Jan 06, 2014, 11.50 AM IST
Brokerage house Firstcall Research is bullish on La Opala RG and has recommended buy rating on the stock with a target price of Rs 670 in its December 31, 2013 research report.
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Buy La Opala RG; target of Rs 670: Firstcall Research
Brokerage house Firstcall Research is bullish on La Opala RG and has recommended buy rating on the stock with a target price of Rs 670 in its December 31, 2013 research report.
Like this story, share it with millions of investors on M3
Buy La Opala RG; target of Rs 670: Firstcall Research
Brokerage house Firstcall Research is bullish on La Opala RG and has recommended buy rating on the stock with a target price of Rs 670 in its December 31, 2013 research report.
La Opala RG Limited, net sales has increased by 7.34 percent from Rs. 371.13 million for the quarter ended September 30, 2012 to Rs. 398.36 million for the quarter ended September 30, 2013. Net profit was up by 31.92 percent at Rs. 58.94 million in Q2 FY14 against Rs. 44.68 million in Q2 FY13. The company has reported a strong profitable growth in quarter ended 30th SEPTEMBER 2013. During the quarter ended Q2 FY14, EBITDA has increased by 18.03 percent at Rs. 114.10 million from Rs. 96.67 million in the corresponding quarter of previous year. The over all good performance of the company has been possible due to higher utilization of capacity, aggressive marketing policy, introduction of new designs and improvement in product quality.
In the financial year 2013-14, the Company plans to continue with the momentum which has been achieved in the previous year, despite threats and challenges. To achieve this objective, actions have already been initiated to explore untouched market, strengthen distribution network, improve logistics, introduce new product design and upgrade quality, keeping the pricing policy at levels affordable to its customers. Barring unforeseen circumstances, the future of the Company appears to be encouraging. We expect the company to post a CAGR of 16 percent and 30 percent in its top-line and bottom-line respectively. Hence, we recommend 'BUY' on the stock with a target price of Rs 670 on the stock," says Firstcall Research Report.
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