KEY RESULT HIGHLIGHTS
TaIwaIkar has reported its Q3FYI 7 results which were in line with our estimates. We reiterate BUY recommendation on the stock.
Q3FYI7 RESULT HIGHLIGHTS
VALUATIONS AND RECOMMENDATIONS
At CMP of Rs 222, TalwaIkars is currently trading at a PE of 7.9x FYi SE and EV/EBITDA of 3.8x FY1 8E. Given the Company's a) strong growth prospects given its leadership position in highly under penetrated and growing market b) 23% PAT CAGR over FY16-78E and c) average ROE of 15% through FY16-18E, we value the company at 12xFYl8E EPS with a target price of Rs 337. We reiterate a BUY rating on the stock.
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