Unicon Securities has the following Reviews and Recommendation,
SRS is the only Indian company in consumer segment to provide umbrella service in malls by operating in numerous consumer verticals like cinema, retail,
food & beverages and jewellery. It operates in a niche bracket in retail space which is gaining support from GoI through FDI approval. SRS has shown an
extra-ordinary execution capability by growing its jewellery business at a CAGR of 861% over FY09-11. Hence, considering these factors we believe that SRS should command a premium over of its peers.
SMC has the following Recommendation,
Considering the P/E valuation on the upper end of the price band of `65, the stock is priced at pre-issue P/E of 18.07x on its annualised FY11 EPS of 3.60. Post issue, the stock discounts its FY11 annualised earnings per share of 2.69 by 24.14x. Looking on to the P/B ratio at 65, the stock is priced at P/B ratio of 2.16x on the pre-issue book value of 30.03 and on the post issue book value of 38.82, the P/B comes out to 1.67x.
On the lower end of the price band of 58, the stock is priced at pre-issue P/E of 16.13x on its annualised FY11 EPS of 3.60. Post issue, the stock discounts its FY11 annualised earnings per share of 2.69 by 21.54x. Looking on to P/B ratio at 58, the stock is priced at P/B ratio of 1.93x on the pre-issue book value of 30.03 and on the post-issue book value of 38.82, the P/B comes out to 1.49x.
