|Company||Filatex India Ltd|
|Date of report||February 12, 2018|
|Target Price (Rs)||259|
Filatex India Limited (FIL), is engaged in manufacturing Monofilament Yarns for Zippers, Tooth Brush Bristles, Velcro, Magic Fasteners and Forming Fabrics in India. All these products are import substitutes and are helping the country in saving precious foreign exchange. FIL is in the business of manufacturing Polyester, Nylon, FDY, POY, and DTY. The Company commenced with the manufacture of Monofilament Yarn and has now extended to Bright FDY. Their portfolio comprises intermediary products to multiple yarn varieties.
Valuation: Considering robust demand in the domestic as well as international market for man made fiber, we arrive at a Target Price of INR259 based of different multiples.