Vardhman Textiles Ltd. share price target and research reports

Name: Latest research reports of Vardhman Textiles Ltd. authored by Centrum Broking and published by - Trendlyne research reports.
Item: Vardhman Textiles Ltd.
Rating: 5
Author: Centrum Broking

Latest analyst research reports with target prices and PDF download for VTL, BSE:502986 Vardhman Textiles Ltd.

Vardhman Textiles Ltd.

23 Aug 2018, 12:00AM

443.85

-1.20%

Vardhman Text

Buy: Vardhman Textiles Ltd.

Target

Centrum Broking

Vardhman Textiles Ltd (VTL), for Q1FY19 on a consolidated basis, reported decent numbers. Revenue grew ~8% YoY to 1,700 crore, aided by 7% growth in textile segment to 1,625 crore and 47% growth in acrylic fibre segment to 99 crore. EBITDA grew 32% to 292 crore. Lower raw material cost (down 91bps to 53.3% of sales) and other expenses (down 229bps to 21.7%) resulted in EBITDA margin expansion of 312bps to 17.2%. Net profit grew 7% to 159 crore, owing to lower other income (down 42%) and higher tax rate (29.5% vs 17.6% in Q1FY18). Management View: Maintained long term EBITDA margin guidance of 18-22%....

Vardhman Textiles Ltd. is trading below its 150 day SMA of 447.6

Vardhman Textiles Ltd.

16 Aug 2018

443.85

-1.20%

Vardhman Textiles Ltd

Hold: Vardhman Textiles Ltd.

Target

ICICI Securities Limited

Revenues for the quarter grew 8.4% YoY to | 1700 crore (I-direct estimate: | 1639.4 crore). Revenues from textile segment grew 7% YoY to | 1625 crore while on a low base acrylic fibre reported healthy revenue growth of 47% YoY to | 99.5 crore Gross margins for the quarter improved 91 bps YoY to 46.7% (on a sequential basis, gross margins declined 234 bps). Decline in other expenses (down 7% YoY to | 205.3 crore) further supported EBITDA growth. EBITDA margins for the quarter expanded 310 bps YoY to...

Vardhman Textiles Ltd. is trading below its 150 day SMA of 447.6

Vardhman Textiles Ltd.

18 May 2018

443.85

-1.20%

Vardhman Text

Buy: Vardhman Textiles Ltd.

Target

Centrum Broking

Vardhman Textiles Ltd (VTL), for Q4FY18, on a consolidated basis, reported EBITDA margin expansion of 45bps YoY (up 359bps QoQ) to 17.2%, in-line with our expectation. Margin expansion was aided by lower raw material cost (down 269bps to 51% of sales). Revenue declined by 5% to 1,510 crore, on the back of lower sales volume (Yarn down 6% to 50,110 tonne and grey & processed fabric down 7% to 730 lakh metres). Net profit grew 3% to 164 crore. Management View: Maintained long term EBITDA margin guidance of 18-22%. Recommendation: Since our Q3FY18 result update (6 Mar'18 @ 1,309, Rating...

Vardhman Textiles Ltd. is trading below its 150 day SMA of 447.6

Vardhman Textiles Ltd.

17 May 2018

443.85

-1.20%

Vardhman Textiles Ltd

Hold: Vardhman Textiles Ltd.

Recommendation Target

ICICI Securities Limited

Gross margins for the quarter expanded significantly by 270 bps YoY to 49%, mainly on account of softening of cotton prices. However, negative operating leverage (employee, power & other expenses as a...

Vardhman Textiles Ltd. is trading above its 100 day SMA of 426.6

Vardhman Textiles Ltd.

06 Mar 2018

443.85

-1.20%

Vardhman Text

Buy: Vardhman Textiles Ltd.

Target

Centrum Broking

Vardhman Textiles Ltd (VTL), for Q3FY18, on a consolidated basis continued to witness weak operational performance, in-line with expectation. Higher raw material expenses, up 1,095bps YoY to 56.7% of sales, led to EBITDA margin contraction of 736 bps to 13.7%. Revenue grew by 12% to 1,648 crore, on the back of ~11% and 21% growth in the textiles and acrylic fibre segments, respectively. Lower operational performance and other income (down 34% to 38 crore) led to net profit declining by 29% to 136 crore. Sales volume of yarn grew 14% to 55,096 tonne and grey & processed fabric grew 4% to 759 lakh meters....

Vardhman Textiles Ltd. is trading above its 100 day SMA of 426.6

Vardhman Textiles Ltd.

