Nirmal Bang flags 39% upside on Flair Writing, sees diversification beyond pens cushioning export hit
Broker issues 'Buy' with Rs 389 target, citing Flair's pivot into creative stationery and steel bottles, plus new wooden pencil capacity at Surat. New categories projected to contribute 50% of revenue, supporting 15% growth and 18% Ebitda margins. Rs 15-20 crore export disruption seen as transient.
Nirmal Bang issues 'Buy' on Flair Writing with Rs 389 target (39% upside), citing diversification from pens into creative stationery and steel bottles, plus wooden pencil production at Surat. Export disruptions seen as temporary.