| Y/E Mar, Rs mn | FY11 | FY12 | FY13 | FY14E | FY15E | | Price | | | | | 619 | | Target | | | | | 733 | | Reco | | | | | BUY | | Net Sales | 9,523 | 13,130 | 16,120 | 18,400 | 22,051 | | Growth (%) | | 38 | 23 | 14 | 20 | | EBIDTA | 1,479 | 2,062 | 2,446 | 2,807 | 3,462 | | EBITDA Margin | | 16 | 15 | 15 | 16 | | Net Profit | 606 | 809 | 1,045 | 1,243 | 1,588 | | Growth (%) | | 33 | 29 | 19 | 28 | | EPS, Rs | 8 | 11 | 14 | 16 | 21 | | PER, x | 75.1 | 56.3 | 43.6 | 37.7 | 29.5 | | EV/EBIDTA, x | 34 | 24 | 20 | 17 | 14 | | P/BV, x | 20 | 16 | 13 | 9 | 7 | | ROE, % | 27 | 29 | 29 | 23 | 25 | | Total debt/Equity (%) | 127.7 | 70.5 | 71.3 | 33.3 | 42.8 |
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