External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

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Equity Bottom-Up

<ul><li>Gokaldas Exports (GEL) is one of India’s leading apparel exporters with an annual capacity of 30 million+ pieces</li><li>Gokaldas focuses on manufacturing complex garmenting products that insulate it from other price based competition</li><li>Target Price and Valuation: We value GEL at Rs 480 i.e. 20x FY24E EPS</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Gokaldas Exports (GEL) is one of India’s leading apparel exporters with an annual capacity of 30 million+ piecesGokaldas focuses on manufacturing complex garmenting products that insulate it from other price based competitionTarget Price and Valuation: We value GEL at Rs 480 i.e. 20x FY24E EPSContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Gokaldas Exports: Capacity Expansion to Spur Revenue Growth

<p>The company maintained its gross margins at ~50% (up 140 bps YoY). On account of positive operating leverage and foreign exchange gain, GEL reported one of its highest EBITDA margins of 11.7% (up 285 bps YoY) NWC days increased to 90 days in Q2FY22 (vs. 85 days in FY21) due to...</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

The company maintained its gross margins at ~50% (up 140 bps YoY). On account of positive operating leverage and foreign exchange gain, GEL reported one of its highest EBITDA margins of 11.7% (up 285 bps YoY) NWC days increased to 90 days in Q2FY22 (vs. 85 days in FY21) due to...Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Gokaldas Exports: Healthy Recovery on the Back of Robust Order Book

<p>KPR Mill is among select vertically integrated textile players in India having one of India' largest knitted garment manufacturing capacity of 157 million pieces. It has two major capex projects in the pipeline worth Rs 750 crore towards garmenting facility (Rs 250 crore) and ethanol facility (Rs 500 crore)...</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

KPR Mill is among select vertically integrated textile players in India having one of India' largest knitted garment manufacturing capacity of 157 million pieces. It has two major capex projects in the pipeline worth Rs 750 crore towards garmenting facility (Rs 250 crore) and ethanol facility (Rs 500 crore)...Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Gokaldas Exports: Structural Long Term Play in Apparel Export Space

India

Gokaldas Exports Limited is a prominent Indian apparel manufacturer specializing in the design, manufacture, and sale of a diverse range of garments, including outerwear, activewear, fashion wear, bottom wear, casualwear, and sportswear for men, women, and children. The company serves a global clientele of prestigious fashion brands and retailers across more than 50 countries. Gokaldas Exports was founded in 1979 and is headquartered in Bengaluru, Karnataka, India.

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Gokaldas Exports (GEXP IN)

Gokaldas Exports: Capacity Expansion to Spur Revenue Growth

Gokaldas Exports (GEL) is one of India’s leading apparel exporters with an annual capacity of 30 million+ pieces. Gokaldas focuses on manufacturing...

ICICI Securities Limited

Gokaldas Exports: Healthy Recovery on the Back of Robust Order Book

The company maintained its gross margins at ~50% (up 140 bps YoY). On account of positive operating leverage and foreign exchange gain, GEL...

ICICI Securities Limited

Gokaldas Exports: Structural Long Term Play in Apparel Export Space

KPR Mill is among select vertically integrated textile players in India having one of India' largest knitted garment manufacturing capacity of 157...

ICICI Securities Limited

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