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Buy Jindal Worldwide; target of Rs 195: Firstcall Research

Firstcall Research is bullish on Jindal Worldwide and has recommended buy rating on the stock with a target price of Rs 195 in its research report dated September 19, 2015.

September 21, 2015 / 02:06 PM IST
 
 
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Firstcall Research's research report on Jindal Worldwide

Jindal Worldwide Limited incorporated under the Indian Companies Act 1956 and went public in 1995. The company is the leader in Indian Textile Industries and is operating in Indian contingent as well as having its international collaboration and clients in north and South America to Europe, Africa and Middle-East Asia. Jindal Worldwide is having a large consumer base in India within the Home Textile Domain and strong and reputed clients like Wal-Mart, springs, Disney, WestPoint Stevens. Started as a small venture during late 70’s Jindal grow to become a worldwide leader in textile market by providing innovative and quality products each year and now is the part of Jindal Group of Companies. Jindal group of Industries is a Public Multinational Company and headquartered in Ahmedabad, Gujarat, India has spread into various activities such as Textiles, Chemicals, Financial Services and trading.

Jindal Worldwide Ltd is the leader in Indian Textile Industries and is operating in Indian contingent as well as having its international collaboration and clients in north and South America to Europe, Africa and Middle-East Asia. The Company’s net profit stood at Rs. 85.57 mn,an increase of 28.76% in Q1 FY16 against Rs.66.46 mn in the corresponding quarter of the previous year.The company has achieved a turnover of Rs. 2472.78 mn, an increase of 13.89% year –on – year for the 1st quarter of the FY2015-16 as against Rs. 2171.12 mn in the corresponding quarter of the previous year.

We expect that the company surplus scenario is likely to continue for the next three years, will keep its growth story in the coming quarters also. We recommend ‘BUY’ in this particular scrip with a target price of Rs.195.00 for Medium to Long term investment.

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first published: Sep 21, 2015 02:06 pm

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