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Hem Securities | Published: 16 Jan, 2018  | Source :
Investment Rationale

Co’s key customers include leading RAC brands such as Daikin,  Hitachi,  LG,  Panasonic,  Voltas  &  Whirlpool.  Co’s  customers  commands around 75 % share in Indian  RAC market  in Fiscal 2017.  The Indian RAC market volumes are expected to grow at a  CAGR  of  12.8%  from  Fiscal  2017  to  Fiscal  2022.  Due  to  the current low penetration of 4%, the Indian RAC market presents huge growth opportunity (Source: F&S Report). Due to factors such as the growth  of Indian economy,  population, disposable income  and  urbanization  as  well  as  changing  lifestyle  trends, shortening  of  replacement  cycle,  easy  access  to  credit,  longer hot  weather  conditions,  better  availability  of  electricity,  increasing affordability of operating a RAC due  to launch of energy  efficient  models  and  the  growing  advantage  of  domestic manufacturers  compared  to  import  markets  co  is  well  placed  not  only  to  benefit  from  the  growth  in  domestic  market  but  also expand its export footprint.


The co is bringing the issue at p/e multiple of 49 on annualized H1FY18  eps  at  higher  price band of Rs  855-859/share.  Co being  market  leader  in  RAC  OEM/ODM  industry  in  India  have reputed  clientele  with  strong  track  record  of  financial  performance.Looking after strong future prospects of co with decent fundamentals, ,  we recommend “Subscribe” on issue.   Read full report Click here to read the full report

About Hem Securities
The Hem Securities is one of the leading broking Network in India. It provides trading platform in all the leading exchanges namely - BSE, NSE, MCX , NCDEX & MCX-SX. Their mission is to build wealth for their investors by offering them best financial services through trading & investment strategies and honoring commitment with ethical & transparent business practices.

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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 accept any liability whatsoever arising from the use of any of the above contents.