Prabhudas Lilladher has maintained its outperformer rating on Anant Raj Industries with a target price of Rs 282 in its June 2, 2008 research report. "Anant Raj Industries’ (ARIL) results were broadly in line with our estimates. However, the reported topline of Rs 6.03 billion was net of cost of investments. The company’s topline grew 190%, with strong EBIDTA margin of 93.1%. Its PAT stood at Rs 4.37 billion, YoY growth of 248%."

"We expect strong topline growth of 102% and 112% to Rs 122.2 billion and Rs 258.9 billion in FY09 and FY10 respectively. For the corresponding period, EBIDTA margins are likely to be 69.4% and 65% respectively. The company is expected to report strong PAT growth of 44% and 101% in FY09 and FY10 respectively. Our working of the company’s NAV stands at Rs 332. Our target price of Rs 282 is based on 15% discount to NAV. We maintain Outperformer rating on the stock," says Lilladher's research report.

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