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Prabhudas Lilladher recommends to buy Koutons Retail
4 December 2007
Prabhudas Lilladher has started coverage on Koutons Retail India. Analysts recommend to buy Koutons Retail shares with 12-month target price of Rs 1127, which means 61% potential to grow from current level.
Having commenced operations in 2002, the company currently has 1,122 stores in 442 cities. Koutons Retail is expected to expand its total store count to 1,385 in 2007-08 and 2,000 in 2008-09 and further to 2,600 in 2009-10.
Koutons posted net revenue of Rs 402.4 crore and net profit of Rs 34.5 crore in 2006-07 (April-March). Prabhudas expects the company to post revenue of Rs 904.8 crore in 2007-08, Rs 1,515.7 crore in 2008-09, Rs 2,194.6 crore in 2009-10; profit after tax of Rs 80 crore in 2007-08, Rs 134.4 crore in 2008-09, Rs 220.5 crore in 2009-10; and earning per share of Rs 26.2 in 2007-08, Rs44 in 2008-09, Rs 72.2 in 2009-10.
Current share price of Koutons Retail on the BSE: Rs. 736
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