| Y/E Mar, Rs mn | FY11 | FY12 | FY13 | FY14E | FY15E | | Price | | | | | 1452 | | Target | | | | | 1850 | | Reco | | | | | BUY | | Net Sales | 434,958 | 531,707 | 516,110 | 565,990 | 621,239 | | Growth (%) | | 22 | -3 | 10 | 10 | | EBIDTA | 56,023 | 62,828 | 54,699 | 66,671 | 70,459 | | EBITDA Margin | | 12 | 11 | 12 | 11 | | Net Profit | 36,052 | 44,017 | 41,334 | 49,047 | 48,210 | | Growth (%) | | 22 | -6 | 19 | -2 | | EPS, Rs | 47 | 47 | 45 | 53 | 52 | | PER, x | 30.6 | 30.6 | 32.6 | 27.4 | 28.1 | | EV/EBIDTA, x | 24 | 22 | 25 | 21 | 20 | | P/BV, x | 5 | 5 | 5 | 4 | 4 | | ROE, % | 17 | 17 | 14 | 15 | 13 | | Total debt/Equity (%) | -8.6 | 4.8 | -0.1 | 16.7 | 11.2 |
|