Emkay Research has maintained its buy rating on Sintex India with a price target of Rs 860 in its May 7, 2008 research report. "Sintex Industries have declared their Q4 FY08 results which were in line with our expectations. The top line increased by 143% to Rs 9284.5 millions resulting in an increase in EBIDTA by 105% to Rs 1758 millions. The top line growth was in line with our expectations and it is expected to grow at a rapid pace because of the company’s continued focus on the plastic business. The Management has also maintained that the textile business segment will grow at a CAGR of 15% over the next 2 years."
"We expect the company's top line and bottom line to grow at a CAGR of 24.2 % and 26.3% in FY09 & FY10 respectively. We have maintained our earnings estimates for FY09E and FY10E respectively. On the basis of FY09E and FY10E EPS of Rs 20.5 and Rs 36.8 the stock trades at a P/E multiple of 23.6x and 13.1x respectively. We maintain our rating of BUY and maintain our target price of Rs 860," says Emkay's research report.
"We expect the company's top line and bottom line to grow at a CAGR of 24.2 % and 26.3% in FY09 & FY10 respectively. We have maintained our earnings estimates for FY09E and FY10E respectively. On the basis of FY09E and FY10E EPS of Rs 20.5 and Rs 36.8 the stock trades at a P/E multiple of 23.6x and 13.1x respectively. We maintain our rating of BUY and maintain our target price of Rs 860," says Emkay's research report.
