Brics PCG Research recommends to buy EMCO at the price of Rs 470 with a target price of Rs 674.Due its better than expected financial perofrmance in Q4FY06 with sales growing 122% to Rs 170 crore and profit rising 242.7% to Rs 10.68 crore. Net profit for FY06 stood at Rs 25.30 crore, signifying a growth of 163% YoY.The outlook remains strong for the company since it has a bulging order book position worth Rs 430 crore. The stocks trades at a P/E of 12x on FY08E.
