BIG BOSS
VIKAS PARSHURAM SAMWATSARE
DATED:11/04/2014
Buy Elantas Beck India Ltd For Target Rs.658.00 * The company’s net profit jumps to Rs. 67.79 million against Rs. 64.42 million in the corresponding quarter ending of previous year, an increase of 5.23%.
* Revenue for the quarter rose by 12.49% to Rs. 764.37 million from Rs. 679.51 million, when compared with the prior year period.
* Reported earnings per share of the company stood at Rs. 8.55 a share during the quarter, registering 5.23% increase over previous year period.
* Profit before interest, depreciation and tax is Rs. 109.15 million as against Rs. 99.98 million in the corresponding period of the previous year.
* For 9M period ended of FY14, net sales registered a growth of 10% and stood at Rs. 2284.15 million as compared to Rs. 2070.31 million in the corresponding period of previous year.
* Elantas Beck India has recommend payment of dividend of Rs. 55/- per equity share of Rs. 10/- each, for the year 2013.
* Net Sales and PAT of the company are expected to grow at a CAGR of 9% and 10% over 2011 to 2014E respectively.
FINANCIAL HIGHLIGHTS (STANDALONE)
Results updates- Q4 CY13,
ELANTAS Beck is the first Indian manufacturer of insulation and resin products to receive the approbation of product certifications from the Underwriters Laboratory, USA, reported its financial results for the quarter and year ended 31st Dec, 2013.
The company’s net profit jumps to Rs. 67.79 million against Rs. 64.42 million in the corresponding quarter ending of previous year, an increase of 5.23%. Revenue for the quarter rose by 12.49% to Rs. 764.37 million from Rs. 679.51 million, when compared with the prior year period. Reported earnings per share of the company stood at Rs. 8.55 a share during the quarter, registering 5.23% increase over previous year period. Profit before interest, depreciation and tax is Rs. 109.15 million as against Rs. 99.98 million in the corresponding period of the previous year.
Outlook and Conclusion
* At the current market price of Rs.598.00, the stock P/E ratio is at 13.76 x CY14E and 12.97 x CY15E respectively.
* Earning per share (EPS) of the company for the earnings for CY14E and CY15E is seen at Rs.43.45 and Rs.46.11 respectively.
* Net Sales and PAT of the company are expected to grow at a CAGR of 9% and 10% over 2012 to 2015E respectively.
* On the basis of EV/EBITDA, the stock trades at 8.41 x for CY14E and 7.90 x for CY15E.
* Price to Book Value of the stock is expected to be at 3.32 x and 2.64 x respectively for CY14E and CY15E.
* We recommend ‘BUY’ in this particular scrip with a target price of Rs.658.00 for Medium to Long term investment.
Buy State Bank of India For Target 2200/2348The stock after making a life time high of 3380 in November, 2010 turned its direction and continued its decline until it made a low 1526 in D ecember, 2011. Since July 2013 it was trading in the band of 1907 and 1440, now it has provided brea kout from the same which has resulted in the classic double bottom chart pattern. Prices have sp ent over a nine months time in the pattern area which makes it a reliable one. Distance betwee n the neck and the support line is of 467 points after adding the same to breakout point we g et the target price of 2374. The stock is expected to face some hurdle at the primary downtren d line which is pegged at 2080 on sustainable close above the same sharp upside can b e seen up to 2400 levels.
The weekly and monthly MACD has come into the buy m ode and the bullish head and shoulders chart pattern visible on the charts in the weekly M ACD is another weighted evidence of bullishness in the counter. Strong volume participation during up days is also increasing the chance of bullishness in the future
Buy State Bank of India @ cmp: 1950 for the 1st target of 2200 2nd target of 2348 with a stop loss of 1788
Risk: Reward = 1: 2
Risk: 1950 – 1788 = 162
Reward: 2274 – 1950 = 324
Buy Jubilant FoodWorks Ltd For Target Rs.1166.00Jubilant FoodWorks Limited (JFL) is India’s largest food service company, with a network of 700 Domino’s Pizza restaurants (as of 19 March 2014) across 142 cities.
* Revenue for the quarter rose by 18.55% to Rs. 4565.93 mn from Rs. 3851.49 mn, when compared with the prior year period.
* The company’s net profit declines to Rs. 335.99 mn against Rs. 377.01 mn in the corresponding quarter ending of previous year, a decrease of 10.88%.
* EBITDA in Q3 FY14 was at Rs. 674.0 mn and Rs. 1,994 mn in 9M FY14.
* During the quarter, the Company has further invested an amount of Rs. 52.6 mn in its Wholly Owned Subsidiary “Jubilant FoodWorks Lanka (Private) Ltd” and its investment in the subsidiary as at 31st December, 2013 is Rs. 326.61 mn.
* Average Online Ordering contribution to delivery sales in Q3 FY14 was around 16% during the quarter.
* JFL has opened 47 new restaurants in Q3 FY14.
* JFL revised target for launch of new Domino’s Pizza restaurants to 145 from prior target of 135, of which 103 have been successfully open YTD.
* Domino’s Pizza has inaugurated its 700th restaurant at Huda City Centre Metro Station, Sector-29, Gurgaon.
* Correspondingly 20 new Dunkin’ Donuts restaurants expected to be launched in FY14. JFL has opened 11 thus far.
* Net Sales and PAT of the company are expected to grow at a CAGR of 25% and 14% over 2012 to 2015E respectively.
QUARTERLY HIGHLIGHTS (STANDALONE)
Results updates- Q3 FY14,
Jubilant FoodWorks Limited is part of Jubilant Bhartia group and India’s largest food service company, with a network of 700 Domino’s Pizza restaurants (as of 19 March 2014) across 142 cities, has reported its financial results for the quarter ended 31 December, 2013.
The company’s net profit declines to Rs. 335.99 million against Rs. 377.01 million in the corresponding quarter ending of previous year, a decrease of 10.88%. Revenue for the quarter rose by 18.55% to Rs. 4565.93 million from Rs. 3851.49 million, when compared with the prior year period. Reported earnings per share of the company stood at Rs. 5.14 a share during the quarter, registering 11.19% decrease over previous year period. Profit before interest, depreciation and tax is Rs. 697.56 million as against Rs. 691.51 million in the corresponding period of the previous year.
OUTLOOK AND CONCLUSION
* At the current market price of Rs. 1060.00, the stock P/E ratio is at 50.62 x FY14E and 44.51 x FY15E respectively.
* Earning per share (EPS) of the company for the earnings for FY14E and FY15E is seen at Rs.20.94 and Rs.23.81 respectively.
* Net Sales and PAT of the company are expected to grow at a CAGR of 25% and 14% over 2012 to 2015E respectively.
* On the basis of EV/EBITDA, the stock trades at 24.50 x for FY14E and 21.16 x for FY15E.
* Price to Book Value of the stock is expected to be at 12.84 x and 10.92 x respectively for FY14E and FY15E.
* We recommend ‘BUY’ in this particular scrip with a target price of Rs.1166.00 for Medium to Long term investment.
No comments:
Post a Comment