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Management meet update
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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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