“Everest Industries is one of India’s fastest growing building solutions company. Founded in 1934, Everest is one of the most respected and renowned business entities in India, and has dominated the market ever since. It has continuously introduced innovative and modern building products with a promise of strength, speed and safety. Everest offers a complete range of world-class building solutions: roofing, ceiling, wall, flooring, cladding, door and pre-engineered steel buildings for the industrial, commercial and residential sectors. Historically, Everest has provided rural shelters, by making corrugated roofing sheets available to farmers at a competitive price. The company is poised to capitalize on the opportunities in rural India, where various housing and infrastructure initiatives are envisaged by the Government.”
“The Everest brand of products are produced at state-of-the-art ISO:9000 certified manufacturing facilities located at Kymore, Nashik, Coimbatore, Kolkata and Roorkee. With over 6000 retail points spread across the nation, together with the strength of over 1285 highly qualified and experienced engineers, designers and technicians, Everest provides building solutions that successfully meet the highest standards of quality and durability. After successfully catering to the Indian market, Everest has widened its horizons in the international arena. With consistent exports to Europe, Africa, Australia and Asia, Everest is all set to scale new heights and establish a strong foundation in the global market. Banking on 76 years of experience and highly sophisticated technology, Everest assures customers that all its products live up to the promise of strength, speed and safety.”
“Everest Industries Ltd has reported net profit of Rs 132.10 million for the quarter ended on March 31, 2012 as against 106.20 million in the same quarter last year, an increase of 24.39%. It has reported net sales of Rs 2465.30 million for the quarter ended on March 31, 2012 as against Rs 1978.20 million in the same quarter last year, a rise of 24.62%. Total income grew by 25.63% to Rs 2495.10 million from Rs.1986.10 million in the same quarter last year. During the quarter, it reported earnings of Rs 8.74 a share.”
“At the current market price of Rs.196.00, the stock is trading at 4.90 x FY13E and 4.32 x FY14E respectively. Earning per share (EPS) of the company for the earnings for FY13E and FY14E is seen at Rs.40.02 and Rs.45.39 respectively. Net Sales and PAT of the company are expected to grow at a CAGR of 17% and 19% over 2011 to 2014E respectively. On the basis of EV/EBITDA, the stock trades at 2.62 x for FY13E and 2.34 x for FY14E. Price to Book Value of the stock is expected to be at 0.96 x and 0.78 x respectively for FY13E and FY14E. We expect that the company will keep its growth story in the coming quarters also. We recommend ‘BUY’ in this particular scrip with a target price of Rs 220 for medium to long term investment,” says Firstcall Research report.
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