Firstcall Research report on JBM Auto
"JBM Auto has achieved a turnover of Rs. 4031.56 million for the 2nd quarter of the current year 2014-15 as against Rs. 3205.49 million in the corresponding quarter of the previous year. EBITDA of Rs. 453.03 million in Q2 FY15 and increase of 21.15% against the corresponding period of last year. In Q2 FY15, net profit of Rs. 151.06 million against Rs. 105.72 million in the corresponding quarter of the previous year. The company has reported an EPS of Rs. 14.81 for the 2nd quarter as against an EPS of Rs. 10.37 in the corresponding quarter of the previous year. The Company has fixed Record Date as October 9, 2014 for the purpose of sub-division of every 1 equity share of the face value of Rs. 10/- each into 2 equity shares of Rs. 5/- each."
OUTLOOK AND CONCLUSION
At the current market price of Rs. 187.65, the stock P/E ratio is at 9.44 x FY15E and 7.64 x FY16E respectively.
Earning per share (EPS) of the company for the earnings for FY15E and FY16E is seen at Rs.19.88 and Rs.24.56 respectively.
Net Sales and PAT of the company are expected to grow at a CAGR of 18% and 42% over 2013 to 2016E respectively.
On the basis of EV/EBITDA, the stock trades at 5.20 x for FY15E and 4.54 x for FY16E.
Price to Book Value of the stock is expected to be at 2.31 x and 1.78 x respectively for FY15E and FY16E.
"We recommend ‘BUY’ in this particular scrip with a target price of Rs 216 for Medium to Long term investment", says Firstcall Research Report.
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