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Buy Century Textiles, price target Rs 580: Manas Jaiswal

Manas Jaiswal of has a buy call on Century Textiles & Industries Ltd. with a target price of Rs 580.0 . The current price of Century Textiles & Industries Ltd. is Rs 568.35 . Manas Jaiswal recommended to keep a stoploss at Rs 549 .

Century Textiles & Industries Ltd., incorporated in the year 1897, is a Mid Cap company (having a market cap of Rs 6009.79 Crore) operating in Cement sector.

Century Textiles & Industries Ltd. key Products/Revenue Segments include Cement & Clinker which contributed Rs 3424.57 Crore to Sales Value (86.90 % of Total Sales), Other Operating Revenue which contributed Rs 284.79 Crore to Sales Value (7.22 % of Total Sales), Lease Rentals which contributed Rs 205.66 Crore to Sales Value (5.21 % of Total Sales), Export Incentives which contributed Rs 21.48 Crore to Sales Value (0.54 % of Total Sales) and Scrap which contributed Rs 4.03 Crore to Sales Value (0.10 % of Total Sales)for the year ending 31-Mar-2019.

For the quarter ended 30-09-2019, the company has reported a Consolidated sales of Rs 851.23 Crore, down -.52 % from last quarter Sales of Rs 855.64 Crore and down -12.69 % from last year same quarter Sales of Rs 974.92 Crore Company has reported net profit after tax of Rs 182.70 Crore in latest quarter.

The company’s top management includes Mr.Jagdish Chandra Laddha, Mr.Kumar Mangalam Birla, Mr.R K Dalmia, Mr.Rajan A Dalal, Mr.Sohanlal K Jain, Mr.Yazdi P Dandiwala, Mrs.Rajashree Birla, Ms.Preeti Vyas. Company has SRBC & Co LLP as its auditoRs As on 31-12-2019, the company has a total of 111,695,680 shares outstanding.

Source: Economic Times