Nitin Spinners Ltd Initiating Coverage Report By IndiaNivesh

Nitin Spinners Ltd (NSL) is aggressively expanding its capacities to capitalise on the expected demand revival in textile sector. Catering to diversified textile segments including apparel, made‐ups, denim, intimate wear, among others, the company is well poised to take advantage of any improvement in demand world‐wide. We expect sales of the company to grow at 21.6% CAGR over FY15‐FY18E period. We expect the return ratios of the company to improve further post completion of capacity expansion plans. We initiate coverage on NSL with BUY rating and target price of Rs 112 with long term horizon.

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