Firstcall Research's report on CCL Products India
"The company’s net profit jumps to Rs. 215.26 million against Rs. 178.33 million in the corresponding quarter ending of previous year, an increase of 20.71%. Revenue for the quarter decreased by 1.01% to Rs. 2164.09 million from Rs. 2186.26 million, when compared with the prior year period. Reported earnings per share of the company stood at Rs. 1.62 a share during the quarter as against Rs. 1.34 over previous year period. Profit before interest, depreciation and tax is Rs. 416.47 million as against Rs. 423.68 million in the corresponding period of the previous year."
OUTLOOK AND CONCLUSION
At the current market price of Rs. 180.20, the stock P/E ratio is at 22.99 x FY16E and 20.41 x FY17E respectively.
Earnings per share (EPS) of the company for the earnings for FY16E and FY17E are seen at Rs. 7.84 and Rs. 8.83 respectively.
Net Sales and PAT of the company are expected to grow at a CAGR of 13% and 25% over 2014 to 2017E respectively.
On the basis of EV/EBITDA, the stock trades at 13.21 x for FY16E and 11.86 x for FY17E.
Price to Book Value of the stock is expected to be at 4.75 x and 4.06 x respectively for FY16E and FY17E.
"We recommend ‘BUY’ in this particular scrip with a target price of Rs 205 for Medium to Long term investment", says Firstcall Research Report.
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