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Motilal Oswal Report
The Calcutta High Court, in an order on Friday September 18, 2020, restrained Mr. Harsh Vardhan Lodha from holding any position in Madhav Prasad Birla Group companies with immediate effect.
Thus, he is hereafter disallowed from being Chairman of Birla Corporation Ltd.
While this order would be appealed against, it creates uncertainty regarding the continuity of HV Lodha.
However, we do not expect this development to impact the company’s near-term operations or ongoing expansion plans.
Birla Corp’s longer term outlook remains positive as upcoming capacities in H1 FY22 should drive market share gains.
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