The Company revenue for the quarter rose by 3.07% to Rs. 1083.92 million from Rs. 1051.68 million, when compared with the prior year period. Net profit decreased by 2.21% to Rs. 129.01 million from Rs. 131.92 million, when compared with the prior year period. Reported earnings per share of the company stood at Rs. 1.07 a share during the quarter as against Rs. 1.10 over previous year period. Profit before interest, depreciation and tax is Rs. 206.76 millions as against Rs. 207.30 million in the corresponding period of the previous year.
OUTLOOK AND CONCLUSIONAt the current market price of Rs. 89.10, the stock P/E ratio is at 18.29 x FY16E and 16.72 x FY17E respectively.
Earnings per share (EPS) of the company for the earnings for FY16E and FY17E are seen at Rs. 4.87 and Rs. 5.33 respectively.
Net Sales and PAT of the company are expected to grow at a CAGR of 11% and 12% over 2014 to 2017E respectively.
On the basis of EV/EBITDA, the stock trades at 11.01 x for FY16E and 9.94 x for FY17E.
Price to Book Value of the stock is expected to be at 5.32 x and 4.55 x for FY16E and FY17E respectively.
"We recommend ‘BUY’ in this particular scrip with a target price of Rs 102 for Medium to Long term investment", says Firstcall Research Report.
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