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You are here : IndiaNotes >> Research & Analysis >> Companies >> Vaibhav Global Ltd. >> Research

Vaibhav Global Q1FY18: Buy this stock at a CMP of Rs 545

Firstcall India Equity | 13 Sep, 2017  | Follow Author | Add to my Favourites 
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  • Vaibhav Global Q1FY18: Buy this stock at a CMP of Rs 545   

  • Vaibhav Global Limited is an electronic retailer of fashion jewelry and lifestyle accessories.

  • During Q1 FY18, consolidated net profit jumps to Rs. 150.69 mn from Rs. 109.85 mn in Q1 FY17, an increase of 37.18%.

  • Consolidated revenue for the quarter increased by 5.16% to Rs. 3296.50 mn as against Rs. 3134.81 mn, when compared with the prior year period.

  • During Q1 FY18, consolidated EBIDTA is Rs. 250.89 mn as against Rs. 196.93 mn in Q1 FY17, grew by 27.40%.

  • During Q1 FY18, consolidated PBT increased by 41.92% to Rs. 162.37 mn from Rs. 114.41 mn in Q1 FY17.

  • EPS of the company stood at Rs. 4.63a share during the quarter, as against Rs. 3.38 per share over previous year period.

  • Home TV Network Reach in 107 Mn Households' across US and UK.

  • Q1FY18 Retail Volumes at 1.9 Million Units, up 10% YoY.

  • Operating Cash Flows of the company registered at Rs. 880 mn in FY 17 and it stood at Rs. 80 mn in Q1 FY 18.

  • Free Cash Flow of the company stood at Rs. 580 mn in FY 17 and Rs. 40 mn in Q1 FY 18.

  • Net Sales and PAT of the company are expected to grow at a CAGR of 10% and 21% over 2016 to 2019E, respectively.


OUTLOOK AND CONCLUSION


At the current market price of Rs.545.00, the stock P/E ratio is at 26.95 x F Y18E and 24.87 x FY19E respectively.


Earning per share (EPS) of the company for the earnings for FY18E and FY19E is seen at Rs. 20.22 and Rs. 21.91 respectively.


Net Sales and PAT of the company are expected to grow at a CAGR of 10% and 21% over 2016 to 2019E respectively


On the basis of EV/EBITDA, the stock trades at 15.23 x for F Y18E and 13.71 x for F Y19E.


Price to Book Value of the stock is expected to be at 3.66 x and 3.19 x for F Y18E and F Y19E respectively.


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


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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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