CLSA retains outperform on Astral Poly Technik, target price Rs 1305
Outperform Astral Poly Technik Ltd. at a price target of Rs 1305.0 .
By ETMarkets.com | Updated:
CLSA has retained outperform rating on Astral Poly Technik in the long term with a target price of Rs 1305. The stock ended down 0.9% at Rs 1113.70 on Wednesday while the BSE Sensex closed 220.03 points up at 40,051.87.
Company Financials
For the quarter ended 30-09-2019, the company has reported consolidated sales of Rs 678.30 crore, up 11.82% from last quarter sales of Rs 606.60 crore and up 7.80% from last year same quarter sales of Rs 629.24 crore. The company has reported net profit after tax of Rs 82.50 crore in the latest quarter.
Investment Rationale
The near-term transition in adhesives distribution will have a long-term positive impact in terms of both revenue and margin expansion, said CLSA. The piping segment will likely grow rapidly over the next few years, it said. Valuations are not cheap but 22% EPS CAGR over FY19-FY22 partially justifies high valuations, said CLSA.
Company Financials
For the quarter ended 30-09-2019, the company has reported consolidated sales of Rs 678.30 crore, up 11.82% from last quarter sales of Rs 606.60 crore and up 7.80% from last year same quarter sales of Rs 629.24 crore. The company has reported net profit after tax of Rs 82.50 crore in the latest quarter.
Investment Rationale
The near-term transition in adhesives distribution will have a long-term positive impact in terms of both revenue and margin expansion, said CLSA. The piping segment will likely grow rapidly over the next few years, it said. Valuations are not cheap but 22% EPS CAGR over FY19-FY22 partially justifies high valuations, said CLSA.
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