Crest Animation quoting at very high PE multiple

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Crest Animation quoting at very high PE multiple

VVLN Shastri of Firstcall India Equity Advisor is of the view that Crest Animation is substantially quoting at a very high multiple which it doesn’t deserve. So he is not buoyant about the stock.

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Excerpts from Your Stocks on CNBC-TV18 Watch the full show » ALSO READ See what other Experts & Brokerages are saying about Crest Animation See messages about Crest Animation Crest Animation BSE | NSE 25/05/12 Are Mutual Funds betting on Crest Animation?

VVLN Shastri of Firstcall India Equity Advisor is of the view that Crest Animation is substantially quoting at a very high multiple which it doesn't deserve. So he is not buoyant about the stock.

Shastri told CNBC-TV18, "Animation is a very good industry. In fact that was proved by Silverline Technologies release of Hanuman in India which has made a gross profit of almost Rs 30 crore. But I think all the companies are not going in that way to catchhold of the market and make good returns. But as far as Crest Animation is concerned the company is not in a position to show any kind of turnaround, in fact in the recent past it did a capital restructuring by reducing its losses against the share premium reserve that it has in its balance sheet."

He further added, "All in all put together I feel the company is showing single digit profit numbers on annualised basis and on that basis if you look at it the company is substantially quoting at a very high multiple which it doesn't deserve. So under these circumstances I am not buoyant about Crest Animation."

Disclosure: Some of our clients maybe holding the above stock but I do not hold the same.