ICICI Direct's research report on Indo Count
Indo Count is one of India’s largest home textile manufacturer and exporters with an extensive product range spanning across bed sheets, quilts and bed linen. It has a presence in top nine out of 10 top big box retailers in the US. Indo Count is an integrated bedding solution provider, boasting capacity of 90 million meters per annum of dyeing/processing and cutting /sewing • It exports to nearly 54 countries with US being the prime market (~75% of revenues and commanding ~20%+ market share in bed sheets).
We maintain HOLD rating on the stock. We value ICL at Rs 150 i.e. 7x FY24E EPS.
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