Decent Numbers from Subros. Share Price 246. Target 350. 6 months. SL 210. Earlier in February 2017, we had recommended a buy in Subros at 200 for a target of 250 in 3 months. Stock had rallied to a price above 270 in 3 months.
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Subros: India’s leading Thermal products company for automotive applications
Subros Limited, founded in 1985 as a joint venture public limited company with 40% ownership by Suri family of India and 13% ownership by Denso Corporation & Suzuki Motor Corporation each, is the leading manufacturer of thermal products for automotive applications in India, in technical collaboration with Denso.
Subros has manufacturing plants at Noida (2 nos.), Manesar, Pune, Chennai and Sanand with an annual capacity of 1.5 Million AC Kits per annum beside a well equipped R&D Center and Tool Room at Noida.
Market Cap: 1470
Current Market Price: 246.
Adding zone: 225-235.
Industrial PE: 60.
Subros has posted decent numbers in the recent quarter with an quarterly EPS of 1.8 (Annualised EPS: 7.2). At 50x annualised EPS. We are expecting a target price of 50 x 7.2=360. We have a time frame of 6 months, since the upside potential is 40%. New 52 week high can be expected soon.
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