Buy Astral Poly; target Rs 245: Firstcall Research
Firstcall Research has recommended buy rating on Astral Poly Technik with a target of Rs 245, in its September 06, 2013 report.
September 12, 2013 / 12:09 IST
Firstcall Research report on Astral Poly Technik:
Astral Poly Technik increasing its operational efficiency and bringing innovative products in the market thereby building sustainable competitiveness and edge over others and the company continuously increasing the production of value added products and exploring new areas for setting up its production facilities to enhance production volume in the market. International alliance with various companies helps the company to bring new and innovative products to India at competitive price and the new Joint Venture Partner; Ramco group Kenya has been inducted in Astral pipes Ltd to generate greater market demand for PVC and CPVC products in East Africa Market. We expect that the company surplus scenario is likely to continue, will keep its growth story in the coming quarters also. We recommend ‘BUY’ in this particular scrip with a target price of Rs 245 for Medium to Long term investment.At the current market price of Rs 227, the stock P/E ratio is at 17.94 x FY14E and 15.07 x FY15E respectively. Earning per share (EPS) of the company for the earnings for FY14E and FY15E is seen at Rs.12.65 and Rs.15.06 respectively. Net Sales and PAT of the company are expected to grow at a CAGR of 32% and 29% over 2012 to 2015E respectively. On the basis of EV/EBITDA, the stock trades at 10.66 x for FY14E and 8.94 x for FY15E. Price to Book Value of the stock is expected to be at 4.09 x and 3.22 x respectively for FY14E and FY15E. Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. 
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