Hold Gokaldas Exports, target price Rs 400: ICICI Direct

ICICI Direct has hold call on Gokaldas Exports with a target price of Rs 400. The current market price of Gokaldas Exports is Rs 354.2. Time period given by analyst is one year when Gokaldas Exports Ltd. price can reach defined target.

Gokaldas Exports Ltd., incorporated in the year 2004, is a Small Cap company (having a market cap of Rs 2099.58 Crore) operating in Apparels sector.

Gokaldas Exports Ltd. key Products/Revenue Segments include Textile Apparels, Export Incentives, Scrap, Job Work for the year ending 31-Mar-2021.


Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 587.95 Crore, up 12.19 % from last quarter Total Income of Rs 524.06 Crore and up 57.77 % from last year same quarter Total Income of Rs 372.67 Crore. Company reported net profit after tax of Rs 60.91 Crore in latest quarter.

Investment Rationale
Key Global clients have high inventory levels and this could result in lower replenishment and slacken the pace of new orders which the brokerage believes can impact the revenue growth momentum. Also owing to elevated input cost it has reduced EBITDA margin estimates

Promoter/FII Holdings
Promoters held 24.09 per cent stake in the company as of 31-Mar-2022, while FIIs owned 11.03 per cent, DIIs 27.2 per cent.