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Apr-Jun 2013 Earnings Preview
Nifty Valuation
Weight‐
Weight‐
FY12 FY13 FY14E FY15E
age (%)
age (%)
FY12 FY13 FY14E FY15E
Banking & Fin. 28.8% Cement 3.4%
PER (x) 14.9 12.9 12.1 10.1 PER (x) 21.4 16.7 15.9 13.5
PAT Growth (%) 26.8 15.6 6.5 20.5 PAT Growth (%) 10.1 28.1 5.2 17.6
FMCG 14.6% Telecom 1.9%
PER (x) 46.2 38.4 33.7 28.2 PER (x) 27.6 51.6 25.8 18.0
PAT Growth (%) 35.9 20.1 14.0 19.8 PAT Growth (%) (29.6) (46.6) 99.7 43.4
Oil & Gas 12.7% Real Estate 0.4%
PER (x) 10.8 10.4 9.7 8.7 PER (x) 25.4 40.9 36.7 28.3
PAT Growth (%) 13.6 3.9 7.3 11.2 PAT Growth (%) (20.5) (37.8) 11.3 29.9
Technology 11.6% Nifty as on July 8 5,812
PER (x) 23.8 19.1 16.1 14.8
PAT Growth (%) 20.3 24.6 18.2 9.2 EPS (Rs) ‐ Free Float 351.9 356.6 391.4 457.0
Growth (%) 8.1 1.4 9.7 16.8
Eng. & Power 8.5% PER (x) 16.5 16.3 14.8 12.7
PER (x) 12.7 12.2 11.3 10.5
PAT Growth (%) 5.8 4.1 7.7 7.5 EPS (Rs) ‐ Free Float
Nifty Cons. 351.9 356.6 405.0 469.4
Auto 8.4% Var. (PLe v/s Cons.) (%) ‐ ‐ (3.4) (2.6)
PER (x) 12.1 13.0 11.5 9.7
PAT Growth (%) 23.1 (6.6) 13.4 17.8
Sensex as on July 8 19,325
Pharma 6.0%
PER (x) 76.5 27.1 27.2 17.9 EPS (Rs) ‐ Free Float 1,149.8 1,128.8 1,249.5 1,462.1
PAT Growth (%) (51.3) 182.2 (0.2) 52.0 Growth (%) 8.5 (1.8) 10.7 17.0
PER (x) 16.8 17.1 15.5 13.2
Metals 3.8%
PER (x) 8.8 9.0 8.6 8.0 Sensex Cons. 1,149.8 1,128.8 1,332.0 1,541.4
PAT Growth (%) 1.2 (2.6) 5.6 7.5 Var. (PLe v/s Cons.) (%) ‐ ‐ (6.2) (5.1)
Cons.: Bloomberg Estimates
For Detailed Break‐up of Company & Sector wise please refer Page No. 177‐185
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