Techn Fa TEC CMP Price Per % Absolute Rel to Ni Sharmila J Sharmila.j +91 09320 Prakash C Prakash.p +91 93133 Bloombe Market C Face Val Book Va EPS (Rs) Dividend 52 week Daily Av Listed At Equity ca (Rs Cr) Revenue EBITDA PAT OPM % NPM % EPS (Rs) no Funda Ca airWeal CHNO FU P: Rs 160 rformance 1M 3M e (4.5) (1 fty (2.7) (7 Joshi oshi@fairwealt 159211 Chandra Pandey pandey@fairwea 337742 erg Code Cap (Rs bn/USD lue (Rs) lue (Rs) ) d Yield H/L (Rs) g. Vol (mn) t apital (Rs cr) Q3FY1 1 Q 11,143 9 1795.7 2 1107.4 1 16.1 10 2.68 all- SAIL lth Equ UNDA CA ; SL: Rs M 6M 12M 5.7) (21.4) (33 .3) (14) (37 th.in y alth.in SAIL D bn) 660.8 10 80.66 13.22 2.1% 258.4 0.43 NSE/B 4130. Q3FY1 0 VAR % 9,697 14.9 578.4 -30.4 675.5 -33.9 26.6 (1049bps ) 17.3 (740bps) 4.1 - uity Res ALL – ST s 148; T M 3.8) 7.9) I V M a 1 T E tR S p p IN /14.52 45/150 BSE 4 9MFY11 30,775.4 6,365.9 3,374.1 20.7 11 8.2 search TEEL AU Target: R INVESTM • SAIL is all ongoing inf plans, whic currently. • SAIL is ban segment by premium se• SAIL is 100 could sufficsufficient en 23.2mt, thuprice volati• India’s finiby strong d India will rsupply. Valuations : March quarter adverse movem 12.15x and 11. The stock came EV/EBIDTA of arget price Rs Ranked among Steel Authorit producing bot power, railway UTHORIT s 195; MENT THset to bank on frastructure de h will increas nking on the r expanding its gment comman % integrated w e only 30% innough to back s the backwar lity. shed steel dem demand from A emain a net stWe expect co of FY11. Witment of raw ma 48x of our est e off sharply b10.4 & 9.6 of 195. gst the top ten y of India Lim th basic and y, automotive TY OF IN Upside: 2 ESIS the domestic evelopment in se its crude st robust demand s value added nds 20-25% pr with respect to tegration. The k its ambitious d integration mand is expecte Automobiles, c eel importer oompany to poh high backwa aterial. At the timated FY11E y over 25% in f FY11E and F n public sector mited (SAIL) special steels and defence i NDIA LTD 22%; H consumption o the country, eel capacity td witnessed fo steelmaking c emium over se Iron Ore. How company has s expansion pl would de-risk ed to grow at 1 consumer dura ver FY11-13, st its higher e ard integration current price E and FY12E E the last quartFY12E. We thu r companies in is a fully inte s for domesti ndustries and D 2 Horizon: 6 of steel primarwith its ambi o 23.2mt by 2 or finished and capacity. The emi-finished or wever, its cokithe Iron ore rlans to take it the company 12% CAGR ovables and Eng as demand is l ever sales num n SAIL would of Rs 160, sto EPS of Rs 13.1 er at Rs 150. I us recommend n India in ter grated iron an ic constructio d for sale in ex 22 nd March 201 6 Months ily driven by titious expansio 2013 from 14m d premium ste value added crude steel ng coal reserveserves which ts capacity up to raw materi er FY 10-13, le gineering secto likely to outpamber during tbe de-risk fro ock is trading 16 and Rs13.9 It is available ‘BUY’ with tms of turnove nd steel make on, engineerin xport markets. 11 he on mt eel or es is to al ed or. ce he om at 93. at he er, er, ng, .
4
Embed
FairWealth Equity Research - Business Standardsmartinvestor.business-standard.com/BSCMS/PDF/sail_220311_01.pdf · ongoing inf plans, whic currently. • SAIL is ban segment by premium
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.