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You are here : IndiaNotes >> Research & Analysis >> Companies >> Shri Jagdamba Polymers Ltd. >> Research

Shri Jagdamba Polymers Q2FY17: Fundamental Analysis - Firstcall India Equity

Firstcall India Equity | 23 Jan, 2017  | Follow Author | Add to my Favourites 
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SYNOPSIS

  • Shri Jagdamba Polymers Ltd engages in the manufacture and sale of woven polypropylene polyethylene fabrics in India.
  • During the quarter, the company’s net profit stood at Rs. 25.84 million as against Rs. 11.48 million in the corresponding quarter ending of previous year, grew by 125.12%.
  • Revenue for the quarter stood at Rs. 390.10 million from Rs. 356.58 million, when compared with the prior year period.
  • During Q2 FY17, EBIDTA is Rs. 58.04 million as against Rs. 35.12 million in the corresponding period of the previous year.
  • EPS of the company stood at Rs. 29.32 a share in Q2 FY17 as against Rs. 13.03 in the corresponding quarter of the previous year.
  • During Q2 FY17, PBT increased by 107.69% to Rs. 37.34 million from Rs. 17.98 million in Q2 FY16.
  • Revenues for H1 FY17 grew by 14.90% and stood at Rs. 811.95 million as compared to Rs. 706.67 million in H1 FY16.
  • During the half year ended 2016-17, Net Profit increased by 78.15% and stood at Rs. 36.28 million as compared to Rs. 20.36 million in the previous year same period.
  • Net Sales and PAT of the company are expected to grow at a CAGR of 17% and 40% over 2015 to 2018E respectively.


OUTLOOK AND CONCLUSION

  • At the current market price of Rs. 745.00, the stock P/E ratio is at 6.82 x FY17E and 5.47 x FY18E respectively.
  • Earning per share (EPS) of the company for the earnings for F Y17E and F Y18E is seen at Rs. 109.20 and Rs. 136.24 respectively.
  • Net Sales and PAT of the company are expected to grow at a CAGR of 17% and 40% over 2015 to 2018E respectively.
  • On the basis of EV/EBITDA, the stock trades at 3.72 x for FY17E and 2.88 x for FY18E.
  • Price to Book Value of the stock is expected to be at 2.08 x and 1.51 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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