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Last Updated : Sep 18, 2018 01:46 PM IST | Source:

Buy Arvind; target of Rs 480: Cholamandalam Securities

Cholamandalam Securities is bullish on Arvind has recommended buy rating on the stock with a target price of Rs 480 in its research report dated August 09, 2018.

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Cholamandalam Securities' research report on Arvind

Revenue up 10.3% YoY (-7.6% QoQ) at INR 28.6bn, in line with our estimate of INR 28.4bn. Textile revenue which accounts for 54.6% of the cons. revenue grew by 2% to INR 15.6bn. Brand and Retail business which accounts for 35.5% of the cons. revenue grew 14% YoY to INR 10.16bn. Engineering grew 54.3% YoY to INR 370mn. Advance material revenue grew 10.2% YoY to INR 1.28bn.


At CMP the stock is quoting at EV/EBITDA of 11.6XFY19E and 9.4XFY20E respectively. We rate Arvind as a BUY with a target price of INR 480 per share based on FY20E estimates, indicating an upside of 21.2%.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

First Published on Aug 16, 2018 04:22 pm
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