Moneycontrol PRO

Buy Suryaamba Spinning Mills; target of Rs 200: Equity99

Equity99 is bullish on Suryaamba Spinning Mills has recommended buy rating on the stock with a target price of Rs 200 in its research report dated August 03, 2018.

September 18, 2018 / 02:09 PM IST
  • bselive
  • nselive
Todays L/H

Equity99's research report on Suryaamba Spinning Mills

Incorporated in 1992, Nagpur based Suryaamba Spinning Mills Limited manufactures and sells synthetic blended yarns in India. The Company Manufactures Polyester and Polyester/Viscose Blended Yarn. The company also manufactures Synthetic Ring Spun Yarn for weaving, knitting, and embroidery and other industrial applications and specialized products according to customer requirements. An ISO 9001:2008 certified organization, Suryaamba is a state of art manufacturing unit located strategically at Nayakund, near Ramtek, District: Nagpur (Maharashtra). Its installed capacity is 62000 spindles. The company exports its products to the United States, Mexico, Italy, Germany, Spain, Portugal, Switzerland, Belgium, Turkey, Egypt, Morocco, Nigeria, Poland, Canada, Peru, Columbia, Brazil, Argentina, Chile, Bangladesh, and South Africa.


At CMP, the stock trades at a PE of just 14x on its EPS (TTM) of Rs.8. The stock is available at a discount compared to the Industry P/E of 21.32x, S&P BSE Small-Cap P/E of 103.53x and Nifty Small-Cap 250 P/E of 102x. Its market cap is just Rs.36 crore Vs. sales of Rs.152crore. Company has declared 10% dividend for FY18 after 2 years. Considering these factors, we recommend this stock for a long-term target of Rs.200.

For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Aug 3, 2018 02:07 pm

stay updated

Get Daily News on your Browser
ISO 27001 - BSI Assurance Mark