Motilal Oswal has given Buy recommendation for Aditya Birla Capital recommended buy rating on the stock with a target price of Rs 140 in its researc with a target price of Rs. 140 in its research report issued on May 14, 2022

Motilal Oswal’s research report on Aditya Birla Capital

Consolidated revenue grew 16% YoY to INR23.6b in FY22. Consolidated PAT (after minority interest) grew 51% YoY to ~INR17.1b in FY22 and includes a net gain of INR1.6b from the sale of ~1% stake in ABSLAMC via an IPO in Oct’21. The management has been steadfast and has exhibited high agility in its journey towards its FY24 targets, a large proportion of which has either been achieved or will be over the course of FY23.

Outlook

We maintain our Buy rating, with a SoTP (Mar’24E) based TP of INR140 per share, implying a potential upside of 40%.

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