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|Summary||Date||Stock||Broker||Price at Reco.||Target||Price at reco|
Change since reco(%)
|2019-06-07||Nandan Denim Ltd.||Karvy||41.95||41.00||41.95 (-52.68%)||Target met||Sell|
|2019-02-15||Nandan Denim Ltd.||Karvy||43.05||40.00||43.05 (-53.89%)||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.
|2018-11-13||Nandan Denim Ltd.||Karvy||67.55||65.00||67.55 (-70.61%)||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.
|2018-08-21||Nandan Denim Ltd.||Karvy||74.95||77.00||74.95 (-73.52%)||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.
|2018-06-05||Nandan Denim Ltd.||Karvy||79.80||79.00||79.80 (-75.13%)||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.
|2017-06-05||Nandan Denim Ltd.||Ventura||133.55||175.00||133.55 (-85.14%)||Target met||Buy|
|2017-01-10||Nandan Denim Ltd.||GEPL Capital||119.80||140.00||119.80 (-83.43%)||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...
|2015-09-02||Nandan Denim Ltd.||Karvy||122.80||158.00||122.80 (-83.84%)||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.
|2015-06-26||Nandan Denim Ltd.||Nirmal Bang Institutional||94.25||94.25 (-78.94%)|
Nirmal Bang Institutional
Nandan Denim (NDL) is second-largest denim manufacturing company in India and is a part of the Chiripal Group, a leading business conglomerate. NDL commenced its operations in 1994 with textile trading and forayed into textile manufacturing in 2004. 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. We attended the analyst meet organised recently by NDL to know the company's business plans and prospects. Mr. Deepak Chiripal, director, and Mr. Govind Sharda, president, were present. Key highlights are as follows:...