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You are here : IndiaNotes >> Research & Analysis >> Companies >> La Opala RG Ltd. >> Research

Buy La Opala: The future for kitchenware retailing holds immense potential

Firstcall India Equity | 11 Feb, 2016  | Follow Author | Add to my Favourites 
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Highlights:


- La Opala RG Limited was established in the year 1987 in India. The Company is engaged in the manufacture and marketing of opal glass tableware and 24% lead crystalware products within and outside India.


- Net profit of the company rose by 45.53% y-o-y at Rs. 202.19 million in Q3 FY16 compared to Rs. 138.93 million in Q3 FY15.


- During the quarter, net sales registered 27.44% increase and stood at Rs. 804.83 million against Rs. 631.56 million in the corresponding quarter last year. In Q3 FY16, EBITDA has increased by 39.95% at Rs. 292.99 million from Rs. 209.35 million in the corresponding quarter of previous year.


- Profit before tax (PBT) at Rs. 268.02 million in Q3 FY16 compared to Rs. 184.89 million in Q3 FY15, registered a growth of 44.96% y-o-y.


- During the quarter, Other income increased by 113.51% y-o-y at Rs. 3.16 million as against Rs. 1.48 million in the corresponding quarter of the previous year.


- Net sales for the nine moths ended of FY16 stood at Rs. 1954.07 million, rose by 20.63% as compared to Rs. 1619.89 million for the nine months ended of FY15.


- In 9M FY16, the company’s net profit grew by 43.11% of Rs. 444.96 million as compared to Rs. 310.92 million in 9M FY15.


- Net Sales and PAT of the company are expected to grow at a CAGR of 19% and 34% over 2014 to 2017E respectively.


Valuation:
At the current market price of Rs. 600.60, the stock P/E ratio is at 55.09 x FY16E and 45.86 X FY17E respectively. Price to Book Value ofthe stock is expected to be at 13.99 x and 11.34 X respectively for FY16E and FY17E. We recommend ‘BUY’ in this particular scrip with a target price of Rs.660.00 for Medium to Long term investment.


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About Firstcall India Equity

Firstcall India Equity of Firstcall India Equity Advisors Pvt. Limited (FIEA), is a leading financial services provider in India and a SEBI Registered Category-I Merchant Banker. FIEA is a culmination of a credible Equity Research Capabilities, Long Standing Relationship with leading FIIs, DFIs, MFs, Overseas Pension Funds etc. The company’s research caters to the needs of the largest news wire and media houses of the world namely Reuters, Thomson, Capital IQ, Themarkets.com, Emerging Markets Euro money Publications-UK. The Company is among the major players in the Debt and Equity markets.


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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.




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