Brokerage Antique starts India's Flair Writing with 'buy'; says co a 'steal deal'

Flair Writing Industries

17/04/2026 04:54

** Antique Stock Broking initiates coverage on India's Flair Writing Industries FLAI.NS with "buy" rating, sets PT at 520 rupees

** Shares of pen maker FLAI up 0.5% to 328 rupees on the day

** Says co a "creative steal deal"- Antique

** Stable growth in own brands of pens, high growth momentum in emerging categories, operating leverage improving profitability- Antique

** Own brands are expected to grow in high single to double digit in the medium term led by Hauser- Antique

** Adds improvements in working capital cycle supporting free cash flow generation

** Brokerage expects co to deliver revenue/ EBITDA/ PAT CAGR of 16%/ 21%/21% over FY25-28E

** YTD, FLAI up 3.5%

(Reporting by Komal Salecha in Bengaluru)

((Komal@thomsonreuters.com))