Banco Products (India) Ltd (BPIL) Q2FY11 Result Update
- BPIL reported a 21.5% YoY increase in standalone revenues to INR 1.2bn for Q2FY11.
- The company registered a decline of 920bps YoY in EBITDA margin to 20.0%.
- The company registered a decline of 910bps YoY in net margin to 12.3%.
Outlook & Valuation
The stock is currently trading at P/E multiple of 6.4x as per our FY12 earnings estimate. We maintain our Buy rating on this stock with a revised target price of INR 149.
Thanks & Regards,
Unicon Wealth Research
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