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You are here : IndiaNotes >> Research & Analysis >> Companies >> Premier Explosives Ltd. >> Research

Premier Explosives constantly innovating & upgrading products & technology; Overweight

Firstcall India Equity | 10 Jun, 2016  | Follow Author | Add to my Favourites 
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OUTLOOK AND CONCLUSION


- At the current market price of Rs.364.70, the stock P/E ratio is at 42.52 x FY17E and 35.35 x F Y18E respectively.


- Earning per share (EPS) of the company for the earnings for FY17E and FY18E is seen at Rs. 8.58 and Rs. 10.32 respectively.


- Net Sales and Operating Profit of the company are expected to grow at a CAGR of 12% and 5% over 2015 to 2018B respectively.


- On the basis of EV/EBITDA, the stock trades at 17.71 X for F Y17E and 15.76 X for F Y18E.


- Price to Book Value of the stock is expected to be at 4.42 x and 3.93 x for F Y17E and F Y18E respectively.


- Hence, we say that, we are Overweight in this particular scrip for Medium to Long term investment.


SYNOPSIS


- Premier Explosives Limited (PEL) is an India-based Company is engaged in the manufacture and sale of industrial explosives, defense products.


- During the quarter, the company achieved a turnover of Rs. 587.21 mn as against Rs. 422.12 mn in Q4 FY15, up by 39.11%.


- During Q4 FY16, Net profit jumps to Rs. 34.00 mn form Rs. 20.22 mn in the Q4 FY15, an increase of 68.19%.


- During the quarter, EBIDTA is Rs. 72.30 mn as against Rs. 46.93 mn in the corresponding period of the previous year, up by 54.07%.


- During Q4 FY16, PBT increased by 76.00% to Rs. 54.04 mn from Rs. 30.70 mn in Q4 FY15.


- EPS of the company stood at Rs. 3.84 a share during the quarter, registering 68.18% increased over previous year period.


- The company’s total Order book as on 31St March 2016 stands at Rs. 2,260 mn.


- The company has declared an Interim Dividend for the financial year 2015-16 on Equity Share Capital 20% (Rs. 2.00 per equity share, nominal value of Rs. 10/- each).


- Revenues for FY2015-16 stood at Rs. 1849.47 mn as compared to Rs. 1494.92 mn in FY2014-15, up by 24%.


- During the year ended 2015-16, Net Profit increased by 7% to Rs. 56.75 mn from Rs. 53.21 mn in the previous year ended F Y2014-15.


- Net Sales and Operating Profit of the company are expected to grow at a CAGR of 12% and 5% over 2015 to 2018B respectively.

 


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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.


For more information please write in to [email protected]

 

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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