Buy Siyaram Silk Mills; target of Rs 610: ICICI Direct

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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 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 0.3x in FY22.

Outlook

We maintain BUY recommendation on the stock. We value SSML at Rs 610 i.e. 11x FY24E EPS.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Siyaram Silk Mills - 100822 -ic