Firstcall Research's report on Greenply Industries
Greenply Industries Ltd is leader in the manufacturing and marketing of a wide range of interior infrastructure products in India, reported its financial results for the quarter ended 31st March, 2015. The company’s net profit Jumps to Rs. 455.64 million in 4th quarter of FY 2015 as against Rs. 368.31 million in the corresponding quarter ending of previous year, an increase of 23.71%. Revenue for the quarter stood at Rs. 4290.40 million from Rs. 5706.86 million, when compared with the prior year period. Reported earnings per share of the company stood at Rs. 18.88 a share during the quarter, registering 23.71% increase over previous year period. Profit before interest, depreciation and tax stood at Rs. 547.08 million as against Rs. 742.12 million in the corresponding period of the previous year.
OUTLOOK AND CONCLUSION
At the current market price of Rs.827.00, the stock P/E ratio is at 14.95 x FY16E and 13.29 x FY17E respectively.
Earning per share (EPS) of the company for the earnings for FY16E and FY17E is seen at Rs.55.30 and Rs.62.21 respectively.
PAT of the company is expected to grow at a CAGR of 7% over 2014 to 2017E.
On the basis of EV/EBITDA, the stock trades at 9.08 x for FY16E and 7.91 x for FY17E.
Price to Book Value of the stock is expected to be at 3.70 x and 3.34 x respectively for FY16E and FY17E.
"We recommend ‘BUY’ in this particular scrip with a target price of Rs 910 for Medium to Long term investment", says Firstcall Research Report.
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