| Y/E Mar, Rs mn | FY11 | FY12 | FY13 | FY14E | FY15E | | Price | | | | | 566 | | Target | | | | | 608 | | Reco | | | | | NEU | | Net Sales | 310,542 | 318,747 | 374,256 | 434,269 | 476,274 | | Growth (%) | | 3 | 17 | 16 | 10 | | EBIDTA | 63,934 | 68,679 | 79,829 | 99,942 | 110,582 | | EBITDA Margin | | 22 | 21 | 23 | 23 | | Net Profit | 52,977 | 52,311 | 61,347 | 77,966 | 88,971 | | Growth (%) | | -1 | 17 | 27 | 14 | | EPS, Rs | 22 | 21 | 25 | 32 | 36 | | PER, x | 26.2 | 26.6 | 22.7 | 17.9 | 15.7 | | EV/EBIDTA, x | 22 | 20 | 17 | 13 | 12 | | P/BV, x | 6 | 5 | 5 | 4 | 3 | | ROE, % | 22 | 18 | 22 | 23 | 22 | | Total debt/Equity (%) | 1.0 | -3.2 | -4.2 | -15.3 | -17.3 |
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