Birla Corp targets 15% sales volume growth in FY23-24

India’s Birla Corp Ltd (BCL) has forecast sales volume growth of 15 per cent in FY24, on the back of infrastructure investment and ongoing government projects. The company reported 11 per cent growth in sales volumes in FY22-23 to 15.73Mt, reports BusinessLine Online.

Further expansion in FY23-24 will be driven by projects, such as the Indian government's affordable housing initiative, Pradhan Mantri Awas Yojana, which is perfectly placed for BCL, which primarily operates in the rural markets and small towns. The producer recently began operations at its 3.9Mta plant in Mukutban, which is expected to support volume growth over the current fiscal year.

According to Sandip Ghose, MD and CEO of BCL, the company does not expect prices to rise significantly during the current year but volumes are “going to move in a healthy manner unless there are any major dislocations, disruptions or hiccups going forward.”