Multibagger in Making - Nandan Denim Ltd

Promotors are Increasing Stake

“Nandan Denim Limited is headquartered in Ahmadabad, which was incorporated as Nandan Exim Pvt. Ltd in 1994. It is part of the Chiripal Group, which has multiple businesses including textiles, real estate, education and construction. The company commenced commercial operation in 1999. It was initially involved in the trading of textile fabrics. In 2004, the company changed its name to Nandan Exim Ltd and set up a denim fabric manufacturing capacity. To add to its glory it is now Nandan Denim Limited has an ISO certification and Oeko-Tex certification on its credit. Nandan Denim annually makes 100 million metres of fashion fabrics enough to go around Earth 2.5 times.”

NANDAN DENIM LTD - FINANCIAL RESULTS

PARTICULARS ( CR)	MAR 2017	MAR 2016	% CHG
NET SALES	382.06	294.31	29.82
OTHER INCOME	0.78	1.55	-49.68
TOTAL INCOME	382.84	295.86	29.4
TOTAL EXPENSES	321.65	247.18	30.13
OPERATING PROFIT	61.18	48.67	25.7
NET PROFIT	15.61	16.57	-5.79
EQUITY CAPITAL	48.05	45.55	-

Why are FIIs buying shares of Nandan Denim at 57% premium to the CMP? …

One aspect that has perplexed novice investors like you and me is as to why elite FIIs are aggressively buying warrants of Nandan Denim where the conversion into equity shares is at a price much higher than the prevailing market price.

We saw this phenomenon first when Polus Global Fund, a FII with a stellar track record for finding multibagger stocks, scooped up a chunk of 2.5 million convertible warrants of Nandan Denim where the shares were to be issued at Rs. 200 each even though the then prevailing price was only Rs. 115.

Later, more elite FIIs such as LTS Investment Fund Ltd and LGOF Global Opportunities Ltd have queued up for convertible warrants of Nandan Denim. The FIIs have pumped in Rs. 100 crore to acquire 5 million convertible warrants.

Business area of the company

The plant manufactures 100% cotton piece dyed fabric, blended cotton fabric and denim keeping in tune with the fashion and market trends. Also manufactured are fabrics of different weaves, dyes, combination of yarns, weights etc. These fabrics find applications in various outfits and garments. The range of fabrics include denim, twills, stretch, bull denim, broken twills.

Group companies

Chiripal Industries (Fabric Division)
Chiripal Industries (Petrochemical Division)
Vishal Fabrics
Nova Petrochemicals
Chiripal Lifestyle (Garment Retail)
Vraj Integrated Textile Park
Shanti Asiatic School

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