Buy Indo Count Industries, target price Rs 360: ICICI Direct

ICICI Direct has buy call on Indo Count Industries Ltd. with a target price of Rs 360. The current market price of Indo Count Industries Ltd. is Rs 261.8.

Time period given by analyst is one year when Indo Count Industries Ltd. price can reach defined target.

Indo Count Industries Ltd., incorporated in the year 1988, is a Small Cap company (having a market cap of Rs 5190.62 Crore) operating in Textiles sector.


Indo Count Industries Ltd. key Products/Revenue Segments include Textile Goods, Export Incentives for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 766.95 Crore, up 1.02 % from last quarter Total Income of Rs 759.22 Crore and up 5.93 % from last year same quarter Total Income of Rs 724.05 Crore. Company reported net profit after tax of Rs 84.82 Crore in latest quarter.

Investment Rationale
With the acquisition ICIL would be able to add a whole new avenue of customer base which is untapped, thereby leading to gain in global market share. Currently GHCL services certain large big box retailers which are not over lapping with ICIL’s clientele.

Promoter/FII Holdings
Promoters held 58.94 per cent stake in the company as of 30-Sep-2021, while FIIs owned 9.76 per cent, DIIs 0.06 per cent.