3 explosive growth shares at the top of my shopping list in April

The CSL Limited (ASX:CSL) share price may have risen considerably this year, but here's why I think it is one of three growth shares to buy in April.

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The Australian share market is blessed with a good number of exciting growth shares. But with so many to choose from it can be hard for investors to decide which to invest in.

To try and help you with your decision, I've picked out three of my favourite growth shares on the market right now. Here's why they are at the top of my shopping list in April:

The CSL Limited (ASX: CSL) share price has been one of the biggest movers on the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) so far this year with a 23% gain, but I believe it still has the potential to climb even higher over the next few years. As well as a strong core business, I expect its Seqirus influenza vaccine business to be a key driver of growth in the future. In its recent half-year results the segment delivered a 14% increase in revenue and made a positive contribution to company EBITDA. At 25x annualised earnings its shares are not cheap, but I feel confident that its strong growth prospects more than justify this premium.

I think the current Money3 Corporation Limited (ASX: MNY) share price puts the company in the buy zone right now. Thanks largely to the strong performance from its secured auto loans business, the company recently reported a 37.7% increase in half-year net profit after tax to $13.7 million. This led to management increasing its full-year profit guidance to $27.5 million. Despite the strong performance its shares are still changing hands at just over 11x trailing earnings, which I think makes Money3 a great option for investors today. Especially with its shares providing a trailing fully franked 3.2% dividend.

The Nanosonics Ltd. (ASX: NAN) share price may have rallied 52% in the last 12 months, but I don't believe it is too late to invest in this infection control specialist. Thanks to the growing popularity of the company's ultrasound probe disinfection system, Nanosonics recently reported a 131% jump in half-year sales to $36.1 million. New guidelines to establish broader requirements for high level disinfection of ultrasound probes internationally were recently announced. With its trophon technology ideally positioned to meet the requirements outlined in the new guidelines, I believe Nanosonics' meteoric growth could continue for some time to come.

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of Nanosonics Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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