (sugar prices are up 5-6% since then). EBITDA increased 22% YoY (3% above JMFe) to INR 4.04bn while PBT was flat YoY (in line with JMFe). PAT declined 13% YoY to INR 2.5bn on higher tax rat...
Buy Balrampur Chini For Target Rs.470 - JM Financial Institutional Securities
Balrampur Chini (BALCHI) Ltd Buy Balrampur Chini Ltd 385.00-386.00 CMP 384.60 ; Target 390.80; Stop Loss 382.20 Aurobindo Pharma Ltd Sell Aurobindo Pharma Ltd 605.00-608.00 CMP 599.80 ; Target 597.50; Stop Loss 612.70 To Read Complete Report & Disclaimer Click Here Please refer disclaimer at https://secure.icicidirect.com/Content/StaticData/Disclaimer.html SEBI Registrati...
Stock Picks : Balrampur Chini Ltd and Aurobindo Pharma Ltd By ICICI Direct
Balrampur Chini Mills is currently trading at Rs. 395.80, up by 3.70 points or 0.94% from its previous closing of Rs. 392.10 on the BSE. The scrip opened at Rs. 392.80 and has touched a high and low of Rs. 396.60 and Rs. 392.00 respectively. So far 4707 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 525.70 on 08-Apr-2022 and a 52 week low of Rs. 299.50 on 20-Dec-2021. Last one week high and low of the scrip sto...
Balrampur Chini Mills rises on commencing commercial production of Rectified Spirit
Britannia Industries Ltd Buy Britannia Industries Ltd @ 4448-4454 CMP 4444.70 Stop Loss 4419.30 Target 4497.00 Balrampur Chini Mills Ltd Buy Balrampur Chini Mills Ltd @ 394.50-395.50 CMP 393.90 Stop Loss 390.70 Target 401.00 To Read Complete Report & Disclaimer Click Here Please refer disclaimer at https://secure.icicidirect.com/Content/StaticData/Disclaimer.html...
Stock Picks - Buy Britannia Industries Ltd And Balrampur Chini Mills Ltd Ltd By ICICI Direct
Worst is behind The 1HFY23 performance of Balrampur Chini (BRCM) was impacted by lower spread on sugar (sugar realisation - opening inventory valuation) and seasonality (as seen in Exhibit 1). In contrast, 2HFY23 (especially 4QFY23) will look very strong on account of seasonality. Moreover, FY24 will be a blockbuster year on the back of a) improved sugarcane crushing volume (yield normalisation and increase in area under sugarcane), and b) full ramp-up of distilleries (Maizapur and Balramp...
Buy Balrampur Chini For Target Rs.465 - JM Financial Institutional Securities
High sugarcane availability to bring back growth… About the stock: Balrampur Chini (BCML) is the second largest sugar company with sugar crushing capacity of 77500 TCD, distillery capacity of 560 KLD and cogeneration capacity of 175.7 MW. It will complete its distillery capex of 490 KLD and modernisation, de-bottlenecking of its sugarcane crushing capacity by December 2022, which would take its total distillery capacity to 1050 KLD (35 crore litre). * The company is working on re...
Buy Balrampur Chini Mills Ltd For Target Rs.485 - ICICI Direct
Balrampur Chini Mills is currently trading at Rs. 347.00, up by 0.50 points or 0.14% from its previous closing of Rs. 346.50 on the BSE. The scrip opened at Rs. 347.00 and has touched a high and low of Rs. 348.90 and Rs. 341.85 respectively. So far 29339 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 525.70 on 08-Apr-2022 and a 52 week low of Rs. 299.50 on 20-Dec-2021. Last one week high and low of the scrip st...
