Higher realization drives earnings beat

07 May 2024
5 Min read 
  • Birla Corporation's 4QFY24 results update includes higher realization driving earnings beat
  •  Volume growth at ~8-9% YoY in FY25E; EBITDA/t to grow ~8-10% YoY
  •  Consol. EBITDA increased 72% YoY to INR4.7b, while EBITDA/t grew 58% YoY to INR974
  •  Management guided a volume growth of ~8-9% YoY in FY25 and ~8-10% improvement in EBITDA/t
  •  BCORP is focusing on expanding grinding capacity, clinker expansion likely by FY27
  •  Retain earnings estimates for FY25/26, raise TP to INR1,800 due to higher CFO in FY24
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