| Y/E Mar, Rs mn | FY11 | FY12 | FY13 | FY14E | FY15E | | Price | | | | | 99 | | Target | | | | | 135 | | Reco | | | | | NEU | | Net Sales | 231,076 | 203,423 | 217,784 | 218,800 | 230,333 | | Growth (%) | | -12 | 7 | 0 | 5 | | EBIDTA | 90,815 | 64,504 | 71,616 | 72,850 | 81,473 | | EBITDA Margin | | 32 | 33 | 33 | 35 | | Net Profit | 14,936 | 9,882 | 7,459 | 11,370 | 13,534 | | Growth (%) | | -34 | -25 | 52 | 19 | | EPS, Rs | 7 | 5 | 4 | 6 | 7 | | PER, x | 13.7 | 20.8 | 27.5 | 18.1 | 15.2 | | EV/EBIDTA, x | 6 | 9 | 8 | 8 | 7 | | P/BV, x | 1 | 1 | 1 | 1 | 1 | | ROE, % | 4 | 3 | 3 | 4 | 5 | | Total debt/Equity (%) | 90.3 | 113.0 | 135.3 | 148.2 | 123.7 |
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