|
07 Jun 2019
|
Nandan Denim
|
Karvy
|
3.59
|
41.00
|
41.95
(-91.44%)
|
Target met |
Sell
|
|
|
Nandan Denim Ltd: Working Capital Tightens
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|
15 Feb 2019
|
Nandan Denim
|
Karvy
|
3.59
|
40.00
|
43.05
(-91.66%)
|
Pre-Bonus/
Split |
Sell
|
|
|
Weakness to Persist till H2FY20E: Volumes and realizations continue to reduce on account of oversupply. Denim volumes stood at 17.03 Mn at realisation of Rs. 122/metre in Q3FY19 vs 17.26 Mn atRs. 133/metre in the corresponding period in the last fiscal.
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|
13 Nov 2018
|
Nandan Denim
|
Karvy
|
3.59
|
65.00
|
67.55
(-94.69%)
|
Pre-Bonus/
Split |
Sell
|
|
|
Demand Outlook Looks Bleak for FY19E: Overcapacity continues to lower margins. Realizations were down ~ 10% in H1FY19on YoY basis as domestic supply demand mismatch continues to impact sales.
|
|
21 Aug 2018
|
Nandan Denim
|
Karvy
|
3.59
|
77.00
|
74.95
(-95.21%)
|
Target met |
Sell
|
|
|
Revenue Mix Worsens, Realization Improvement to Take Time: Denim contributed 60% of the total revenues, at Rs. 2168 Mn as of Q1FY19, vs 69%, in Q1FY18 and the sales of yarn and fabric continues to be higher, by 6% on YoY basis.
|
|
05 Jun 2018
|
Nandan Denim
|
Karvy
|
3.59
|
79.00
|
79.80
(-95.50%)
|
Target met |
Sell
|
|
|
No Reprieve in Denim Demand Outlook: Proportion of Denim sales to the overall revenue mix has continuously been the low in FY17 (Q1 69.7%, Q2- 67.1%, Q3 63.2% and Q4 64%), indicating the supply-demand gap continues to be large. We expected recovery towards2HFY18, as industry and economy in general recovered from the double impact of demonetization and GST.
|
|
05 Jun 2017
|
Nandan Denim
|
Ventura
|
3.59
|
175.00
|
133.55
(-97.31%)
|
Target met |
Buy
|
|
|
We initiate coverage on Nandan Denim Ltd as a BUY with a price objective of Rs 175 which represents a potential upside of 32.5% from the CMP of Rs 132
|
|
10 Jan 2017
|
Nandan Denim
|
GEPL Capital
|
3.59
|
140.00
|
119.80
(-97.00%)
|
Target met |
Buy
|
|
|
Nandan Denim is a part of Gujarat based, a leading conglomerate Chiripal Group. Company commenced its operations in 1994 with textile trading business & later forayed into textile manufacturing in 2004. Company currently engaged in manufacturing of denims, cotton fabrics & khakis. Company has one of the largest denim fabric manufacturing capacities in the world. Company exports its denim fabric to over 27 countries across the globe through its...
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|
02 Sep 2015
|
Nandan Denim
|
Karvy
|
3.59
|
158.00
|
122.80
(-97.08%)
|
Target met |
Buy
|
|
|
Nandan Denim (NDL) has one of the largest denim fabric manufacturingcapacities in the world and will be the second-largest in India with denimcapacity of 110 MMPA (post expansion) after Arvind, which has a capacity of130MMPA. The company manufactures denim, cotton fabrics and khaki cloth.It also has fully integrated facilities for manufacturing a range of products viz.woven fabrics, circular knitted fabrics, polar fleece fabrics, cotton hosiery,denim, etc.
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