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Buy Siyaram Silk Mills; target of Rs 610: ICICI Direct

ICICI Direct is bullish on Siyaram Silk Mills has recommended buy rating on the stock with a target price of Rs 610 in its research report dated August 10, 2022.

August 11, 2022 / 05:30 PM IST
 
 
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ICICI Direct's research report on Siyaram Silk Mills


Siyaram Silk Mills (SSML), a fabric and apparel manufacturer, has created a strong brand portfolio largely catering to Tier II & III towns. Siyaram’s brand portfolio consists of reputed brands like Siyaram (flagship brand), Oxemberg, MSD and J Hampstead • Over the last decade, the company has gradually expanded its fabric and garment capacities and simultaneously managed to reduce the debt/equity from 1.0x in FY12 to 0.3x in FY22.



Outlook


We maintain BUY recommendation on the stock. We value SSML at Rs 610 i.e. 11x FY24E EPS.

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Siyaram Silk Mills - 100822 -ic

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first published: Aug 11, 2022 05:30 pm
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