Y/E Mar, Rs mn | FY11 | FY12 | FY13 | FY14E | FY15E | Price | | | | | 2374 | Target | | | | | 2160 | Reco | | | | | NEU | Net Sales | 159,981 | 188,802 | 194,890 | 197,176 | 218,108 | Growth (%) | | 18 | 3 | 1 | 11 | EBIDTA | 32,176 | 37,199 | 36,381 | 41,057 | 44,476 | EBITDA Margin | | 20 | 19 | 21 | 20 | Net Profit | 33,397 | 30,040 | 30,436 | 32,433 | 34,364 | Growth (%) | | -10 | 1 | 7 | 6 | EPS, Rs | 115 | 104 | 105 | 112 | 119 | PER, x | 20.6 | 22.9 | 22.6 | 21.2 | 20.0 | EV/EBIDTA, x | 21 | 18 | 19 | 17 | 15 | P/BV, x | 14 | 11 | 9 | 7 | 6 | ROE, % | 68 | 50 | 39 | 34 | 30 | Total debt/Equity (%) | -4.7 | -25.3 | -6.0 | -4.6 | -5.2 |
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