Kotak - EASUN REYROLLE

Kotak in their report on Easun Reyrolle,

Easun Reyrolle's products are switchgear, control relays and panels. These products are witnessing healthy demand on the back of investments in the power sector. We see market growth for power products remaining buoyant over the next four to five years on the back of planned capacity additions in the power sector. Thus, revenue visibility for players in the power equipment sector continues to be strong. Easun Reyrolle is trading at 12.7x FY08E earnings. We maintain our BUY with a price target of Rs.900.