@hrfacebuk: Siji I am very well aware of PB and PE valuations for NBFC's.

Did you know that Gruh is one of the most expensive financial stock in world at 12+ P/BV? Repco is at 5/6 P/BV which is extremely expensive if you take PBV as sole valuation. For years investors tried valuing Gruh on PBV and shrugged it off as super expensive. Then we came to terms with it and realized that PE fits better in Gruh's case.

Another angle is when a financial raises equity capital every few years, it renders PBV useless. For an example, IndusInd Bank was trading at PBV of 4.25 this July. They raised 5000 Cr of equity and suddenly PBV ratio dropped to 3.25. Would you then say stock was expensive at one instance and is reasonable in couple of days?

Believe it or not, most of the investors are using PE for NBFC valuation these days. And after all ROE = PB / PE. So PE is nothing but function of PB and ROE.

I entered around 200
I agree with your estimate for fy 16 guidance of EPS, my estimate is also close to Rs 16/17.
Earnings visibility is pretty strong and return ratios improving day by day.
Promoter is highly ethical and passionate about business.
I will classify as still under owned/undiscovered (to some extent)
Mkt will wait for several quarters to assign a v high PE.

As some analyst start discounting Fy17 EPS etc then, it can be again re rated.
Take over talks may be wishful thinking or market rumours.

In the long run, it has a potential to really surprised on higher side.

disc : invested, view are biased.

Rpower results are good.
All money hungry projects are scrapped. Declared first dividend. Also bangladesh project to cost just 10000cr as 8000cr equipments are lying packed at samalkot.
Available at a pe of 10.

Hey guys. As soon as you get significant gains, come out of this stock and invest in india cements as it has a much better scalability and pe expansion chances