Moneycontrol PRO

Hold Vardhman Textiles; target of Rs 355: ICICI Direct

ICICI Direct recommended hold rating on Vardhman Textiles with a target price of Rs 355 in its research report dated November 02, 2022.

November 03, 2022 / 10:54 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 maintain reasonable debt levels. We expect the D/E ratio to stay at ~0.2x in FY24E.


We maintain HOLD recommendation on the stock. We value VTL at Rs 355 i.e. 8x FY24E earnings.

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.

Vardhman Textiles - 03-11-2022 -icici

Broker Research
first published: Nov 3, 2022 10:54 pm