Firstcall Research's report on Multibase India
Multibase India’s net profit jumps to Rs. 22.15 million against Rs. 14.38 million in the corresponding quarter ending of previous year, an increase of 54.03%. Revenue for the quarter rose by 23.40% to Rs. 162.59 million from Rs. 131.76 million, when compared with the prior year period. Reported earnings per share of the company stood at Rs. 1.76 a share during the quarter as against Rs. 1.14 over previous year period. Profit before interest, depreciation and tax is Rs. 35.70 million as against Rs. 22.72 million in the corresponding period of the previous year.
OUTLOOK AND CONCLUSION
At the current market price of Rs. 291.30, the stock P/E ratio is at 47.69 x FY15E and 38.97 x FY16E respectively.
Earnings per share (EPS) of the company for the earnings for FY15E and FY16E are seen at Rs. 6.11 and Rs. 7.47 respectively.
Net Sales and PAT of the company are expected to grow at a CAGR of 17% and 28% over 2013 to 2016E respectively.
On the basis of EV/EBITDA, the stock trades at 28.40 x for FY15E and 22.73 x for FY16E.
Price to Book Value of the stock is expected to be at 9.09 x and 7.62 x respectively for FY15E and FY16E.
"We recommend ‘BUY’ in this particular scrip with a target price of Rs 335 for Medium to Long term investment", says Firstcall Research Report.
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