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Buy Blue Star, target of Rs 385: Sushil Finance

Posted on: June 26th, 2009 and is filed under Brokerage Recommendations.

Sushil Finance has recommended a buy rating on Blue Star, with price target of Rs 385, in its report dated June 09, 2009.

“During FY09, Blue Star’s net sales increased by 15% YoY to Rs 25689.5 million. Its EBIDTA increased by 16% at Rs 2725.8 million, while the EBIDTA margins decreased by 100 bps to 10.6%. It’s APAT increased by 22.8% to Rs 1803.1 million. Its EPS for the year stood at Rs 20. BSL has declared a dividend of 180% during FY09. At the CMP of Rs 298, the stock trades at 11.3x its FY11E earnings and 0.7x FY11E BV. Buy with target of Rs 385,” says Sushil Finance’s report.

source: Moneycontrol

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