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PTC Industries Q2FY17: Firstcall are overweight for medium to long term investment

Firstcall India Equity | 19 Jan, 2017  | Follow Author | Add to my Favourites 
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  • PTC Industries Limited is one of the world's leading suppliers of high precision cast components for critical and super critical operations.
  • Revenue for the quarter stood at Rs. 287.02 mn from Rs. 225.55 mn, when compared with the prior year period, an increase of 27.25%.
  • During Q2 FY17, EBIDTA is Rs. 45.21 mn as against Rs. 34.44 mn in the corresponding period of the previous year, an increase of 31.27%.
  • PET increased by 38.12% from Rs. 16.66 mn in Q2 FY 16 to Rs. 23.01 mn during the quarter ended 30th September 2016.
  • During Q2 FY17, the company’s net profit jumps to Rs. 16.56 mn from Rs. 11.81 mn in Q2 FY16, an increase of 40.22%.
  • EPS of the company stood at Rs. 3.16 during the quarter, as against Rs. 2.25 per share over previous year period.
  • For the Half Year ended September 30, 2016, Net Sales increased by 20.56% to Rs. 516.08 mn from Rs. 428.07 mn in the corresponding period of last year.
  • Net Profit during H1 F Y17 stood at Rs. 32.67 mn up by 31.47% as against Rs. 24.85 mn for the six months ended 3oth September 2015.
  • Net Sales and PAT of the company are expected to grow at a CAGR of 5% and 6% over 2015 to 2018E, respectively.


  • At the current market price of Rs.278.75, the stock P/E ratio is at 21.04 x FY17E and 18.69 x FY18E respectively.
  • Earning per share (EPS) of the company for the earnings for FY17E and FY18E is seen at Rs. 13.25 and Rs. 14.91 respectively.
  • Net Sales and PAT of the company are expected to grow at a CAGR of 5% and 6% over 2015 to 2018E respectively.
  • On the basis of EV/EBITDA, the stock trades at 13.48 x for FY17E and 12.76 x for FY18E.
  • Price to Book Value of the stock is expected to be at 1.15 x and 1.08 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,, 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 accept any liability whatsoever arising from the use of any of the above contents.

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