| Y/E Mar, Rs mn | FY11 | FY12 | FY13 | FY14E | FY15E | | Price | | | | | 906 | | Target | | | | | 811 | | Reco | | | | | NEU | | Net Sales | 36,758 | 48,508 | 63,909 | 75,826 | 86,588 | | Growth (%) | | 32 | 32 | 19 | 14 | | EBIDTA | 6,525 | 8,757 | 10,153 | 11,765 | 13,426 | | EBITDA Margin | | 18 | 16 | 16 | 16 | | Net Profit | 4,890 | 6,129 | 7,426 | 7,815 | 8,849 | | Growth (%) | | 25 | 21 | 5 | 13 | | EPS, Rs | 15 | 19 | 22 | 23 | 26 | | PER, x | 59.2 | 48.1 | 41.5 | 39.5 | 34.9 | | EV/EBIDTA, x | 50 | 37 | 32 | 28 | 24 | | P/BV, x | 17 | 11 | 9 | 8 | 7 | | ROE, % | 28 | 22 | 22 | 21 | 20 | | Total debt/Equity (%) | 103.3 | 44.4 | 48.1 | 41.6 | 30.9 |
|