Moneycontrol PRO
UPCOMING EVENT: We will crown India’s Sustainability Champions at the first Sustainability100+ Awards tomorrow. Be there!

Buy Vardhman Textiles; target of Rs 3125: ICICI Direct

ICICI Direct is bullish on Vardhman Textiles recommended buy rating on the stock with a target price of Rs 3125 in its research report dated January 25, 2022.

January 31, 2022 / 12:40 PM IST
  • bselive
  • nselive
Todays L/H

ICICI Direct's research report on Vardhman Textiles

Vardhman Textiles (VTL) (earlier known as Mahavir Spinning) is part of the Vardhman Group, a large textile conglomerate with a presence across the textile value chain. Vardhman is among few textile companies that have been able to maintain a debt equity ratio below one despite continuous capacity addition • Healthy cash flows have enabled VTL to reduce debt by ~Rs 152 crore in FY21 (D/E: 0.3x in FY21). We expect D/E ratio to stay at ~0.3x in FY24E.


We continue to remain structurally positive and maintain BUY rating. We value VTL at Rs 3125 i.e. 11x FY24E earnings.

More Info on Trent

At 17:30 Vardhman Textiles was quoting at Rs 2,400.10, down Rs 2.10, or 0.09 percent.

It has touched an intraday high of Rs 2,454.20 and an intraday low of Rs 2,388.30.

It was trading with volumes of 4,341 shares, compared to its thirty day average of 11,308 shares, a decrease of -61.61 percent.

In the previous trading session, the share closed up 0.75 percent or Rs 17.85 at Rs 2,402.20.

The share touched its 52-week high Rs 2,880.00 and 52-week low Rs 971.00 on 21 January, 2022 and 24 February, 2021, respectively.

Currently, it is trading 16.87 percent below its 52-week high and 146.57 percent above its 52-week low.

Market capitalisation stands at Rs 13,866.05 crore.

For all recommendations reportclick 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: Jan 31, 2022 12:40 pm