Ever heard of this stock?
I was surprised to find that Reliance Long Term Equity fund holds over 3% of the m-cap of this company (here, Mar-31). And although this is the only stock which has any stake of repute in the company ... on the face of it, the stock seems quite attractive.
a) Sales have increased in each of the last 5 quarter (Dec-06 : 54 crs, Dec-07 : 163 crs). So have net profits (Dec-06 : 2 crs, Dec-07 : 58 crs)
b) EPS has improved every quarter (1.76, 5.66, 7.07, 10.79)
c) I expect the company to end the year with a profit of Rs. 95 crs which will mean an annual EPS of 27.90. The corresponding PE ratio will be 12 .. a very decent number.
d) The stock has recently been beaten down from Rs. 650 levels to current levels of Rs. 310 per share (9 Apr)
I am not able to find the annual report of the company for a check on it's balance sheet and profit & loss account. Co-incidentally, India Infoline came out with an analyst report about the company on April 3rd, 2008. The report was quite flattering !
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