Himatsingka - Turnaround stock Buy

 Net Sales at Rs 548.19 crore in December 2022 down 24.16% from Rs. 722.87 crore in December 2021.

Quarterly Net Profit at Rs. 1.35 crore in December 2022 down 95.66% from Rs. 31.12 crore in December 2021.

EBITDA stands at Rs. 92.74 crore in December 2022 down 19.96% from Rs. 115.87 crore in December 2021.

Equity Returns

1 week up 8.52%

1 month up 12.32%

6 months down 23.73%

1 year down 47.17%

Textile stocks are underperforming. Stock appeared to have bottomed out around 70 levels. Wait for correction and buy on dips for long term investment.