Y/E Mar, Rs mn | FY11 | FY12 | FY13 | FY14E | FY15E | Price | | | | | 1337 | Target | | | | | 1200 | Reco | | | | | NEU | Net Sales | 7,758 | 10,003 | 12,945 | 16,692 | 18,825 | Growth (%) | | 29 | 29 | 29 | 13 | EBIDTA | 1,583 | 2,324 | 3,352 | 4,303 | 4,677 | EBITDA Margin | | 23 | 26 | 26 | 25 | Net Profit | 1,394 | 1,418 | 1,876 | 2,493 | 3,114 | Growth (%) | | 2 | 32 | 33 | 25 | EPS, Rs | 35 | 35 | 47 | 62 | 78 | PER, x | 38.4 | 37.7 | 28.5 | 21.4 | 17.2 | EV/EBIDTA, x | 33 | 22 | 16 | 12 | 11 | P/BV, x | 7 | 6 | 5 | 4 | 4 | ROE, % | 19 | 17 | 18 | 20 | 21 | Total debt/Equity (%) | -13.4 | -16.4 | -5.5 | -7.8 | -7.5 |
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