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You are here : IndiaNotes >> Research & Analysis >> Companies >> Panasonic Energy India Company Ltd. >> Research

Panasonic Energy India Company Q2FY17: Fundamental Analysis - Firstcall India Equity

Firstcall India Equity | 19 Jan, 2017  | Follow Author | Add to my Favourites 
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SYNOPSIS

  • Panasonic Energy India Co. Ltd., was established in the year 1972 as Lakhanpal National Limited, is one of India's largest manufacturer & supplier of dry cell batteries and lighting products.
  • During Q2 FYl7, the company’s net profit increased by 2.17% to Rs. 37.60 million as against Rs. 36.80 million in the corresponding quarter ending of previous year.
  • Revenue for the 2nd quarter stood at Rs. 653.70 million as compared to Rs. 636.70 million during corresponding quarter of previous year.
  • For Q2 FYl7, EBITDA stood at Rs. 64.10 million as against Rs. 60.90 million in the corresponding period of the previous year, up by 5.25%.
  • During the quarter, PBT stood at Rs. 58.10 million from Rs. 55.40 million in the corresponding period of the previous year.
  • EPS of the company stood at Rs. 5.01 a share during the quarter, as against Rs. 4.91 per share over previous year period.
  • In H1 FYl7, Net sales stood at Rs. 1071.90 million as compared to Rs. 1191.70 million in H1 FY16.
  • For six month period of FY17, net profit stood at Rs. 37.40 million as compared to Rs. 78.80 million for the Six month ended of previous financial year.
  • Operating Profit & PAT of the company are expected to grow at a CAGR of 15% and 21% over 2015 to 2018E, respectively.


OUTLOOK AND CONCLUSION

  • At the current market price of Rs. 303.25, the stock P/E ratio is at 17.13 x FY17E and 14.23 x FY18E respectively.
  • Earning per share (EPS) of the company for the earnings for FY17E and FY18E is seen at Rs. 17.70 and Rs. 21.31 respectively.
  • Operating Profit & PAT of the company are expected to grow at a CAGR of 15% and 21% over 2015 to 2018E respectively.
  • On the basis of EV/EBITDA, the stock trades at 7.18 x for FY17E and 5.58 x for FY18E.
  • Price to Book Value of the stock is expected to be at 2.41 x and 2.08 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, 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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