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Firstcall Research puts a “buy” call on Emami with target of Rs 526
The Research firm has given the following outlook and conclusion
* At the current market price of Rs.461.30, the stock is trading at 24.12 x FY13E and 21.31 x FY14E respectively.
* Earning per share (EPS) of the company for the earnings for FY13E and FY14E is seen at Rs.19.12 and Rs.21.64 respectively.
* Net Sales and PAT of the company are expected to grow at a CAGR of 13% and 13% over 2011 to 2014E respectively.
* On the basis of EV/EBITDA, the stock trades at 14.53 x for FY13E and 13.16 x for FY14E.
* Price to Book Value of the stock is expected to be at 7.01 x and 5.27 x respectively for FY13E and FY14E.
* We expect that the company will keep its growth story in the coming quarters also.
We recommend ‘BUY’ in this particular scrip with a target price of Rs.526.00 for medium to long term investment.
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