ICICI Direct has buy call on Gokaldas Exports with a target price of Rs 570. The current market price of Gokaldas Exports is Rs 462.2. Time period given by analyst is a year when Gokaldas Exports price can reach defined target.
Gokaldas Exports key Products/Revenue Segments include Textile Apparels, Export Incentives, Scrap, Job Work for the year ending 31-Mar-2021.
Financials
For the quarter ended 31-03-2022, the company has reported a Consolidated Total Income of Rs 587.95 crore, up 12.19% from last quarter; Total Income of Rs 524.06 Crore and up 57.77% from last year same quarter. The company has reported net profit after tax of Rs 60.91 crore in latest quarter.
Investment Rationale
GEL witnessed significant re-rating on the back of consistent outperformance despite various headwinds. For FY22, GEL exports grew 58% YoY vs. 36% India exports. We like GEL as a structural long term story to play the apparel export space and maintain BUY recommendation on the stock, the brokerage said.
Key triggers for future price performance:
Production currently operating at peak utilisation levels with robust order book for the next six months
Charted out capex of Rs 350+ crore over the next four years (by FY25E) which will have potential to generate incremental revenues worth Rs 1300 crore
With the recent fundraise (QIP: Rs 300 crore), the company has strengthened its balance sheet with repayment of Rs 300 crore debt, post ..
Source Name:-Economic Times