Jan 17, 2013, 12.32 PM | Source: Moneycontrol.com
Firstcall Research is bullish on Shalimar Paints and has recommended buy rating on the stock with a target of Rs 153 in its January 15, 2013 research report.
, Firstcall Research |
“At the current market price of Rs 136, the stock P/E ratio is at 14.87 x FY13E and 12.99 x FY14E respectively. Earning per share (EPS) of the company for the earnings for FY13E and FY14E is seen at Rs.9.15 and Rs.10.47 respectively. Net Sales and PAT of the company are expected to grow at a CAGR of 16% and 19% over 2011 to 2014E respectively. On the basis of EV/EBITDA, the stock trades at 6.87 x for FY13E and 6.03 x for FY14E. Price to Book Value of the stock is expected to be at 3.18 x and 2.55 x respectively for FY13E and FY14E. We expect that the company surplus scenario is likely to continue for the next years, will keep its growth story in the coming quarters also. We recommend ‘BUY’ in this particular scrip with a target price of Rs 153 for medium to long term investment,” says Firstcall Research report.
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