Garden Silk Mills can touch Rs 160: SP Tulsian

One can hold Garden Silk Mills for 6-8 months time, it can touch Rs 160, says SP Tulsian, sptulsian.com.

Tulsian told CNBC-TV18, "Garden Silk is a very strong brand equity company. They have strong presence with 300 retail outlets of which 18 outlets are held by the company - those are company owned. If you see the performance in the current year, all the textile stocks have been performing very well especially the companies those who have a strong brand and this company also is holding Garden Vareli."
He further added. "If I go by the financial performance for first nine months they have already achieved the turnover what they had in the FY10 to the extent of about more than Rs 2,500 crore and the EPS has been at about Rs 15 for nine months closer to PAT being at Rs 55 crore and equity at Rs 39-40 crore."
"If you see the depreciation burden, the company always has almost an equal depreciation what they have been reporting for depreciation. So cash EPS for nine months has been at about Rs 31 while the EPS was at Rs 15. So going by the same financial performance, the company should be able to post an EPS of close to about Rs 22 for FY11 with cash EPS of Rs 44 with topline of more than Rs 3,600 crore."
"If I go by the FY12 performance, the kind of earnings, which we see with the synthetic textile makers, the man-made fiber makers, they have the advantage over the cotton textile makers, they should be able to post the topline of close to about Rs 4,300-4,400 crore and I won