Credit Suisse expects brands and retail to improve Arvind financials

Credit Suisse has initiated coverage on Arvind with an outperform rating and a target price of Rs 360. It believes improving margins in brands and retail, faster growth in relatively low capital-intensive businesses, and improvement in working capital should gradually help free cash flows. The brokerage expects revenue CAGR of 15 percent and EPS of 27 percent by FY16-18.