Sharekhan has given Buy on the stock with a revised price target (PT) of Rs. 183 recommendation for Arvind with a target price of Rs. ekhan is bullish on Arvind has recommended buy on the stock with a revised price target (PT) of Rs. 183 in its research report issued on Jan 27, 2022
With strong performance momentum continued Q3, we expect the company to meet the target of sales volumes of 90 million metres in the denim segment, 125-128 million metres in the woven segment and 48 million-50 million pieces in the garments business in FY2022. Increased revenue, a steady improvement in OPM, and reduction in debt would result in strong improvement in return ratios. The stock is currently trading at an attractive valuation of 5.7x/4.6x its FY2023E/24E EV/EBIDTA. We maintain a Buy on the stock with a revised price target of Rs. 183 (rollover to FY24).