| Y/E Mar, Rs mn | FY11 | FY12 | FY13 | FY14E | FY15E | | Price | | | | | 140 | | Target | | | | | 172 | | Reco | | | | | NEU | | Net Sales | 718,008 | 803,930 | 797,055 | 872,279 | 1,002,075 | | Growth (%) | | 12 | -1 | 9 | 15 | | EBIDTA | 79,287 | 81,840 | 78,368 | 82,863 | 111,100 | | EBITDA Margin | | 10 | 10 | 9 | 11 | | Net Profit | 24,564 | 33,969 | 30,269 | 25,710 | 27,052 | | Growth (%) | | 38 | -11 | -15 | 5 | | EPS, Rs | 13 | 18 | 16 | 12 | 13 | | PER, x | 10.9 | 7.9 | 8.8 | 11.2 | 10.7 | | EV/EBIDTA, x | 7 | 8 | 10 | 11 | 8 | | P/BV, x | 1 | 1 | 1 | 1 | 1 | | ROE, % | 8 | 11 | 9 | 6 | 6 | | Total debt/Equity (%) | 86.6 | 118.1 | 150.4 | 143.6 | 132.1 |
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