HDFC Securities has a “sell” recommendation for Aditya Birla Fashion and Retail (ABFRL), setting a target price of Rs 235. Currently, the stock is trading at Rs 273.6. ABFRL was founded in 2007 and is a large company with a market value of Rs 29,183.83 crore. They sell clothing, home goods, and accessories.
For the quarter ending September 30, 2024, ABFRL reported a total income of Rs 3,695.41 crore, which is a 6.32% increase from the previous quarter and a 12.93% rise from the same time last year. However, they reported a net loss of Rs 214.70 crore this quarter.
The management team includes well-known figures like Mr. Kumar Mangalam Birla and Ms. Preeti Vyas. The company’s auditor is S R B C & Co. LLP. ABFRL has 107 crore shares available for investors.
HDFC Securities predicts that ABFRL’s revenue will grow by 12% year-over-year to Rs 36.6 billion. They expect strong performance from brands like Madura and Pantaloons, predicting 9.7% and 12% growth, respectively, in Q3. The brokerage is estimating a 14.4% profit margin in Q3FY25, up from 13.3% in Q3FY24.
HDFC forecasts the company’s earnings per share (EPS) for the next few years to be Rs 39.3 for FY24, Rs 37.4 for FY25, and Rs 55.5 for FY26. They also expect the price-to-earnings (PE) ratio to be 88, 92, and 62 in those years, respectively.
As of September 30, 2024, the promoters own 49.25% of ABFRL, foreign institutional investors (FIIs) own 19.68%, and domestic institutional investors (DIIs) own 14.72%.
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