CMP 296.55 Target Price 340.00 ISIN: INE415A01038 NOVEMBER 12 th 2015 HSIL LTD Result Update(PARENT BASIS): Q2 FY16 BUY Stock Details Stock Data Sector Containers & Packaging BSE Code 500187 Face Value 2.00 52wk. High / Low (Rs.) 477.00/238.00 Volume (2wk. Avg ) 16000 Market Cap ( Rs in mn.) 21440.57 Annual Estimated Results (A*: Actual / E*: Estimated) Years FY15A FY16E FY17E Net Sales 18570.20 19870.11 21658.42 EBITDA 3450.50 3519.87 3856.61 Net Profit 1041.50 1174.09 1327.66 EPS 14.41 16.24 18.36 P/E 20.59 18.26 16.15 Shareholding Pattern (%) As on Sep 2015 As on Jun 2015 PROMOTER 47.11 47.11 FIIs 10.39 10.24 DIIs 23.31 25.03 OTHERS 19.19 17.62 1 Year Comparative Graph HSIL LTD BSE SENSEX SYNOPSIS HSIL Limited is the largest Indian manufacturer of Sanitaryware products and Packaging Products. During Q2 FY16, the company net profit jumps to Rs. 243.30 mn against Rs. 190.70 mn in Q2 FY15, an increase of 27.58%. The company achieved a turnover of Rs. 4293.90 mn for the 2 nd quarter of the current year 2015-16 as against Rs. 4238.30 mn in the corresponding quarter of the previous year. In Q2 FY16, EBIDTA is Rs. 767.30 mn as against Rs. 765.20 mn in the corresponding period of the previous year. During the quarter, PBT stood at Rs. 385.90 mn as against Rs. 286.00 mn over the corresponding quarter of previous year, an increase of 34.93%. EPS of the company stood at Rs. 3.37 a share during the quarter, registering 16.55% increased over previous year period. During Q2 FY16, Building Products segment grew up by 9% to Rs. 2468.80 mn from Rs. 2267.60 mn in Q2 FY15. During Q2 FY16, Packaging Products segment stood at Rs. 1817.30 mn as compared to Rs. 1964.60 mn in Q2 FY15. During H1 FY16, revenue stood at Rs. 8422.40 mn as compared to Rs. 8359.80 mn in H1 FY15. During H1 FY16, PAT was up by 22.37% to Rs. 416.80 mn from Rs. 340.60 mn in H1 FY15. Net Sales & PAT of the company are expected to grow at a CAGR of 8% and 7% over 2014 to 2017E respectively. PEER GROUPS CMP MARKET CAP EPS P/E (X) P/BV(X) DIVIDEND Company Name (Rs.) Rs. in mn. (Rs.) Ratio Ratio (%) HSIL LTD 296.55 21440.57 14.41 20.59 2.12 175.00 Uflex Ltd 173.80 12449.30 22.50 7.66 0.74 27.00 Time Technoplast Ltd 57.25 11945.20 3.36 16.92 1.45 50.00 Kajaria Ceramics Ltd 882.80 68736.70 25.04 34.54 9.52 200.00
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CMP 296.55
Target Price 340.00
ISIN: INE415A01038
NOVEMBER 12th 2015
HSIL LTD
Result Update(PARENT BASIS): Q2 FY16
FY 13
BUY
Stock Details
Stock Data
Sector Containers & Packaging
BSE Code 500187
Face Value 2.00
52wk. High / Low (Rs.) 477.00/238.00
Volume (2wk. Avg ) 16000
Market Cap ( Rs in mn.) 21440.57
Annual Estimated Results (A*: Actual / E*: Estimated)
Years FY15A FY16E FY17E
Net Sales 18570.20 19870.11 21658.42
EBITDA 3450.50 3519.87 3856.61
Net Profit 1041.50 1174.09 1327.66
EPS 14.41 16.24 18.36
P/E 20.59 18.26 16.15
Shareholding Pattern (%)
As on Sep 2015 As on Jun 2015
PROMOTER 47.11 47.11
FIIs 10.39 10.24
DIIs 23.31 25.03
OTHERS 19.19 17.62
1 Year Comparative Graph
HSIL LTD BSE SENSEX
SYNOPSIS
HSIL Limited is the largest Indian manufacturer of Sanitaryware products and Packaging Products.
During Q2 FY16, the company net profit jumps to Rs. 243.30 mn against Rs. 190.70 mn in Q2 FY15, an increase of 27.58%.
The company achieved a turnover of Rs. 4293.90 mn for the 2nd quarter of the current year 2015-16 as against Rs. 4238.30 mn in the corresponding quarter of the previous year.
In Q2 FY16, EBIDTA is Rs. 767.30 mn as against Rs. 765.20 mn in the corresponding period of the previous year.
During the quarter, PBT stood at Rs. 385.90 mn as against Rs. 286.00 mn over the corresponding quarter of previous year, an increase of 34.93%.
EPS of the company stood at Rs. 3.37 a share during the quarter, registering 16.55% increased over previous year period.
During Q2 FY16, Building Products segment grew up by 9% to Rs. 2468.80 mn from Rs. 2267.60 mn in Q2 FY15.
During Q2 FY16, Packaging Products segment stood at Rs. 1817.30 mn as compared to Rs. 1964.60 mn in Q2 FY15.
During H1 FY16, revenue stood at Rs. 8422.40 mn as compared to Rs. 8359.80 mn in H1 FY15.
During H1 FY16, PAT was up by 22.37% to Rs. 416.80 mn from Rs. 340.60 mn in H1 FY15.
Net Sales & PAT of the company are expected to grow at a CAGR of 8% and 7% over 2014 to 2017E respectively.
PEER GROUPS CMP MARKET CAP EPS P/E (X) P/BV(X) DIVIDEND
Company Name (Rs.) Rs. in mn. (Rs.) Ratio Ratio (%)
HSIL LTD 296.55 21440.57 14.41 20.59 2.12 175.00
Uflex Ltd 173.80 12449.30 22.50 7.66 0.74 27.00
Time Technoplast Ltd 57.25 11945.20 3.36 16.92 1.45 50.00