Source: IRIS Exclusive (30-JAN-12)
Firstcall Research has recommended `Buy` on Wheels India with a price target of Rs 345 as against the current market price (CMP) of Rs 305 in its report dated Jan. 28, 2012. The broking house gave the following rationale:
>Wheels India engages in the manufacture and sale of automotive components in India and internationally.
>The Company has entered into a Technical Agreement with Topy Industries, a leading Japanese steel wheel manufacturer towards process, design and development of steel passenger car wheels.
>The company supplies 2/3rd of the domestic market requirement and exports 18% of the turnover to North America, Europe, Asia Pacific and South Africa.
>Net Sales and PAT of the company are expected to grow at a CAGR of 22% and 65% over 2010 to 2013E respectively.
>During the quarter, the company has reported Net Profit increased to Rs.109.80 million from Rs.51.40 million in previous year same quarter.
>Wheels India disclosed results for the quarter ended September 2011. Net sales for the quarter moved up 19% to Rs.5041.90 million as compared to Rs.4238.80 million during the corresponding quarter last year. During the quarter, the company has reported Net Profit increased to Rs.109.80 million from Rs.51.40 million in previous year same quarter. The Basic EPS of the company stood at Rs.11.12 for the quarter ended September 2011.
Valuation:
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.345 for medium to long term investment.
Click here to view full report
Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.
Firstcall Research has recommended `Buy` on Wheels India with a price target of Rs 345 as against the current market price (CMP) of Rs 305 in its report dated Jan. 28, 2012. The broking house gave the following rationale:
>Wheels India engages in the manufacture and sale of automotive components in India and internationally.
>The Company has entered into a Technical Agreement with Topy Industries, a leading Japanese steel wheel manufacturer towards process, design and development of steel passenger car wheels.
>The company supplies 2/3rd of the domestic market requirement and exports 18% of the turnover to North America, Europe, Asia Pacific and South Africa.
>Net Sales and PAT of the company are expected to grow at a CAGR of 22% and 65% over 2010 to 2013E respectively.
>During the quarter, the company has reported Net Profit increased to Rs.109.80 million from Rs.51.40 million in previous year same quarter.
>Wheels India disclosed results for the quarter ended September 2011. Net sales for the quarter moved up 19% to Rs.5041.90 million as compared to Rs.4238.80 million during the corresponding quarter last year. During the quarter, the company has reported Net Profit increased to Rs.109.80 million from Rs.51.40 million in previous year same quarter. The Basic EPS of the company stood at Rs.11.12 for the quarter ended September 2011.
Valuation:
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.345 for medium to long term investment.
Click here to view full report
Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.
No comments:
Post a Comment