Buy Symphony; target of Rs 1776: Firstcall Research

1392 Investors following Symphony. Share this News with them.

0

Like this story, share it with millions of investors on M3

Buy Symphony; target of Rs 1776: Firstcall Research

Firstcall Research is bullish on Symphony and has recommended buy rating on the stock with a target of Rs 1776 in its April 25, 2011 research report.

Post your opinion here

 

0

Tweet

Share on Tumblr

RELATED NEWS Angel Broking neutral on IDBI Bank Accumulate Yes Bank; target of Rs 355: Angel Broking Buy Axis Bank; target of Rs 1768: Angel Broking ALSO READ See previous views by Firstcall Research See what other Experts & Brokerages are saying about Symphony See messages about Symphony Symphony BSE | NSE 31/05/12 Are Mutual Funds betting on Symphony?

Firstcall Research is bullish on Symphony and has recommended buy rating on the stock with a target of Rs 1776 in its April 25, 2011 research report.

"Symphony comfort systems was incorporated in 1988, Symphony comfort systems was promoted by Achal Anil Bakeri. Net sales and PAT of the company are expected to grow at a CAGR of 41% and 17% over 2009 to 2012E respectively. Symphony comfort systems Ltd has received ISO 9001:2008 for quality management system for its design and development, manufacture and after sales service of Air coolers and water heaters. Symphony Ltd has decided to set up a unit in DGDC, Surat SEZ at Sachin, near surat in Gujarat. During the quarter ended, the robust growth of revenue is increased by 41.59% Rs 985.55 million."

"Symphony disclosed a substantial rise in standalone net profit for the quarter ended March 2011. During the quarter, the profit of the company rose 43% to Rs 205.24 million from Rs 143.71 million in the same quarter last year. Net sales for the quarter for the quarter surged 42% to Rs 985.55 million, while total income for the quarter jumped 42% to Rs 996.12 million, when compared with the prior year period. It reported earnings of Rs 29.34 a share during the quarter, registering 43% growth over previous year period."

"At the current market price of Rs 1544.90, the stock is trading at 18.87 x FY11E and 15.52 x FY12E respectively. Earning per share (EPS) of the company for the earnings for FY11E and FY12E is seen at Rs 81.87and Rs 99.54 respectively. Net Sales and PAT of the company are expected to grow at a CAGR of 41% and 17% over 2009 to 2012E respectively. On the basis of EV/EBITDA, the stock trades at 12.38 x for FY11E and 10.23 x for FY12E. Price to Book Value of the stock is expected to be at 7.53 x and 5.07x respectively for FY11E and FY12E. We recommend 'BUY' in this particular scrip with a target price of Rs 1776 for Medium to Long term investment," says Firstcall research report.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management.Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

To read the full report click on the attachment