Anand Rathi has given Buy recommendation for Rupa and Company with a target price of Rs. 500 in its research report issued on Sep 01, 2022

Anand Rathi’s research report on Rupa and Company

Rupa & Company Limited is one of the leading and largest knitwear brand in India. The Company is present across the entire value chain in the knitted garment space offering a gamut of products from innerwear to fashion wear. Itis engaged in the manufacturing, marketing, selling and distribution of men’s and women’s innerwear, thermal wear and fashion wear across economy, mid-premium, premium and super-premium categories. The Company operates through its state-of-the-art manufacturing facilities in West Bengal, Tamil Nadu, Karnataka and Uttar Pradesh. The company has a PAN-India as well as international presence with a large distribution network consisting of4 central warehouses, 7 exclusive brand outlets, more than 1200 dealers and1,25,000 retailers. Further, the company is present through online platforms like Rupa online store, Amazon, Flipkart, Myntra, etc.

Outlook

Given the company’s extensive range of branded products across all segments, strong balance sheet and attractive valuations. We maintain our BUY rating on RUPA, with a revised target price of Rs.500 per share.

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