Manaksia - First Cut - Microsec Research

Manaksia Ltd announced its Q1FY14 consolidated results on 13th August, 2013.

The company arrived at net sales of INR540.71 crore, which was up by 32.42% on YoY basis due to higher sales growth witnessed in all the segments especially in metal products segment which constitute ~75% of the total revenue. On QoQ basis, the net sales fell by 14.34%. The EBITDA for the quarter was INR99.9 crore, which was again up by 52.12% on YoY basis because of its cost control efficiencies. On QoQ basis, it was down by 3.12%. The company registered adjusted net profit excluding exceptional items of INR55.22 crore, which was up significantly by 59.50% on YoY basis.

Hence, at the CMP of INR56 per share, the stock is trading at P/E of 1.65x its TTM EPS of INR33.98 and EV/EBITDA of 2.19x its TTM EBITDA of INR376.11 crore.

Source : Equity Bulls

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