Firstcall Research report on Orbit Exports
"Orbit Exports engages in the manufacture and export of novelty fabrics in India and exports its products to south East Asian countries, the Middle East, Europe, and North America, The Company has reported its financial results for the quarter ended 30th Sept, 2014. The Company has achieved a turnover of Rs. 447.32 million for the 2nd quarter of the current year 2014-15 as against Rs. 377.44 million in the corresponding quarter of the previous year. The company has reported an EBITDA of Rs. 131.00 million an increased by 10.77% over the prior period of previous year. In Q2 FY15, net profit is at Rs. 84.18 million against Rs. 83.97 million in Q2 FY14. The company has reported an EPS of Rs. 5.89 for the 2nd quarter of current year as against an EPS of Rs. 6.31 in the corresponding quarter of the previous year."
OUTLOOK AND CONCLUSION
At the current market price of Rs. 412.95, the stock P/E ratio is at 23.61 x FY15E and 19.04 x FY16E respectively.
Earning per share (EPS) of the company for the earnings for FY15E and FY16E is seen at Rs.17.49 and Rs.21.69 respectively.
Net Sales and PAT of the company are expected to grow at a CAGR of 18% and 29% over 2013 to 2016E respectively.
On the basis of EV/EBITDA, the stock trades at 14.67 x for FY15E and 11.92 x for FY16E.
Price to Book Value of the stock is expected to be at 6.19 x and 4.67 x respectively for FY15E and FY16E.
"We expect that the company surplus scenario is likely to continue for the next three years, will keep its growth story in the coming quarters also. We recommend ‘BUY’ in this particular scrip with a target price of Rs 450 for Medium to Long term investment", says Firstcall Research Report.
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