Hold Asian Granito; target of Rs 41: Firstcall Research

Written By Unknown on Jumat, 03 Januari 2014 | 18.00

Firstcall Research report on Asian Granito India

"Asian Granito India achieved a turnover of Rs. 1880.86 million for the 2nd quarter of the current year 2013- 14 as against Rs. 1768.94 millions in the corresponding quarter of the previous year. The company has reported an EBITDA of Rs. 135.45 millions and a net profit of Rs. 28.81 million against Rs. 55.22 million reported respectively in the corresponding quarter of the previous year. The company has reported an EPS of Rs. 1.30 for the 2nd quarter as against an EPS of Rs. 2.49 in the corresponding quarter of the previous year."

"At the current market price of Rs. 36.15, the stock P/E ratio is at 5.72 x FY14E and 4.92 x FY15E respectively. Earning per share (EPS) of the company for the earnings for FY14E and FY15E is seen at Rs.6.32 and Rs.7.35 respectively. Net Sales is expected to grow at a CAGR of 8 percent over 2012 to 2015E respectively. On the basis of EV/EBITDA, the stock trades at 1.17 x for FY14E and 1.10 x for FY15E. Price to Book Value of the stock is expected to be at 0.29 x and 0.27 x respectively for FY14E and FY15E. We recommend 'HOLD' in this particular scrip with a target price of Rs 41 for Medium to Long term investment," says Firstcall Research Report.

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