Prabhudas Lilladher has maintained outperformer rarting on Voltamp Transformers with target price of Rs 1611, implying upside potential of 38%, in its May 12, 2008 report. "Voltamp Transformers reported topline of Rs 1.35 billion, a growth of 10% YoY, for Q4FY08. We expect this low growth to be a one quarter phenomena and expect the company to maintain a CAGR of 35% for the next two to three years. EBIDTA margin improved by 600bps YoY to 24.6%. The company reported a PAT of Rs 216 millio, a growth of 59% YoY. At the current market of Rs 1,167, the stock trades at 12.3x FY09E and 9.4x FY10E earnings of Rs 95.0 and Rs 123.9 We maintain Outperformer rating on the stock with a target price of Rs 1,611, an upside of 39%" according to Prabhudas Lilladher report.
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