| Y/E Mar, Rs mn | FY11 | FY12 | FY13 | FY14E | FY15E | | Price | | | | | 267 | | Target | | | | | 251 | | Reco | | | | | NEU | | Net Sales | 28,817 | 36,156 | 42,250 | 47,197 | 55,179 | | Growth (%) | | 25 | 17 | 12 | 17 | | EBIDTA | 3,373 | 4,557 | 5,357 | 6,500 | 7,421 | | EBITDA Margin | | 13 | 13 | 14 | 13 | | Net Profit | 2,421 | 3,054 | 3,714 | 4,787 | 4,978 | | Growth (%) | | 26 | 22 | 29 | 4 | | EPS, Rs | 19 | 24 | 30 | 38 | 40 | | PER, x | 13.7 | 10.9 | 9.0 | 6.9 | 6.7 | | EV/EBIDTA, x | 10 | 7 | 6 | 4 | 4 | | P/BV, x | 2 | 2 | 2 | 2 | 1 | | ROE, % | 18 | 19 | 20 | 22 | 21 | | Total debt/Equity (%) | 6.3 | -2.4 | -7.4 | -22.1 | -28.6 |
|