| Y/E Mar, Rs mn | FY11 | FY12 | FY13 | FY14E | FY15E | | Price | | | | | 8417 | | Target | | | | | 6347 | | Reco | | | | | BUY | | Net Sales | 35,119 | 58,981 | 55,671 | 61,817 | 73,661 | | Growth (%) | | 68 | -6 | 15 | 14 | | EBIDTA | 8,856 | 16,458 | 15,378 | 14,288 | 20,537 | | EBITDA Margin | | 28 | 28 | 23 | 27 | | Net Profit | 2,097 | 6,185 | 10,039 | 7,102 | 10,178 | | Growth (%) | | 195 | 62 | -29 | 43 | | EPS, Rs | 60 | 178 | 288 | 204 | 292 | | PER, x | 139.8 | 47.4 | 29.2 | 41.3 | 28.8 | | EV/EBIDTA, x | 33 | 17 | 19 | 20 | 15 | | P/BV, x | 15 | 11 | 8 | 7 | 5 | | ROE, % | 11 | 23 | 26 | 16 | 19 | | Total debt/Equity (%) | 16.5 | -40.9 | -20.2 | -14.7 | -15.5 |
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