Y/E Mar, Rs mn | FY11 | FY12 | FY13 | FY14E | FY15E | Price | | | | | 208 | Target | | | | | 262 | Reco | | | | | BUY | Net Sales | 73,902 | 85,312 | 97,395 | 91,180 | 231,471 | Growth (%) | | 15.4 | 14.2 | -6.4 | 153.9 | EBIDTA | 18,230 | 19,064 | 24,179 | 15,689 | 43,739 | EBITDA Margin | | 22 | 25 | 17 | 19 | Net Profit | 12,364 | 12,520 | 15,723 | 12,537 | 21,587 | Growth (%) | | 1 | 26 | -20 | 72 | EPS, Rs | 8 | 8 | 10 | 8 | 11 | PER, x | 25.6 | 25.4 | 20.3 | 25.6 | 19.0 | EV/EBIDTA, x | 21 | 20 | 15 | 24 | 9 | P/BV, x | 4.3 | 3.9 | 3.6 | 3.4 | 2.2 | ROE, % | 16.9 | 15.5 | 17.9 | 13.3 | 11.5 | Total debt/Equity (%) | -31.5 | -34.9 | -43.2 | -42.0 | -9.7 |
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