Anand Rathi's research report on Visaka Industries
Visaka was hit by rising input costs and the high base of the BP division during the quarter. Its yarn division margins, however, continue to recover. The expected price hikes, de-leveraging, improving yarn division, commissioning of the Jhajjar plant and solar roofing (ATUM) would provide the requisite impetus to growth.
Outlook
We retain our Buy rating, with a lower TP of `640.
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