ICICI Direct has given Buy recommendation for Siyaram Silk Mills with a target price of Rs. 610 in its research report issued on Jan 31, 2021

ICICI Direct’s research report on Siyaram Silk Mills

Siyaram Silk Mills (SSML), a fabric and apparel manufacturer, has created a strong brand portfolio largely catering to the Tier II & III towns. Siyaram’s brand portfolio consists of reputed brands like Siyaram (flagship brand), Oxemberg, MSD and J Hampstead Over the last decade, the company has gradually expanded its fabric and garment capacities and simultaneously managed to reduce the debt/equity from 1.0x in FY12 to 0.2x in FY21


We maintain BUY recommendation on the stock We value SSML at Rs 610 i.e. 15x FY23E EPS.


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