Firstcall India Equity Advisors has recommended hold rating on Arvind with target of Rs 37 in its June 09, 2010 research report.
"At the current market price of Rs 30.75, Arvind trades at a P/E of 7.98x and 6.26x for FY11E and FY12E respectively. On the basis of EV/EBDITA, the stock trades at 2.35x and 2.33x for FY11E and FY12E respectively. Price to Book Value of the stock is expected to be at 0.50 and 0.46 respectively for FY11E and FY12E. EPS of the company is expected to be at Rs.3.86 and Rs.4.91 for the earnings of FY11E and FY12E respectively. The Net sales of the company are expected to grow at a CAGR of 4% over 2009 to 2012E. Shirting volume saw a 44% growth due to successful execution of company's twin strategy of rapid expansion of retail distribution and product differentiation. We recommend hold in this particular scrip with a target price of Rs 37," says Firstcall research report.
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