Carnation Nutra Analogue Foods Ltd.

- by Manisha Kale *

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Future Outlook & Valuation

• The management is aiming for a more than 40% bottomline jump in the current fiscal. The company being in the growth phase is expected to continue with a double-digit growth in the coming years.

• Valuations at the current level look stretched with a P/E ratio of 24. However, taking into picture the expected growth rates, the Forward P/E becomes attractive.

Carnation Nutra Analogue Ltd. Price Chart for the Period: 31/05/04 to 30/05/05

Concluded.

* Manisha Kale, MBA (Finance), is currently working in Indiabulls Financial Services Ltd. as Manager-Equities. She is independent of the management of the researched company. The information contained in the article has been collected from sources believed to be reliable; the author accepts no responsibility for the accuracy of its contents.

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