Buy Nitin Spinners; target of Rs 180: East India Securities

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26 Aug, 2025 12:21

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East India Securities' research report on Nitin Spinners

Nitin Spinner sales increased 48.4% YoY Rs 2.8 bn.The utilisation levels continue to remain high at 94-95% in yarns and 85% in fabrics. Sales growth would have been much higher if the business sentiments would not have been impacted due to GST.

Outlook

We believe that Nitin will be able to register a revenue, EBITDA and PAT CAGR of 16.7% ,23.3% and 17.1% over the next two years. We maintain our target P/E multiple of 10.5x and arrive at new target price of 180 based on FY19E EPS . We upgrade rating to BUY from Accumulate.

For all recommendations report, click here

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