22 December 2011

Management meet update Balkrishna Industries ::Emkay

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Management meet update

Balkrishna Industries
Reco: NOT RATED
CMP: Rs160
Target Price: Not Rated
Growth on track, Not Rated
·      Focused strategy, niche product and differentiated distribution model to ensure profitable growth
·      Expanding geographical reach (existing/new) and capacity addition (~20% CAGR FY11-15) to enable volume momentum
·      Valuations attractive at PER/EV-EBITDA at 8.3x/6x of FY11 earnings. We do not have rating on the stock

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