Valuation: We expect, the company's revenue/earnings to grow at a CAGR of ~13%/~48% over FY16p-18e respectively led by increasing demand for branded footwear, diversified product portfolio and reduction in raw material prices. At CMP of Rs.176, the stock is trading at a PE of 15x/12x of FY17e/18e. We maintain our BUY rating on the stock with the target price of Rs.290 (at a...