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

La Opala RG Q2FY17: Fundamental Analysis - Firstcall India Equity

Firstcall India Equity | 21 Nov, 2016  | Follow Author | Add to my Favourites 
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SYNOPSIS

  • La Opala RG Limited has been nearly three decades in business (Established in 1987). The Company is India’s only listed pure-play tableware company.
  • The company achieved a turnover of Rs. 697.71 million for Q2 FY17 as against Rs. 629.49 million in Q2 FY16, up by 10.84%.
  • During the 2nd quarter, net profit increased by 13.84% to Rs. 171.51 million from Rs. 150.65 million in the corresponding quarter ending of previous year.
  • During the quarter, EBIDTA stood at Rs. 274.44 million as against Rs. 223.33 million in the corresponding period of the previous year, up by 22.88%.
  • Profit before tax (PBT) stood at Rs. 242.24 million in Q2 FY17 as against Rs. 206.51 million in the corresponding quarter of the previous year, up by 17.30%.
  • EPS of the company stood at Rs. 3.09 in Q2 FY17 against Rs. 2.71 in the corresponding quarter of the previous year.
  • For six month period of FY17, net profit stood at Rs. 280.46 million as compared to Rs. 242.77 million for the Six month ended of previous financial year.
  • In H1 FY17, Net sales stood at Rs. 1208.91 million as compared to Rs. 1149.24 million in H1 FY16, up by 5.19%.
  • Net Sales and PAT of the company are expected to grow at a CAGR of 15% and 25% over 2015 to 2018E, respectively.


OUTLOOK AND CONCLUSION

  • At the current market price of Rs. 535.85, the stock P/E ratio is at 44.39 x FY17E and 40.48 x FY18E respectively.
  • Earning per share (EPS) of the company for the earnings for FY17E and FY18E is seen at Rs. 12.07 and Rs. 13.24 respectively.
  • Net Sales and PAT of the company are expected to grow at a CAGR of 15% and 25% over 2015 to 2018E respectively.
  • On the basis of EV/EBITDA, the stock trades at 27.80 X for FY17E and 25.15 X for FY18E.
  • Price to Book Value of the stock is expected to be at 10.35 x and 8.68 x for FY17E and FY18E 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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