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Motilal Oswal Report
Birla Corporation Ltd.’s reported performance was in line with our estimates. We expect a gradual recovery in profitability due to near-term challenges.
We estimate a compound annual growth rate of 2%/5%/14% in consolidated revenue/Ebitda/profit after tax over FY24-27.
Birla Corp trades inexpensively at seven times/six times FY26E/FY27E enterprise value/Ebitda, a lower valuation than its similar-sized peers.
We reiterate our Buy rating with a revised target price of Rs 1,500 (earlier Rs 1,650), based on nine times Sep’26E EV/Ebitda.
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