Buy Vardhman Textiles, target price Rs 455: Emkay Global

Emkay Global has buy call on Vardhman Textiles with a target price of Rs 455. The current market price of Vardhman Textiles is Rs 316.8.

Vardhman Textiles Ltd., incorporated in the year 1973, is a Mid Cap company (having a market cap of Rs 9173.97 Crore) operating in Textiles sector.

Vardhman Textiles Ltd. key Products/Revenue Segments include Yarn, Fabric, Export Incentives, Garments, Others, Service Income for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 2499.98 Crore, down -11.72 % from last quarter Total Income of Rs 2831.79 Crore and up 1.93 % from last year same quarter Total Income of Rs 2452.54 Crore. Company reported net profit after tax of Rs 196.59 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 62.91 per cent stake in the company as of 30-Jun-2022, while FIIs owned 7.51 per cent, DIIs 16.56 per cent.