Y/E Mar, Rs mn | FY11 | FY12 | FY13 | FY14E | FY15E | Price | | | | | 1506 | Target | | | | | 1820 | Reco | | | | | BUY | Net Sales | 210,312 | 257,694 | 329,180 | 363,108 | 412,764 | Growth (%) | | 23 | 28 | 10 | 14 | EBIDTA | 39,396 | 57,539 | 86,660 | 89,666 | 100,796 | EBITDA Margin | | 22 | 26 | 25 | 24 | Net Profit | 24,405 | 40,142 | 63,700 | 71,852 | 79,810 | Growth (%) | | 64 | 59 | 13 | 11 | EPS, Rs | 35 | 57 | 90 | 102 | 113 | PER, x | 43.2 | 26.4 | 16.7 | 14.8 | 13.3 | EV/EBIDTA, x | 28 | 19 | 12 | 12 | 11 | P/BV, x | 10 | 7 | 5 | 4 | 4 | ROE, % | 23 | 28 | 32 | 30 | 27 | Total debt/Equity (%) | 24.1 | 10.3 | 5.9 | 2.7 | -1.0 |
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