Sintex Industries has target of Rs 250: Vikas Sethi

Sintex Industries has target of Rs 250, says Vikas Sethi, MD, Sethi Finmart.

Sethi told CNBC-TV18, "Sintex Industries recently came out with impressive set of numbers with its revenues having gone up by around 22% year on year and net profits also going up from around Rs 79 crore odd to Rs 95 crore. The company was also able to improve on its EBITDA margins by 200 bps over last year and it has a strong order book of around Rs 3,000 crore, which provides adequate revenue visibility and the reason I like the stock is the attractive valuation at which it currently trades at."
He further added, "I expect the company to report an EPS of Rs 18 for FY12 so at the current market price of around Rs 180 it quotes at about 10 times FY12 earnings, which looks attractive and my target for the stock would be around Rs 250, which would mean a return of 40% from the current levels in about 12 months."