Balrampur Chini Mills rises on commencing commercial production of industrial alcohol at Maizapur Unit
Bharti Airtel Ltd Buy Bharti Airtel Ltd @726.00-728.00 CMP 732.30 Stop Loss 719.70 Target 733.70/740.50 Balrampur Chini Ltd Buy Balrampur Chini Ltd @339.00-340.00 CMP 339.40 Stop Loss 342.60 Target 336.70/334.00 To Read Complete Report & Disclaimer Click Here Please refer disclaimer at https://secure.icicidirect.com/Content/StaticData/Disclaimer.html SEBI Regi...
Stock Picks - Bharti Airtel Ltd and Balrampur Chini Ltd By ICICI Direct
Technical Observations * The share price of Balrampur Chinni is witnessing buying demand from the support area of | 340 being the 80% retracement of previous major rally of December 2021- March 2022 (| 299-525). Thus offering fresh entry opportunity with favorable risk reward set up. * Buying demand is seen emerging from the extreme oversold territory and we expect the stock to witness pullback in the coming sessions * We expect the stock to resume up move and head towards | 390...
Stock Picks - Buy Balrampur Chini Mills Ltd For Target Of Rs.390 - ICICI Direct
In a sweet spot; Reiterate BUY Balrampur Chini’s (BRCM) 4QFY22 revenue grew by 26% YoY to INR 12.8bn (16% above JMFe) led by 26% YoY/ 8% YoY growth in sugar volume/ realisation while EBITDA was flat YoY (margin declined by 670bps YoY) due to higher cane cost, lower recovery rates and unabsorbed fixed cost due to a fall in crushing volume. PAT declined 1% YoY to INR 2.4bn (3% below JMFe). While SS22 volumes were impacted due to adverse weather conditions, the management expects cane v...
Buy Balrampur Chini Mills Ltd For Target Rs.510 - JM Financial Services
Brokerage house JM Financial has recommended investors to 'buy' shares of ICICI Lombard and Balrampur Chini Mills. For general insurance company ICICI Lombard, the brokerage house has set a target price at Rs 1,600, against its current price of Rs 1,254. "ICICI Lombard showcased its Digital Initiatives and underscored how it has been progressing on the journey of digitization, encompassing various stakeholders viz., customers, channel partners and employees," the broke...
JM Financial recommends ICICI Lombard, Balrampur Chini shares
In a sweet spot We recently interacted with management of Balrampur Chini (BRCM) to take business update. The inclement weather has impacted yield/recovery rate adversely in Uttar Pradesh, leading to cane crushing volume/ production being 7-8% lower than initial estimates. BRCM’s expansion program tracking well (to commission in 3QFY23) and it continues to focus on cane development program to improve area /yield/quality of sugarcane. Government has been aggressive on Ethanol Blending...
Buy Balrampur Chini Mills Ltd For Target Rs.530 - JM Financial Services
Sugar balance in sweet spot; B-heavy aids profitability About the stock: Balrampur Chini (BCML) is the second largest sugar company with sugar crushing capacity of 76000 TCD, distillery capacity of 560 KLD & co-generation capacity of 172 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 16 crore litre i...
Buy Balrampur Chini Mills Ltd For Target Rs.600 - ICICI Direct
Religare Super Idea** To Read Complete Report & Disclaimer Click Here Please refer disclaimer at https://www.religareonline.com/disclaimer SEBI Registration number is INZ000174330 Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer
Buy Balrampur Chini Mills Ltd. For Target Rs. 475 - Religare Broking
Company Background Balrampur Chini Mills Limited (Balrampur), promoted by Mr. Vivek Saraogi, Managing Director, is one of India’s largest integrated sugar business engaged in the manufacturing of sugar, ethanol and power. It has ten sugar factories located in UP having an aggregate sugar crushing capacity of 76,500 tonnes per day, distillery capacity of 560 KL/day and saleable co-generation capacity of 165.2 MW. A slew of structural reforms undertaken by the GoI in recent years have ...
