TCNS Clothing share price: Add TCNS Clothing, target price Rs 630: ICICI Securities
TCNS Clothing Co. Ltd., incorporated in the year 1997, is a Mid Cap company (having a market cap of Rs 3696.58 Crore) operating in Apparels sector.
Financials
For the quarter ended 31-12-2020, the company reported a Standalone Total Income of Rs 242.82 Crore, up 58.19 % from last quarter Total Income of Rs 153.50 Crore and down -27.76 % from last year same quarter Total Income of Rs 336.14 Crore. Company reported net profit after tax of Rs 12.66 Crore in latest quarter.
Investment Rationale
Factoring-in the impact of recent lockdowns, the brokerage reduces FY22E EBITDA though it maintains it for FY23E. It maintains ADD with revised DCF-based target price of Rs630/sh (earlier Rs430/sh) on better cash flows and half-yearly rollover to Mar’23E. Key risk: lower discretionary spends & increasing online competition.
Promoter/FII Holdings
Promoters held 32.3 per cent stake in the company as of March 31, 2021, while FIIs held 22 per cent, DIIs 1.9 per cent and public and others 43.8 per cent.
(Disclaimer: 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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