Religare believes company's steep valuation discount is unwarranted as Sanghi Industries is on the cusp of a turnaround led by a richer product-cum-market mix and cheap capacity addition amid resurgent demand.
Expecting revenue compound annual growth rate (CAGR) of over 20 percent across FY14-FY17, brokerage house Religare has maintained a buy rating on Sanghi Industries that has been up 240 percent this year.
Sanghi Industries plans to set up a 1.2 mt brownfield grinding capacity (PPC) by Mar 2015. Company Director Bina Engineer anticipates a change in product mix to aid company's profitability.
Religare believes company's steep valuation discount is unwarranted as Sanghi Industries is on the cusp of a turnaround led by a richer product-cum-market mix and cheap capacity addition amid resurgent demand.
Furthermore, two new shipping terminals will allow for higher sea transport, says Engineer in an interview with CNBC-TV18's Ekta Batra and Reema Tendulkar.
Sanghi Ind stock price
On September 29, 2014, at 14:14 hrs Sanghi Industries was quoting at Rs 55.15, up Rs 2.60, or 4.95 percent. The 52-week high of the share was Rs 56.40 and the 52-week low was Rs 13.45.
The company's trailing 12-month (TTM) EPS was at Rs 2.25 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 24.51. The latest book value of the company is Rs 40.44 per share. At current value, the price-to-book value of the company is 1.36.
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