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Buy Skipper over a period of 9 to 12 months with a target price of Rs...

Equirus Securities | 12 Sep, 2017  | Follow Author | Add to my Favourites 
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The stock currently trades at 17.1x FY18e EPS of Rs12.18 and 13.5x FY19e EPS of Rs 15.43. Notwithstanding near term stress in its polymer products business,  regional  capacities  mostly  set  up  on  asset  light  model  and strategic tie ups with Sekisui of Japan (for CPVC compound) and WAVIN of  Netherlands  for  advanced  plumbing  solutions  are  not  worthy  of sidestepping.

Sustenance of its engineering products business would rest on increased  PGCIL  investments  in  13th  Plan  -  also  in  North  East  and emerging T&D opportunities in South East Asia, Latin America and Africa.

We recommend buying the stock with a target of Rs 262 based on 17x FY19e earnings (peg ratio: 0.9 on 19% average earnings growth).

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241.75 -3.20
241.05 -3.65
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About Equirus Securities

Equirus has built impeccable credential and market standing across domains & has created a niche for itself in its ability to structure and deliver transactions in-line with client’s requirement. It takes pride in being a one stop Investment bank for all financial needs of growth oriented mid market companies. Led by seasoned bankers, they work with the largest and the most reputed investors in the industry. Equirus Securities can be accessed at

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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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