Buy Balrampur Chini Mills Ltd For Target Rs.587 - SKP Securities
Religare Super Idea To Read Complete Report & Disclaimer Click Here Please refer disclaimer at https://www.religareonline.com/disclaimer SEBI Registration number is INZ000174330 Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer
Buy Balrampur Chini Mills Ltd For Target Rs.465 - Religare Broking
Balrampur Chini Buy Balrampur Chini Mills Ltd @445.00-447.00 CMP 448.20 TGT 455.00 SL 441.40 HDFCAMC Buy HDFC Asset Management Co Ltd @2398-2402 CMP 2397.60 TGT 2352 SL 2424.20 To Read Complete Report & Disclaimer Click Here https://secure.icicidirect.com/Content/StaticData/Disclaimer.html Views express by all participants are for information & a...
Stock Picks - Balrampur Chini Mills Ltd. HDFC Asset Management Co Ltd By ICICI Direct
Company Background Balrampur Chini Mills Limited (Balrampur), promoted by Mr. Vivek Saraogi, Managing Director, is one of India’s largest integrated sugar business engaged in the manufacturing of sugar, ethanol and power. It has ten sugar factories located in UP having an aggregate sugar crushing capacity of 76,500 tonnes per day, distillery capacity of 520 KL/day and saleable co-generation capacity of 165.2 MW. A slew of structural reforms undertaken by the GoI in recent years have ...
Buy Balrampur Chini Mills Ltd For Target Rs.474 - SKP Securities
Massive capex; distillery to contribute 1/3 to revenue About the stock: 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 & 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 i...
Buy Balrampur Chini Mills Ltd For Target Rs.515 - ICICI Direct
Company Background Balrampur Chini Mills Limited (Balrampur), promoted by Mr. Vivek Saraogi, Managing Director, is one of India’s largest integrated sugar business engaged in the manufacturing of sugar, ethanol and power. It has ten sugar factories located in UP having an aggregate sugar crushing capacity of 76,500 tonnes per day, distillery capacity of 520 KL/day and saleable co-generation capacity of 165.2 MW. A slew of structural reforms undertaken by the GoI in recent years have ...
Buy Balrampur Chini Mills Ltd For Target Rs. 488 - SKP Securities
Buy Balrampur Chini Ltd For Target Rs.385 Maximising ethanol volumes to drive earnings… Balrampur Chini (BCML) reported 37.7% growth in operating profit in Q4FY21 on account of higher distillery volumes & realisation. The absence of sugar exports resulted in 41.4% revenue de-growth with similar decline in sugar segment sales. The company sold 1.9 lakh tonnes (lt) of sugar vs. 4.5 lt in corresponding quarter whereas sugar realisation was flat at | 32.1 / kg. In 2020-21 sugar s...
Buy Balrampur Chini Ltd : Maximising ethanol volumes to drive earnings - ICICI Direct
Company Background Balrampur Chini Mills Limited (Balrampur), promoted by Mr. Vivek Saraogi, Managing Director, is one of India’s largest integrated sugar business engaged in the manufacturing of sugar, ethanol and power. It has ten sugar factories located in UP having an aggregate sugar crushing capacity of 76,500 tonnes per day, distillery capacity of 520 KL/day and saleable cogeneration capacity of 165.2 MW. A slew of structural reforms undertaken by the GoI in recent years have ...
Buy Balrampur Chini Mills Ltd For Target Rs.207 - SKP Securities
Balrampur Chini Mills Ltd: BCML Posted weak set of numbers in Q3. Revenue came in at Rs.10,722mn a 10.3% contraction from the same period last year, EBITDA was down 67% Y-o-Y at Rs.364mn with margins falling by more than 500Bps to 3.4%. PAT declined by 69% Y-o-Y to Rs210mn with margins contracting by ~380Bps to 2%. Decline in revenue was primarily due to lower sales volumes, the company has sold its MAEQ entitlement and the subsequent lack of exports during the period led to volumes decli...
Buy Balrampur Chini Mills Ltd For Target Rs.183 - Choice Broking
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