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SIYSIL

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-0.20 (-0.03%)

NSE Volume

46.2K+

Broker Reports

Call Price: ₹480
27 OCT 21
Target: ₹590
Change: ₹457.75 (-4.21%)

BUY

Call Price: ₹225.16
29 JAN 20
Target: ₹250
Change: ₹226.6 (0.73%)

HOLD

Given the subdued market conditions, the working capital cycle may witness certain deterioration owing to higher inventory days. However, SSML continues to focus on stringent control on cash conversion cycles through better management of receivable days. Also, with no major capex plans in the near term, debt is expected to remain at levels similar to FY19 for the current fiscal. We roll over our estimates to FY22E and build in revenue and earnings CAGR of 4.2%, 10.4% YoY, respectively, in FY19-22E. We expect revenue growth to remain under pressure owing to challenging market environment. We ascribe HOLD rating to the stock with a revised target price of Rs 250 (9x FY22E EPS, earlier target price: Rs 270).
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Call Price: ₹242.36
22 OCT 19
Target: ₹333
Change: ₹241.55 (0.79%)

BUY

Going forward, we expect SSML to report net sales CAGR of ~9% to ~Rs 2,168cr and adj. net profit CAGR of ~13% to Rs 143cr over FY2019- 21E on the back of market leadership in blended fabrics, strong brand building, wide distribution channel and strong presence in tier 2 and tier 3 cities coupled with emphasis on latest designs and affordable pricing points. At the current market prices, SSML trades at inexpensive valuations. We maintain our Buy recommendation on the stock with a Target Price of Rs 333.
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Call Price: ₹231.42
16 AUG 19
Target: ₹270
Change: ₹213.2 (-4.05%)

BUY

On the balance sheet front, with stringent control on cash conversion cycle, the company was able to reduce its total debt by 22% YoY to | 460.2 crore (D/E: 0.6x in FY19 vs. D/E: 0.9x in FY18). Given the subdued market conditions, the working capital cycle may witness certain deterioration owing to higher inventory days. With no major capex plans in the near term, debt is expected to remain at levels similar to FY19. We expect revenue to grow at a CAGR of 7% in FY19-21E, with EBITDA margins remaining range bound at ~13%. SSML’s stock price witnessed a significant correction of ~33% since our last result update, making it available at valuation of 8.5x FY21E earnings. Hence, we have a BUY recommendation with a revised target price of Rs 270 (10x FY21E EPS).
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Call Price: ₹231.42
16 AUG 19
Target: ₹333
Change: ₹213.2 (-4.05%)

BUY

Going forward, we expect SSML to report net sales CAGR of ~9% to ~Rs 2,173cr and adj. net profit CAGR of ~13% to Rs 130cr over FY2019- 21E on the back of market leadership in blended fabrics, strong brand building, wide distribution channel and strong presence in tier 2 and tier 3 cities coupled with emphasis on latest designs and affordable pricing points. At the current market prices, SSML trades at inexpensive valuations. We maintain our Buy recommendation on the stock with a Target Price of Rs 333.
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Call Price: ₹340.15
24 MAY 19
Target: ₹410
Change: ₹258.85 (-4.87%)

BUY

FY19 was a year of consolidation for SSML, where the management’s keyfocus was on strengthening its balance sheet in lieu of revenue growth. Working capital cycle witnessed noteworthy recovery with NWC declining by ~10 days to 84 days. Subsequently, higher cash flow generation led to decline in total debt by 22% YoY to Rs 460.2 crore (D/E: 0.6x in FY19 vs. D/E: 0.9x in FY18). With no major capex plans in the near term, we expect SSML to consistently generate FCF and enable the company to further reduce its debt levels. We roll our estimates to FY21E and expect revenue, EBITDA to grow at a CAGR of 11%, 12%, respectively, in FY21E. SSML’s stock pricewitnessed a significant correction of ~48% in the last 12 months, making it available at valuation of 11.0x FY21E earnings. Hence, we have a BUY recommendation with a revised target price of | 410 (13x FY21E EPS).
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Call Price: ₹329.49
30 JAN 19
Target: ₹549
Change: ₹258.85 (-4.87%)

BUY

Going forward, we expect SSML to report net sales CAGR of ~13% to ~Rs 2,207cr and adj. net profit CAGR of ~13% to Rs 146cr over FY2018-20E on the back of market leadership in blended fabrics, strong brand building, wide distribution channel and strong presence in tier 2 and tier 3 cities coupled with emphasis on latest designs and affordable pricing points. At the current market prices, SSML trades at inexpensive valuations. We maintain our Buy recommendation on the stock with a Target Price of Rs 549.
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Call Price: ₹339.9
1 FEB 19
Target: ₹410
Change: ₹258.85 (-4.87%)

BUY

Call Price: ₹366.37
19 NOV 18
Target: ₹460
Change: ₹258.85 (-4.87%)

BUY

Call Price: ₹511.77
17 AUG 18
Target: ₹650
Change: ₹258.85 (-4.87%)

BUY

Call Price: ₹625.5
15 MAR 18
Target: ₹851
Change: ₹258.85 (-4.87%)

BUY

Call Price: ₹578.19
22 NOV 17
Target: ₹655
Change: ₹258.85 (-4.87%)

BUY

Call Price: ₹536
16 OCT 17
Target: ₹620
Change: ₹258.85 (-4.87%)

BUY

Call Price: ₹440
27 JUL 17
Target: ₹453
Change: ₹258.85 (-4.87%)

HOLD

Call Price: ₹400
2 JUN 17
Target: ₹454
Change: ₹258.85 (-4.87%)

BUY

Call Price: ₹246
23 NOV 16
Target: ₹266
Change: ₹258.85 (-4.87%)

HOLD

Call Price: ₹251.25
30 SEP 16
Target: ₹293.8
Change: ₹258.85 (-4.87%)

BUY

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