Category: Broker Research


At the CMP of Rs 483/- the stock trades at 18.6x & 14.3x its estimated EPS of Rs25.9/- & Rs 33.7/- for FY18 & FY19 respectively. We advise investors with a long-term investment  horizon to ACCUMULATE the stock.
Feb. 14, 2018, 5:18 p.m.
Publisher: indianotes.com

We believe the company is well-placed in as the long-term growth trends remain intact. At the CMP of Rs367/- the stock trades at 33.4x& 27.8x its estimated EPS of Rs11.0x/- & Rs13.2/- for FY18 & FY19 respectively. We advise investors with a long-term investment horizon to HOLD the stock.
Feb. 14, 2018, 4:51 p.m.
Publisher: indianotes.com

With higher order inflow from PCGIL, strong entry barriers, efficient working capital management, increasing PVC Pipes capacity through asset light model and enhancing return ratios, augurs well for Skipper. We have valued the stock on the basis of P/E of 20x of FY20E EPS and recommend a BUY on the stock with a target price of Rs 367/- (~42% upside) in 18 months.
Feb. 14, 2018, 4:47 p.m.
Publisher: indianotes.com

We have valued the stock on the basis of P/E of 17x of FY20E earnings and recommend a BUY on the stock with a target price of Rs 1547/- (40% upside) in 18 months.
Feb. 14, 2018, 4:43 p.m.
Publisher: indianotes.com

Consolidated Revenue for the Q3 stood at Rs. 13746.70 mn from Rs. 12001.20 mn in the corresponding period of the previous year, up by 14.54%. Net Sales and PAT of the company are expected to grow at a CAGR of 9% and 14% over 2016 to 2019E, respectively. Overweight.
Feb. 14, 2018, 4:38 p.m.
Publisher: indianotes.com

Q3 was a very good quarter for watches division and top line growth was 4.7%. Jewellery division had a very high base for the quarter. The retail growth for the quarter of 15%. Net Sales and PAT of the company are expected to grow at a CAGR of 17% and 24% over 2016 to 2019E respectively.
Feb. 14, 2018, 4:36 p.m.
Publisher: indianotes.com

At higher band the issue is offered at 19.6x FY18E calculated EV/EBITDA. We like the company’s strong brand equity and consistent track record. We recommend investors to subscribe the issue for long term gains.
Feb. 14, 2018, 4:31 p.m.
Publisher: indianotes.com

On balance we retain our accumulate rating on the stock with target of Rs 3234 (previous target: Rs 3033) based on 28x FY19e earnings (forward peg: 1.4; currently at ~28x FY18e earnings) over a period of 6-9 months.
Feb. 14, 2018, 4:28 p.m.
Publisher: indianotes.com

We have valued the stock on the basis of P/E - method of relative valuation – of 30x on FY20E earnings. With the introduction of FY20E numbers we have revised our rating on the stock and recommends buy with the target price of Rs 3,912 (~18.5% upside), in 18 months.
Feb. 12, 2018, 4:59 p.m.
Publisher: indianotes.com

Going forward, with Kajaria’s focus on value added products, increasing contribution from GVT and PVT segment, and positive implications of GST, we expect the company to grow at a CAGR of ~13% during FY17-FY20E. Buy.
Feb. 12, 2018, 4:47 p.m.
Publisher: indianotes.com