Graphite India financials are enclosed -
Share capital : Rs. 29.38 crs
Loans : Rs. 524.93 crs
NCA : Rs. 455.23 crs
FV : Rs. 2 per share
Dividend per share : Rs. 1.20 (adjusted for stock split)
Profit ('05-'06) : Rs. 62.95 crs
CMP : Rs. 55.9
Ben Graham would have been extremely uninterested in Graphite India. A negative NCAV of -4.9 rupees per share, dividend yield of just 2.14% .. virtually no margin of safety.
The annual report shows that Graphite India is a cash rich company (Rs. 143 crs or Rs. 10 per share in cash). This might however be used for capex requirements. Further, the company has put in 4 strong quarters of performance and profits will be over 100 crs for the year .. an EPS of Rs. 7.14. The new PE is just around 7.10.
Sales of the company are on the rise .. 513 crs ('04-05), 615 crs ('05-06) and 820 crs ('06-07). So are profits. The overall industry buoyancy is good over the long term and also the short term. My kind of company. I bought shares in the company at Rs. 49.
Monday, May 28, 2007
Graphite India
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Hi
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