Macmillan India

Macmillan India has it's results coming up in the next 2 weeks. For now, I am looking at a company 33 crs in profits (FY '06-07) and has an EPS of 19.64. At a CMP of Rs. 299 per share, this translates to a trailing PE of 15.22 .. maybe, not that impressive. But here's a company with a solid balance sheet -
a) The company has zero debt in it 's books
b) It has cash of 47 crores (FY '05-06) which corresponds to Rs. 28 per share worth cash
c) The liquid investments (mutual funds and other money market instruments) in the company are around Rs. 32 crs.
d) NCAV (excl invt) = Rs. 56.5 per share and NCAV (incl invt) = Rs. 75.5

Macmillan India is at it's lowest stock price in the last two years. It would be interesting to take a call on the company post it's AGM on June 4th. Keep this stock on your watchlist.