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Change Change %
14.50 2.83%

Updated:24 May, 2019, 15:53 PM IST

Change Change %
15.35 3.00%

Updated:24 May, 2019, 16:01 PM IST

Research Report Detail

Report Date Call Price@Call Target Price
Stop Loss
Current Status Time Horizon
HDFC Securities
30-08-2017 Buy 314.95 446.00
Target Hit Long (1Y)

HDFC Securities maintains buy on Kiri Industries

Kiri Industries Limited (KIL) is one of the largest manufacturers and exporters of wide range of dyes, intermediates and chemicals from India. KIL has seen an operational turnaround on a standalone basis on account of the surging prices of the dye intermediates comprising of 69% of company's revenues due to reduction in heightened competition from Chinese players and moving up of the value chain by KIL. Apart from this turnaround in the operational performance of the company, KIL has indulged in serious debt reduction efforts which has brought down the debt of the company by around 46% in FY16 and further by 40% in FY17. Company's JV with Dystar is performing reasonably well and has contributed positively to its EPS for the past three years and is expected to continue the same with good prospects for reactive dyes and direct dyes globally. Also, the company expects to unlock the value in its associate company as a result of the suit filed in Singapore.