Buy Repro India: LKP Shares

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Buy Repro India: LKP Shares

LKP Shares has maintained its buy rating on Repro India. Q2-FY’09 witnessed revenue growth of 43% yoy and EBIDTA grew 48% yoy led by exports, which accounted for 64% of Q2 revenues.

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LKP Shares has maintained its buy rating on Repro India in its November 17, 2008 research report. "Q2-FY'09 witnessed revenue growth of 43% yoy and EBIDTA grew 48% yoy led by exports, which accounted for 64% of Q2 revenues. Repro had earmarked Rs 145 million out of its IPO proceeds to fund its SEZ and this SEZ at Surat would be fully operational during Q4 of the current fiscal for which Repro has taken an additional foreign currency loan of USD 7 million of which USD 5.5 million has already been expended."

"We estimate revenues of Rs 350 million from the SEZ during this fiscal and Rs 800 million next fiscal. Repro trading at 3xFY'10E earnings is held 73% by the Promoters and 7% by Institutional Investors. We re-iterate BUY on the stock," says LKP Shares' research report.

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