Buy Gokaldas Exports, target price Rs 440: ICICI Direct

ICICI Direct has buy call on Gokaldas Exports with a target price of Rs 440. The current market price of Gokaldas Exports is Rs 406.6. Time period given by analyst is 2 weeks when Gokaldas Exports Ltd. price can reach defined target.

Gokaldas Exports Ltd., incorporated in the year 2004, is a Small Cap company (having a market cap of Rs 2415.30 Crore) operating in Apparels sector.

Gokaldas Exports Ltd. key Products/Revenue Segments include Textile Apparels, Export Incentives, Scrap, Job Work for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 524.06 Crore, up 17.50 % from last quarter Total Income of Rs 446.00 Crore and up 93.55 % from last year same quarter Total Income of Rs 270.76 Crore. Company reported net profit after tax of Rs 30.11 Crore in latest quarter.


Investment Rationale
The brokerage expects the stock to maintain positive bias and head towards Rs 440 levels in the coming weeks being the 123.6% external retracement of the recent breather (Rs 428-325)

Promoter/FII Holdings
Promoters held 24.09 per cent stake in the company as of 31-Dec-2021, while FIIs owned 12.37 per cent, DIIs 26.24 per cent.