PIDILITE INDUSTRIES Research Report By FirstCall

At the current market price of Rs.627.40, the stock P/E ratio is at 59.56 x FY15E and 55.22 x FY16E respectively.  Earning per share (EPS) of the company for the earnings for FY15E and FY16E is seen at Rs.10.53 and Rs.11.36 respectively.  Net Sales and PAT of the company are expected to grow at a CAGR of 15% and 11% over 2013 to 2016E respectively.  On the basis of EV/EBITDA, the stock trades at 37.17 x for FY15E and 33.67 x for FY16E.  Price to Book Value of the stock is expected to be at 13.15 x and 10.99 x respectively for FY15E and FY16E.  We recommend ‘BUY’ in this particular scrip with a target price of Rs.705.00 for Medium to Long term investment.

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