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Waterbase at Rs 118 , is a Buy , With increase in its capacity 3 fold frm next year onwards 
Installed capacity at 35,000 MTPA. Post merger of PFL, expected capacity will be 1,10,000 MTPA to be higher by 300% ,without any cash outgo or Additional Investment
Increase in scale expected to be margin accretive – incremental revenues to enhance return ratios
At present waterbase is working on full capacity n Annual Profits are Rs 22 crs n if capacity increases to 300% thn on conservative basis we shud get profit for FY2017 at 22 multiply 2.50 times = Rs 55 Crs , n on fully diluted Equity base of Rs 41.40 Crs FV Rs 10 , it gives us an Earnings of Rs 13 per share , So even Nw we can buy wit a Target price of Rs 235 in next 12 months , a clear cut 100% Return stock 

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