Somany Ceramics have come out with good results for Q1. The company has posted a growth of about 15% and if you see the company's ceramic tile category, it has been posting good results as well. In fact, this sector seems to have come back on the radar and if I go by the financial performance for FY11, they had posted topline of Rs 715 crore with EPS of close to about Rs 7 with the bottomline being more or less in line with expectations.
If I compare its share (Rs 45) with comparative peers whether you take the Cera Sanitayware of HSIL , it looks that the share is ruling at a PE multiple of about 6-6.5 taking the earnings of FY12. So taking all this into consideration, the share looks reasonable at Rs 45 and one can expect growth of about maybe 35-40% in next six-eight months the moment the stock gets further researched and comes on the radar.
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