“Surya Pharmaceutical (SPL) has recently entered the business of manufacturing menthol and its derivatives. Menthol is a synthetic product with a wide array of applications in the pharmaceutical industry and the fast moving consumer goods (FMCG) industry. SPL is one of the largest exporters of mint/menthol derivatives and manages state of the art R & D centers that offer the highest quality of CRAMS services. SPL continued to maintain an upward, growing and successful track record and has well positioned in domestic as well as international market. SPL’s recently completed and ongoing expansion is likely to contribute handsomely to the revenue & profitability in the future. SPL is likely to post an EPS of Rs 69 in FY11 and Rs 95 in FY12. At the CMP of Rs 284, the share is trading at a P/E of 4.1x on FY11E and 3.0x on FY12E. We recommend BUY with a target of Rs 430 in the medium-to-long term,†says Sunidhi Securities research report.
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From: http://www.moneycontrol.com/news/recommendations/buy-surya-pharma-targetrs-430-sunidhi-securities_482515.html
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