January 10, 2017 / 17:46 IST
Nandan Denim is a part of Gujarat based, a leading conglomerate Chiripal Group. Company commenced its operations in 1994 with textile trading business & later forayed into textile manufacturing in 2004. Company currently engaged in manufacturing of denims, cotton fabrics & khakis. Company has one of the largest denim fabric manufacturing capacities in the world. Company exports its denim fabric to over 27 countries across the globe through its strong global dealer- distribution network. Company’s export constitute 12.7% to overall revenue.
Outlook
At CMP of Rs 117, NDL trades at 6.4x its FY18E EPS of Rs 18.4/- We believe, marquee client list, final expansion stage along with untapped opportunity in domestic market puts NDL on a high growth phase going ahead. Hence, we recommend BUY rating on a stock price with a target price of Rs 140/-, thus implying 20% upside from current level.
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