Birla Corp in the green

about 5 months ago
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Birla Corporation is currently the top gainer on the BSE, going up 9% to an intraday high at Rs.700.50. Its 20% UC of the day is at Rs.772.20. There has been an over 3 times surge in volumes.

The market is enthused with its performance for Q2FY21. Its September quarter EBITDA and cash profit jumped to a record high thanks to sustained cost rationalization initiatives and a better-than-expected recovery in cement demand in key markets.

Net profit jumped up 89% (YoY) at Rs.167 crore. EBITDA was at Rs.404 crore, up 22% and cash profit grew 43% at Rs.328 crore.

Revenue for the quarter at Rs 1,675.41 crore was up 2% and sales by volume grew 2% to 3.26 million tons.

During the quarter, it managed to shore up its realization per ton by l % to Rs 4,862.

Its consolidated cost of borrowing stood at 8.15%. down 168 basis points (YoY). Interest cost came down from Rs 103 crore  to Rs.76 crore. Its debt now stands at Rs.40460 crore.

Its Rs.250-crore capacity expansion project at Kundanganj, which, in May, was put on hold due to uncertainties over cement consumption is being restarted and its factory at Mukutban in Maharashtra is expected to be commissioned in September 2021.

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