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You are here : IndiaNotes >> Research & Analysis >> Companies >> Huhtamaki PPL Ltd. >> Research

Huhtamaki PPL Q3CY16: Fundamental Analysis - Firstcall India Equity

Firstcall India Equity | 23 Dec, 2016  | Follow Author | Add to my Favourites 
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SYNOPSIS

  • Huhtamaki PPL Ltd (HPPL) is a part of Huhtamaki Oyj, Finland and is known for packaging since the company was founded in 1935.
  • The company’s net profit stood at Rs. 167.90 mn against Rs. 159.70 mn in the corresponding quarter ending of previous year, an increase of 5.13%.
  • Revenue for the quarter rose by 6.76% to Rs. 5574.70 mn from Rs. 5221.90 mn, when compared with the prior year period.
  • During the quarter, EBIDTA is Rs. 599.40 mn as against Rs. 553.30 mn in the corresponding period of the previous year, up by 8.33%.
  • During Q3 CY16, Profit before tax up by 38.26% to Rs. 290.90 mn from Rs. 210.40 mn in Q3 CY15.
  • EPS of the company stood at Rs. 2.31 a share during the quarter, as against Rs. 2.20 over previous year period.
  • Huhtamaki PPL Ltd is setting up a new Flexible Packaging manufacturing unit in Assam which is likely to be commissioned during the first half of 2017.
  • During 9M CY16, Net sales up by 9.66% to Rs. 16552.60 mn from Rs. 15093.90 mn in 9M CY15.
  • During the nine months ended 2016, net profit was increased by 23% to Rs. 693.30 mn from Rs. 563.70 mn over the nine months ended 2015.
  • Net Sales PAT of the company are expected to grow at a CAGR of 23% and 17% over 2014 to 2017E, respectively.


OUTLOOK AND CONCLUSION

  • At the current market price of Rs.234.10, the stock P/E ratio is at 19.16 x CY16E and 16.08 X CY17E respectively.
  • Earning per share (EPS) of the company for the earnings for CY16E and CY17E is seen at Rs. 12.22 and Rs. 14.56 respectively.
  • Net Sales and PAT of the company are expected to grow at a CAGR of 23% and 17% over 2014 to 2017E, respectively.
  • On the basis of EV/EBITDA, the stock trades at 7.13 x for CY16E and 6.36 x for CY17E.
  • Price to Book Value of the stock is expected to be at 2.42 x and 2.10 x for CY16E and CY17E respectively.
  • Hence, we say that, we are Overweight in this particular scrip 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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