- Manpasand Beverages Ltd is engaged in the business of manufacturing of fruit juices in the beverages segment.
- The company achieved a turnover of Rs. 2734.05 mn for Q4 FY17 as against Rs. 2125.77 mn in the corresponding quarter of the previous year, up by 28.61%.
- During the quarter, net profit increased by 22.46% to Rs. 313.38 mn from Rs. 255.91 mn in the corresponding quarter ending of previous year.
- During the quarter, EBIDTA stood at Rs. 602.74 mn as against Rs. 449.10 mn in the corresponding period of the previous year, up by 34.21%.
- Profit before tax (PBT) increased by 25.84% to Rs. 361.11 mn in Q4 FY17 from Rs. 286.95 mn in the corresponding quarter of the previous year.
- EPS of the company stood at Rs. 5.48 in Q4 FY17 against Rs. 5.11 in the corresponding quarter of the previous year.
- Manpasand Beverages Ltd has recommended dividend at the rate of 10% (Re. 1/- per equity share) on the face value of Rs. 10/- per equity share, for the Financial Year ended March 31, 2017.
- During FY17, Net sales increased by 34.79% to Rs. 7171.12 mn from Rs. 5320.04 mn in FY16.
- For the year ended FY17, net profit stood at Rs. 726.37 mn as against Rs. 504.99 mn for the year ended of previous financial year, up by 43.84%.
- Net Sales and PAT of the company are expected to grow at a CAGR of 24% and 29% over 2016 to 2019E, respectively.
OUTLOOK AND CONCLUSION
- At the current market price of Rs. 760.00, the stock P/E ratio is at 49.54 x FY18E and 40.24 x FY19E respectively.
- Earning per share (EPS) of the company for the earnings for FY18E and FY19E is seen at Rs. 15.34 and Rs. 18.89 respectively.
- Net Sales and PAT of the company are expected to grow at a CAGR of 24% and 29% over 2016 to 2019E respectively.
- On the basis of EV/EBITDA, the stock trades at 20.93 x for FY18E and 17.48 x for FY19E.
- Price to Book Value of the stock is expected to be at 3.30 x and 2.91 x for FY18E and FY19E respectively.
- Hence, we say that, we are Overweight in this particular scrip for Medium to Long term investment.
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