EIS's research report on Nitin Spinners
The company’s utilization level continued to remain at 100% while realization has witnessed a marginal drop on YoY basis. Hence, net sales for the quarter de-grew by 1.4% to Rs 1,937mn, slightly better than our estimates. On sequential basis also utilization levels sustained at full capacity, but yarn realizations witnessed a marginal rise translating to a net sales growth of 1.8%.
We have maintained our target price of Rs 155 per share, 10.5xFY18E EPS. The stock of the company offers 112% gain from current levels. Thus, we maintain our Buy rating.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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