Microsec's research report on Himatsingka Seide
"Himatsingka Seide is a vertically integrated Home Textile major ranging from manufacturing, retailing and distribution of Home textile products. Their manufacturing unit is concerned with the manufacturing of upholstery and drapery, bed linen, silk and blended yarn while the retail business has a strong global presence in North America, Europe and Asia. The Group's manufacturing operations epitomize cutting edge technology, best-in-class manufacturing processes and embrace the highest standards of quality control."
"The company is trading at a P/E multiple of 7.8x of FY15E EPS of INR6.78 which is lower than of its 5-year average of 9.6x . Considering the global economic recovery, improved realizations and initiatives to penetrate the untapped areas, we assign a higher multiple of 8.7x to FY15e EPS to arrive a price objective of INR65.00 with an upside potential of ~20 percent and hence we recommend a BUY for the stock," says Microsec research report.
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