08 Feb 2018

443.85

-1.20%

Vardhman Textiles Ltd

Buy: Vardhman Textiles Ltd.

Target

ICICI Securities Limited

Vardhman reported healthy revenue growth of 12.3% YoY to | 1648.0 crore (I direct estimate: | 1538.5 crore). Revenues from textile segment grew 11.0% YoY to | 1584.3 crore, whereas revenues from acrylic fibre rose 21.0% YoY to | 86.3 crore albeit on a favourable base of demonetisation in Q3FY17 EBITDA margins for the quarter declined 740 bps YoY to 13.7% (Idirect estimate: 16.0%) mainly on account of higher raw material expense (cotton) by 1095 bps YoY. However positive operating leverage (employee and other expenses down 72 bps and 273 bps...

Vardhman Textiles Ltd. is trading below its 150 day SMA of 447.6

Vardhman Textiles Ltd.

15 Nov 2017

443.85

-1.20%

Vardhman Text

Buy: Vardhman Textiles Ltd.

Centrum Broking

Vardhman Textiles Ltd (VTL), for Q2FY18, on a consolidated basis, continued to witness EBITDA margin pressure, in-line with expectation. Higher raw material cost (up 840bps to 55.8%) and employee expense (up 101bps to 8.9%) led to EBITDA margin contraction of 785bps to 13%. Revenue grew by ~2% to 1,523 crore while adjusted net profit decline by 42% to 133 crore. Management View: The management has maintained its view that margins could see some improvement from Q4FY18, with the expectation of higher acreage under cotton leading to softening of prices in the new cotton season 2017-18 (Oct-Sept)....

Vardhman Textiles Ltd. is trading below its 150 day SMA of 447.6

Vardhman Textiles Ltd.

14 Nov 2017

443.85

-1.20%

Vardhman Textiles Ltd

Buy: Vardhman Textiles Ltd.

Recommendation Target

ICICI Securities Limited

ICICI Securities Ltd | Retail Equity Research Consolidated revenues increased marginally by 1.9% YoY to | 1523.1 crore vs. estimated | 1555.6 crore. Revenues from the textile segment grew 1.6% YoY to | 1443.6 crore whereas revenues from acrylic fibre declined 10.3% YoY to | 92.0 crore EBITDA margins for the quarter declined 780 bps YoY to 13.0% (Idirect estimate: 14.5%) mainly on account of an increase in raw material expense (cotton) by 840 bps YoY. Subsequently absolute EBITDA de-grew 36% YoY to | 197.6 crore (I-direct estimate: | 226.2...

Vardhman Textiles Ltd. is trading below its 150 day SMA of 447.6

Vardhman Textiles Ltd.

17 Aug 2017

443.85

-1.20%

Vardhman Textiles Ltd

Hold: Vardhman Textiles Ltd.

Target

ICICI Securities Limited

ICICI Securities Ltd | Retail Equity Research Vardhman Textiles (VTL) reported a mixed set of Q1FY18 numbers. Consolidated revenues increased 6.0% YoY to | 1562.0 crore vs. estimated | 1595.3 crore. Revenues from the textile segment grew 6.5% YoY to | 1513.3 crore whereas revenues from acrylic fibre declined 35.7% YoY to | 67.7 crore EBITDA margins for the quarter declined 707 bps YoY to 14.1% (Idirect estimate: 17.2%) mainly on account of an increase in raw material expense (cotton) by 738 bps YoY. Subsequently, absolute...

Vardhman Textiles Ltd. is trading below its 150 day SMA of 447.6

Vardhman Textiles Ltd.

05 Jul 2017

443.85

-1.20%

Vardhman Textiles Ltd. Q4FY17 Update

Buy: Vardhman Textiles Ltd.

Choice India

The management has indicated that the company may face challenges in the near term owing to an increase in domestic cotton prices and appreciation of the rupee against other currencies. However, a higher proportion of fabrics in revenue would provide stability to the margins. With its new printed fabric capabilities, Vardhman has entered into women's tops and expanded the range for men's shirts fabrics. This entry will likely help the company to attract new customers and acquire new orders from existing customers as well. Moreover it will reduce volatility which arises due to cotton as manmade fibre is used in this and will also lead to...

Vardhman Textiles Ltd. is trading above its 100 day SMA of 426.6

Is Vardhman Textiles Ltd. worth buying?

183 Votes:

Buy 84.7%

Sell 10.38%

Hold 4.92%