AgenciesRelated
ICICI Securities has reduce call on with a target price of Rs 132. The current market price of Arvind Fashions Ltd. is Rs 145.8. Time period given by analyst is year when Arvind Fashions Ltd. price can reach defined target.
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 794.18 Crore, down -12.84 % from last quarter Total Income of Rs 911.13 Crore and up 5.58 % from last year same quarter Total Income of Rs 752.23 Crore. Company reported net profit after tax of Rs -99.45 Crore in latest quarter.
Investment Rationale
Factoring-in the impact of recent lockdowns, the brokerage reduces FY22E EBITDA though but maintains it for FY23E. It maintains REDUCE with an unchanged DCF-based target price of Rs132/sh, as net debt to EBITDA is still likely to remain high at ~3.5x in FY23E amidst gradual demand recovery. Key risk: faster recovery in discretionary spends, and turnaround or sale of Unlimited.
Promoter/FII Holdings
Promoters held 40.4 per cent stake in the company as of March 31, 2021, while FIIs held 8.8 per cent, DIIs 10.8 per cent and public and others 40 per cent.
(Views and recommendations given in this section are the analysts' own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.)
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 794.18 Crore, down -12.84 % from last quarter Total Income of Rs 911.13 Crore and up 5.58 % from last year same quarter Total Income of Rs 752.23 Crore. Company reported net profit after tax of Rs -99.45 Crore in latest quarter.
Investment Rationale
Factoring-in the impact of recent lockdowns, the brokerage reduces FY22E EBITDA though but maintains it for FY23E. It maintains REDUCE with an unchanged DCF-based target price of Rs132/sh, as net debt to EBITDA is still likely to remain high at ~3.5x in FY23E amidst gradual demand recovery. Key risk: faster recovery in discretionary spends, and turnaround or sale of Unlimited.
Promoter/FII Holdings
Promoters held 40.4 per cent stake in the company as of March 31, 2021, while FIIs held 8.8 per cent, DIIs 10.8 per cent and public and others 40 per cent.
(Views and recommendations given in this section are the analysts' own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.)
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