Firstcall Research's report on Man Industries (India)
The Company net profit stood to Rs. 177.10 million, an increase of 460.44% against Rs. 31.60 million in the corresponding quarter ending of previous year. The company achieved a turnover of Rs. 4053.00 million for the 1st quarter of the current year 2015-16 as against Rs. 2309.90 million in the corresponding quarter of the previous year, grew by 75.46%. Reported earnings per share of the company stood at Rs. 3.10 a share during the quarter, registering 460.44% increase over previous year period. Profit before interest, depreciation and tax is Rs. 482.80 million as against Rs. 217.80 million in the corresponding period of the previous year.
Outlook and ConclusionAt the current market price of Rs. 117.50, the stock P/E ratio is at 8.71 x FY16E and 7.23 x FY17E respectively.
Earning per share (EPS) of the company for the earnings for FY16E and FY17E is seen at Rs. 13.49 and Rs. 16.26 respectively.
Net Sales and PAT of the company are expected to grow at a CAGR of 26% and 119% over 2014 to 2017E respectively.
On the basis of EV/EBITDA, the stock trades at 4.56 x for FY16E and 3.91 x for FY17E.
Price to Book Value of the stock is expected to be at 1.20 x and 1.07 x for FY16E and FY17E respectively.
"We recommend ‘BUY’ in this particular scrip with a target price of Rs 135 for Medium to Long term investment", says Firstcall Research Report.
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