Paushak Limited is engaged in the development and manufacture of phosgene based specialty chemicals and intermediates, reported its financial results for the quarter ended 31st Dec, 2014.
The company’s net profit increased by 112.59% and stood at Rs. 30.40 million against Rs. 14.30 million in the corresponding quarter ending of previous year. Revenue for the quarter increased by 48.05% to Rs. 178.40 million from Rs. 120.50 million, when compared with the prior year period. Reported earnings per share of the company stood at Rs. 9.47 a share during the quarter as against Rs. 4.45 over previous year period.
Profit before interest, depreciation and tax is Rs. 47.40 million as against Rs. 29.50 million in the corresponding period of the previous year.
At the current market price of Rs. 401.10, the stock P/E ratio is at 11.22 x FY15E and 9.83 x FY16E
respectively.
Earnings per share (EPS) of the company for the earnings for FY15E and FY16E are seen at Rs. 35.76 and Rs.40.81 respectively.
We recommend Short term delivery Buy Paushak Ltd in the range of 405-415 for a target of 435/450/465
