16 February 2011

Buy Sintex Industries:: Goldman Sachs Top picks

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Industrials: Sintex Industries (SNTX.BO, Buy)
• Strong execution in the monolithic construction and Prefabs segments would be the key drivers of growth, contributing to 56% of FY10-13E
sales growth, in our view
• Valuations at a 20% discount to to 5-yr median on 12-m fwd P/E are attractive given the 23% EPS CAGR we forecast over FY10-12E


Sintex Industries
> Valuation mostly inline with 5-year median valuations
> Given the strong growth prospects, current valuations are attractive, in our view
> 12-mo target based on 13.5X FY12E P/E





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