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Gujarat Pipavav Port Q3FY17: Fundamental Analysis - Firstcall India Equity - IndiaNotes.com
Gujarat Pipavav Port Q3FY17: Fundamental Analysis - Firstcall India Equity
Firstcall India Equity | Published: 14 Mar, 2017  | Source : IndiaNotes.com

SYNOPSIS

  • Gujarat Pipavav Port Limited is an India-based company engaged in the business of port development and operations at Pipavav Port.
  • The company achieved a turnover of Rs. 1691.63 mn for Q3 FY17 as against Rs. 1654.20 mn in the corresponding quarter of the previous year, an increase of 2.26%.
  • During the quarter, net profit increased by 21.10% to Rs. 645.45 mn from Rs. 533.01 mn in the corresponding quarter ending of previous year.
  • During the quarter, EBIDTA stood at Rs. 1152.17 mn as against Rs. 1065.42 mn in the corresponding period of the previous year, up by 8.14%.
  • Profit before tax (PBT) stood at Rs. 876.55 mn in Q3 FY17 against Rs. 815.51 mn in the corresponding quarter of the previous year, up by 7.48%.
  • EPS of the company stood at Rs. 1.34 in Q3 FY17 against Rs. 1.10 in the corresponding quarter of the previous year.
  • For the Nine months ended December 31, 2016, the company’s Net profit stood at Rs.1837.16 mn as compared to Rs.1868.26 mn in the corresponding nine months period of last year.
  • During nine months ended December 31, 2016, net sales increased to Rs. 5085.33 mn from Rs. 4991.86 mn in nine months ended December 31, 2015.
  • Net Sales and PAT of the company are expected to grow at a CAGR of 10% and 9% over 2015 to 2018E, respectively.


OUTLOOK AND CONCLUSION

  • At the current market price of Rs. 153.55, the stock P/E ratio is at 29.70 x FY17E and 27.25 x FY18E respectively.
  • Earning per share (EPS) of the company for the earnings for FY17E and FY18E is seen at Rs. 5.17 and Rs. 5.63 respectively.
  • Net Sales and PAT of the company are expected to grow at a CAGR of 10% and 9% over 2015 to 2018E respectively.
  • On the basis of EV/EBITDA, the stock trades at 15.85 x for FY17E and 14.51 x for FY18E.
  • Price to Book Value of the stock is expected to be at 3.43 x and 3.04 x for FY17E and FY18E respectively.
  • Hence, we say that, we are Overweight in this particular scrip for Medium to Long term investment.

 

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About Firstcall India Equity

Firstcall India Equity of Firstcall India Equity Advisors Pvt. Limited (FIEA), is a leading financial services provider in India and a SEBI Registered Category-I Merchant Banker. FIEA is a culmination of a credible Equity Research Capabilities, Long Standing Relationship with leading FIIs, DFIs, MFs, Overseas Pension Funds etc. The company’s research caters to the needs of the largest news wire and media houses of the world namely Reuters, Thomson, Capital IQ, Themarkets.com, Emerging Markets Euro money Publications-UK. The Company is among the major players in the Debt and Equity markets.


For more information please write in to editor@indianotes.com

 

Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.

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