| Y/E Mar, Rs mn | FY11 | FY12 | FY13 | FY14E | FY15E | | Price | | | | | 30 | | Target | | | | | 50 | | Reco | | | | | BUY | | Net Sales | 5,372 | 6,380 | 7,253 | 8,970 | 10,361 | | Growth (%) | | 19 | 14 | 24 | 16 | | EBIDTA | 1,206 | 1,399 | 1,494 | 1,569 | 2,207 | | EBITDA Margin | | 22 | 21 | 17 | 21 | | Net Profit | 867 | 831 | 472 | 241 | 626 | | Growth (%) | | -4 | -43 | -49 | 160 | | EPS, Rs | 7 | 7 | 4 | 2 | 5 | | PER, x | 4.2 | 4.2 | 7.3 | 15.2 | 5.9 | | EV/EBIDTA, x | 2 | 1 | 1 | 1 | 0 | | P/BV, x | 0 | 0 | 0 | 0 | 0 | | ROE, % | 10 | 9 | 5 | 2 | 6 | | Total debt/Equity (%) | -9.8 | -21.1 | -16.7 | -19.0 | -26.2 |
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