Y/E Mar, Rs mn | FY11 | FY12 | FY13 | FY14E | FY15E | Price | | | | | 323 | Target | | | | | 310 | Reco | | | | | NEU | Net Sales | 30,088 | 30,405 | 36,996 | 44,217 | 47,118 | Growth (%) | | 1 | 22 | 20 | 7 | EBIDTA | 8,220 | 7,395 | 9,543 | 12,043 | 12,854 | EBITDA Margin | | 24 | 26 | 27 | 27 | Net Profit | 6,173 | 5,880 | 7,154 | 8,938 | 7,792 | Growth (%) | | -5 | 22 | 25 | -13 | EPS, Rs | 6 | 6 | 7 | 9 | 8 | PER, x | 51.1 | 53.2 | 43.0 | 34.6 | 39.7 | EV/EBIDTA, x | 37 | 41 | 32 | 25 | 24 | P/BV, x | 8 | 10 | 9 | 8 | 7 | ROE, % | 16 | 19 | 21 | 23 | 16 | Total debt/Equity (%) | -12.2 | -12.4 | -9.5 | -13.5 | -11.9 |
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