Siyaram Silk Mills Research Report By Angel Broking
| Siyaram Silk Mills Research Report By Angel Broking | |
| Company: | Siyaram Silk Mills |
| Brokerage: | Angel Broking |
| Date of report: | November 21, 2016 |
| Type of Report: | Result Update |
| Recommendation: | Buy |
| Upside Potential: | 33% |
| Summary: | At the current market price, SSML trades at an inexpensive valuation (at a P/E of 10.4x its FY2018E earnings |
| Full Report: | Click here to download the file in pdf format |
| Tags: | Angel Broking, Siyaram Silk Mills |
| Outlook and Valuation: Going forward, we expect SSML to report net sales CAGR of ~10% to ~ Rs. 1,948cr and adj. net profit CAGR of ~11% to Rs. 107cr over FY2016-18E. The same would be on the back of market leadership in blended fabrics, strong branding, wide distribution channel, strong presence in tier II and tier III cities, and emphasis on latest designs at affordable pricing points. At the current market price, SSML trades at an inexpensive valuation (at a P/E of 10.4x its FY2018E earnings). We recommend a Buy rating on the stock with the target price of Rs. 1,605. |
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