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Micro Inks has target of Rs 200: Chhabria
Sanjay Chhabria, Equity Analyst & Investment Consultant is of the view that Micro Inks has target of Rs 200 for the next 12-18 months. The company continues to maintain its leadership in the Indian market due to its superior product quality, innovative marketing strategy and strong and wide portfolio basket.
Sanjay Chhabria, Equity Analyst & Investment Consultant is of the view that Micro Inks has target of Rs 200 for the next 12-18 months.
Chabria told CNBC-TV18, "Micro Inks is owned 70% by Huber Group of Germany. It is a fully integrated global manufacturer of printing inks. As part of Huber Group Worldwide, the company is among the top five. Micro Ink is India largest manufacturer with a dominant market share of 30%. The company manufactures of liquid inks, adhesive, resins and enamels. The company continues to maintain its leadership in the Indian market due to its superior product quality, innovative marketing strategy and strong and wide portfolio basket."
He further added, "For the nine-months ended September 2008 the company posted a net profit of Rs 74 crore on net sales of Rs 1,025 crore. Based on these nine-month results for the calendar year 2008 the company could easily report an EPS of around Rs 35. So in terms of valuations at market cap of just Rs 250 crore, PE of less than 3, dividend yield of 6.3%, this MNC stock deserves to be in the long-term portfolio of investors. The target for the long-term is around Rs 200 for the next 12-18 months."
Disclosure: Analyst doesn't hold the above stock but have recommended to his clients.
