Tulsian told CNBC-TV18, "Igarashi Motors is into small permanent magnet, DC motors and gear motors. If you see their product mix or their sales performance, 73 percent of their products are exported to US and Europe. And when you read the annual report of the company for FY12, they have been very ambitious and the company has given a target of doubling their sales turnover in next four years or so. So, one can expect a consistent improvement in the top line by about a CARG of 18-20 percent over next four years."
He further added, "On the financial performance front for H1, the top line close to about Rs 145 crore has given an EPS of close to about Rs 5.30 for H1. Going by their financial performance, going by the share holding pattern, 64 percent stake by the promoters and close to about 18-19 percent stake held by three investors."
"The product profile of the company is very good and globally the demand is very good. So with better demand the company also seems to be having a good pricing power. And expected EPS of close to about Rs 10 plus for FY13 can move to about Rs 13-14 in FY14. So taking all this into account, the stock looks quite reasonable at a PE multiple of 7 on current year earnings. At historic earning it is ruling at 5.5-6 times. So taking all this into consideration share can be expected to touch Rs 100 in next 6 months or so."
Disclosure: I have no holdings in the above stock.
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