Hold Kewal Kiran Clothing; target of Rs 1770: Sharekhan

Sharekhan recommended hold rating on Kewal Kiran Clothing with a target price of Rs 1770 in its research report dated April 24, 2018.

Broker Research

April 25, 2018 / 16:17 IST

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Sharekhan's research report on Kewal Kiran Clothing

FY2018 – Challenging year for Kewal Kiran Clothing Limited (KKCL) on account of hiccups in macro environment and intense competition from online players. Investors with a long-term view and looking for a lean balance sheet company can stay invested in KKCL. Revenue of KKCL declined and higher operating expenses led to dent in margins and profitability in Q4FY2018.

Outlook

We reduce our earnings estimates substantially for FY2019/FY2020 and maintain our Hold rating with a revised price target of Rs. 1,770.

For all recommendations report, click here

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Broker Research

first published: Apr 25, 2018 04:17 pm

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