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You are here : IndiaNotes >> Research & Analysis >> Companies >> Somany Ceramics Ltd. >> Research

Somany Ceramics Q3FY17: Fundamental Analysis - Firstcall India Equity

Firstcall India Equity | 27 Jan, 2017  | Follow Author | Add to my Favourites 
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SYNOPSIS

  • Somany Ceramics Limited established in 1968 manufactures and sells ceramic tiles and allied products under the SOMANY brand in India.
  • During Q3 F Y17, the company’s net profit jumps to Rs. 201.80 million against Rs. 138.60 million in the corresponding quarter ending of previous year, an increase of 45 .60%.
  • Revenue for the quarter rose by 5.66% to Rs. 4387.30 million from Rs. 4152.10 million, when compared with the prior year period.
  • For the Q3 FY17, EBITDA is Rs. 425.30 million as against Rs. 311.00 million in the corresponding period of the previous year.
  • During Q3 FY17, Profit before tax grew 47.84% and stood at Rs. 315.20 million against Rs. 213.20 million in Q3 FY16.
  • EPS of the company stood at Rs. 4.76 a share during the quarter, as against Rs. 3.27 per share over previous year period.
  • During Nine months ended net profit of the Company increased to Rs. 610.90 million from Rs. 350.00 million, an increase of 74.54%.
  • Net Sales and PAT of the company are expected to grow at a CAGR of 13% and 41% over 2015 to 2018E respectively.


OUTLOOK AND CONCLUSION

  • At the current market price of Rs.600.80, the stock P/E ratio is at 27.35 x FY17E and 22.85 x FY18E respectively.
  • Earning per share (EPS) of the company for the earnings for FY17E and FY18E is seen at Rs. 21.97 and Rs. 26.29 respectively.
  • Net Sales and PAT of the company are expected to grow at a CAGR of 13% and 41% over 2015 to 2018E respectively.
  • On the basis of EV/EBITDA, the stock trades at 14.24 x for FY17E and 12.07 x for FY18E.
  • Price to Book Value of the stock is expected to be at 4.96 x and 4.08 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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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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