Firstcall Research's report on Liberty Shoes
"Liberty Shoes achieved a turnover of Rs. 1446.07 million for the 3rd quarter of the financial year 2015 as against Rs. 1104.60 million in the corresponding quarter of the previous year. The company has reported an EBITDA of Rs. 121.35 million in Q3 FY15. Net profit stood at Rs. 41.70 million in 3rd quarter of FY15, an increase of 28.74% y-o-y against Rs. 32.39 million in the corresponding quarter of the previous year. The company has reported an EPS of Rs. 2.45 for the 3rd quarter as against an EPS of Rs. 1.90 in the corresponding quarter of the previous year.'
OUTLOOK AND CONCLUSION
At the current market price of Rs. 267.95, the stock P/E ratio is at 29.35 x FY15E and 25.92 x FY16E respectively.
Earning per share (EPS) of the company for the earnings for FY15E and FY16E is seen at Rs.9.13 and Rs.10.34 respectively.
Net Sales and PAT of the company are expected to grow at a CAGR of 24% and 35% over 2013 to 2016E respectively.
On the basis of EV/EBITDA, the stock trades at 11.90 x for FY15E and 10.78 x for FY16E.
Price to Book Value of the stock is expected to be at 2.97 x and 2.66 x respectively for FY15E and FY16E.
"We recommend ‘BUY’ in this particular scrip with a target price of Rs 300 for Medium to Long term investment", says Firstcall Research Report.
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