Buy UB Engineering: Nirmal Bang

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Buy UB Engineering: Nirmal Bang

Nirmal Bang has recommended a buy rating on UB Engineering. The research firm expects the company to achieve Net Sales of Rs 491.37 crore and Rs 641.38 crore, EBIDTA of Rs 37.02 crore and Rs 54.58 crore, Adj. PAT of Rs 22.73 crore and Rs 32.49 crore for FY 09 and FY 10 respectively.

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Nirmal Bang has recommended a buy rating on UB Engineering in its November 5, 2008 research report. "We expect the company to achieve Net Sales of Rs 491.37 crore and Rs 641.38 crore, EBIDTA of Rs 37.02 crore and Rs 54.58 crore, Adj. PAT of Rs 22.73 crore and Rs 32.49 crore for FY 09 and FY 10 respectively. The stock trades at Price Earning Multiple of 3.30x & 2.21x at the projected EPS of Rs 13.31 & 19.03 for FY 09 & FY 10 respectively. We recommend a BUY on the stock," says Nirmal Bang's research report.

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