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Tuesday, March 25, 2008

Richa Knits:-Great bets to own

Scripscan:Richa knits

Story:Richa knits is engaged in Greige fabric knitting, knitted fabric dyeing and finishing, garment dyeing and garment manufacturing. Its product range includes fashion wear T-shirts, capris, cargo, and sweaters, for both men and women. The company has been on an expansion phase for the past 3 years.Richa Knits over the years has grown as a quality supplier of knitted fabric to several north- based export oriented textile processing and garment manufacturing companies. For export of garments, its major international clients include K-Mart, Redsand and Bay Trading, UK.In June 2005, the company launched its premium leisure wear brand, AVO-CADO, and entered the domestic market by establishing its own exclusive business outlets (EBOs). It also has a strong dealer and distributor network in many states in Northern India.It has also entered into agreements with retail dealers.It gets high margins of about 30 – 35% in it dyeing and processing segment, which is its strength area as reputed export houses outsource dyeing and processing work to the company.Considering Richa Knit's expansion spree, high operating profit margins, professional management and cost-effective integrated manufacturing facilities that would lead to a high trajectory growth in revenues, the scrip looks good for an year perspective.

Buzz:The company is expected to more than double its turnover in the coming few years.There are strong rumuors in the market of the company making a private placement to some Fiis,qib at much higher levels.Some leading brokerage houses are in active talks with the management and a coverage may just be there in the offing.The scrip hasnt fallen at all in these sinking market where mid and small caps mostly got butchered.Keep a close watch on the scrip.

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