Buy Nandan Denim; target of Rs 158: Karvy

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26 Aug, 2025 12:21

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Karvy Stock Broking's report on Nandan DenimNandan Denim (NDL) has one of the largest denim fabric manufacturing capacities in the world and will be the second-largest in India with denim capacity of 110 MMPA (post expansion) after Arvind, which has a capacity of 130MMPA. The company manufactures denim, cotton fabrics and khaki cloth. It also has fully integrated facilities for manufacturing a range of products viz. woven fabrics, circular knitted fabrics, polar fleece fabrics, cotton hosiery, denim, etcValuation and Outlook:"At CMP, the stock is trading at 4.7x and 4.0x FY16E & FY17E EV/EBITDA respectively. With capacity expansion, change in product mix & plans to diversify into multiple segments, we initiate a “BUY” recommendation with a target price of Rs. 158 per share, which represents an upside potential of 31%", says Karvy Stock Broking research report.For all recommendations, click here Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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