Scripscan:Nahar Spinning Mills Ltd
Code:500296
cmp:75
Story:Nahar Spinning Mills Limited engages in the manufacture and export of woolen/cotton hosiery, knitwear, and woolen textiles in India and internationally. It offers cotton/synthetic and blended yarns, and mercerised dyed yarns, as well as T-shirts to various brands, such as GAP, Arrow, Old Navy, Pierre Cardin, Philips Van Heusen, Izod, Quicksilver, and Price Costco. The company was incorporated in 1980 and is based in Ludhiana, India.Last year the company went in loss on account of foreign exchange loss. This year there is no more exchange loss.Cotton prices too have gone up.The company has been selling its yarn in proportion to that.In the last six months, the sales were Rs 541 crore. The cash margin was Rs 77 crore, which is about 14-15%.The company hopes to do even better in the next six months.Nahar Spinning Mills is expected to report revenues of over 1100cr this fiscal,np too should commensurate with it.The worst is behind the textile industry and any meaningful rally in the sector would take nahar to three digits.It has been a four-bagger already,apply caution and look for lower levels to make an entry.
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