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PL Capital flags upside for Gokaldas Exports and KPR Mill
The brokerage backed Gokaldas Exports with a buy rating and ₹953 target price, citing expectations for volume recovery as tariff headwinds ease.
PL Capital said India’s textile and apparel industry is set to benefit from a next phase of value creation for scaled, compliant and execution driven manufacturers, naming Gokaldas Exports and KPR Mill among its top listed picks. In a new report, the brokerage pointed to execution strength and growth prospects tied to operational improvements and backward integration for companies in the sector, according to LiveMint Markets.
For Gokaldas Exports, PL Capital initiated coverage with a Buy rating and a target price of ₹953 per share, implying nearly 37% upside. The brokerage expects volume growth to come alongside backward integration benefits and operating efficiencies, and it tied its valuation to a projected sharp recovery in volume as tariff headwinds ease, along with an improvement in EBITDA margin driven by operating leverage and higher earnings from a suppressed base level seen in FY26, LiveMint Markets reported.
The report also highlights that the stock closed up 2.23% at ₹711 per share on BSE on Wednesday, September 23. LiveMint Markets added that Gokaldas Exports traded near its 52-week high of ₹953.50 on November 20, 2025, after dipping to a 52-week low of ₹531.60 on January 27, 2026.
For KPR Mill, PL Capital said it is well positioned due to its scale, including the company’s garmenting capacity among listed Indian players, and initiated the stock with an Accumulate rating. The brokerage cited its presence in the UK and EU, noting that 63% of FY26 revenue comes from that region, and it estimated revenue, EBITDA and PAT growth at 11%, 15% and 13% CAGR over FY26 to FY29E, according to LiveMint Markets.