Readymade Garments/ Apparells · PGIL
Textiles - Readymade Apparel
from 2,425 today
We initiate coverage on Pearl Global with BUY and TP of Rs2,800 on the back of PGIL's exposure in key exporting nations, one of the highest capacity adds in the garmenting space, margin expansion led by relief from one-off costs, and a robust balance sheet allowing self-funding of growth opportunities.
Pearl Global Industries reported a strong set of numbers with a beat on all fronts, driven by volume growth and margin expansion from value-added products. Management expects EBITDA margins to sustain going ahead, leading to revised upward EPS estimates and a maintained 'Accumulate' rating.
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