This small cap cement company got license from American Petroleum Institute, Do you hold?
This license empowers the company to proudly feature the official API monogram on its manufactured products, specifically API Well Cement Class G at Grade(s) HSR.
Birla Corporation Ltd achieves a significant milestone with the recent granting of License Number by the American Petroleum Institute (API) to its Cement Plant at Chanderia, Birla Cement Works. This license empowers the company to proudly feature the official API monogram on its manufactured products, specifically API Well Cement Class G at Grade(s) HSR. Effective from November 17, 2023, to November 17, 2024, this license positions Birla Corporation to actively participate in upcoming tenders for the sale of API Well Cement Class G, meeting the specialized requirements of oil exploration entities.
As a prominent player in the cement manufacturing sector and a part of the esteemed M.P Birla Group, Birla Corporation has diversified interests; including the production of various cement types and a presence in the jute goods industry. The company boasts a robust distribution network comprising over 300 sales promoters, 9800 dealers, and 37500 sub-dealers, ensuring widespread availability of its products.
For the fiscal year 2023, cement constitutes a dominant 95 per cent of Birla Corporation's revenue mix, with the remaining 5 per cent contributed by jute. The company's growth commitment is evident in strategic initiatives such as establishing a new clinker capacity unit in Prayagraj and ongoing projects like Mukutban operations and Project Shikhar focused on cost reduction.
Financially, Birla Corporation demonstrates commendable performance, with a 14 per cent YoY increase in sales, reaching Rs 2,286 crore in September 2023. The EBIDT surges by an impressive 207 per cent, standing at Rs 289 crore, and the net profit experiences a remarkable 204 per cent YoY growth, reaching Rs 58.4 crore. The stock has rewarded investors with a 40 per cent return over the past six months, reflecting the company's positive trajectory.
Despite fluctuations in FII and DII holdings, Birla Corporation maintains its outlook on sustained demand from infrastructure projects, emphasizing consistent performance and increased capacity utilization in the coming quarters.
Disclaimer: The article is for informational purposes only and not investment advice.
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