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Wim Plast Q2FY17: Firstcall are overweight for medium to long term investment

Firstcall India Equity | 09 Jan, 2017  | Follow Author | Add to my Favourites 
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  • WIM Plast Ltd is an India-based company engaged in the manufacturing activity of plastic molded furniture, plastic extrusion sheets, molds and air coolers.
  • The company has achieved a turnover of Rs. 770.94 mn for the 2nd quarter of the FY 2016-17 as against Rs. 814.02 mn in the corresponding quarter of the previous year.
  • During the quarter, net profit increased by 5.24% to Rs. 91.35 mn from Rs. 86.80 mn in the corresponding quarter ending of previous year.
  • During the quarter, EBIDTA stood at Rs. 165.33 mn as against Rs. 153.83 mn in the corresponding period of the previous year, up by 7.48%.
  • Profit before tax (PBT) stood at Rs. 135.23 mn in Q2 FY17 against Rs. 125.47 mn in the corresponding quarter of the previous year, up by 7.78%.
  • EPS of the company stood at Rs. 7.61 in Q2 FY17 as against Rs. 14.46 in the corresponding quarter of the previous year.
  • For the Half Year ended September 30, 2016, Net Sales increased by 5.05% to Rs. 1765.85 mn from Rs. 1681.03 mn in the corresponding period of last year.
  • Net Profit during H1 FY17 stood at Rs. 226.40 mn up by 24.89% as against Rs. 181.28 mn for the six months ended 3oth September 2015.
  • Net Sales and PAT of the company are expected to grow at a CAGR of 8% and 13% over 2015 to 2018E, respectively.


  • At the current market price of Rs. 1500.40, the stock P/E ratio is at 36.56 x FY17E and 33.81 x FY18E respectively.
  • Earning per share (EPS) of the company for the earnings for FY17E and FY18E is seen at Rs. 41.03 and Rs. 44.37 respectively.
  • Net Sales and PAT of the company are expected to grow at a CAGR of 8% and 13% over 2015 to 2018E respectively.
  • On the basis of EV/EBITDA, the stock trades at 20.33 x for FY17E and 18.65 x for FY18E.
  • Price to Book Value of the stock is expected to be at 6.99 x and 6.01 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,, 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 accept any liability whatsoever arising from the use of any of the above contents.

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