STOCK WATCH
As Spanco Telesystem (95.00) transferred its BPO division on slump sale basis to its indirect wholly owned subsidiaries with effect from March 2008, its fourth quarter nos, includes the results of BPO divisions for only two months. Still on a standalone basis it recorded 30% growth in sales to Rs 139 cr. But due to very high interest cost to the tune of 14 cr its NP declined by 60% to Rs 3.70 cr. However for entire FY08 it recorded 30% and 20% increase in topline and bottomline to Rs 565 cr and Rs 38 cr respectively. This works out to an EPS of Rs 18 on equity of Rs 20.65 cr. Company’s core competency lies in offering telecom systems integration which includes implementation of multi-location, multi-services converged networks for carrying diverse multimedia traffic (voice, data & video) based on latest technologies like ATM, MPLS, Frame Relay, TCP/IP etc. Its also active in RFID space thru another 51% subsidiary. On the back of strong order book position, it is expected to report total revenue of Rs 750 cr and PAT of Rs 50 cr i.e. EPS of Rs 24 on consolidated basis. Company has allotted 28.50 lakh warrants @ Rs 215 which may not get converted considering the CMP. A good scrip to accumulate.
For the March’08 quarter, Numeric Power (590.00), the undisputed leader in uninterrupted power supply (UPS) systems reported 30% growth in sales to Rs 108 cr whereas NP more than tripled to Rs 10 cr. Accordingly, for the full year it registered 40% growth in sales to Rs 387 cr with PAT more than doubled to Rs 40 cr leading to an EPS of Rs 80 on a tiny equity of Rs 5 cr.. Apart from manufacturing UPS, stabilizers and power conditioners, company also undertakes turnkey projects and offers end to end solution for SCADA/EMS package, large network of industrial process, power transmission support systems and distribution management. It even has a joint venture with the French UPS major SOCOMEC SA to distribute, market and service the 3 phase range of UPS systems (greater than 10 KVA) products to customers in India. As per unconfirmed reports, around 75% of the ATMs in the country are fitted with UPS supplied by the company. For FY09 it may report sales of Rs 450 cr and profit of Rs 45 cr i.e. EPS of Rs 89. Secondly, with an estimated reserve of more than Rs 125 cr on tiny equity of Rs 5 cr, scrip is fully ripe for liberal bonus as well. Keep adding on declines.
Lloyd Electric (85.00) posted satisfactory numbers for the March qtr and ended FY08 with sales of Rs 668 cr (up 40%) and net profit of Rs 60 cr (increase of 40%) i.e. EPS of Rs 19 on equity of Rs 31 cr. Being India’s largest manufacturer of evaporator and condenser (E&C) coils with around 60% market share, company has got itself forward integrated into lucrative business of contract manufacturing of window / split air conditioners for various MNCs in India. It is also into manufacturing of roof mounted packaged unit i.e. packaged AC for railway coaches on turnkey basis and even has an agreement with Australian company for metro rail AC units. Further company is contemplating to diversify into production of roll bond and frost free coils for refrigerators and has tied up with a Korean company. But most importantly, couple of months ago it acquired 100% stake Luvata Czech s.r.o. in Prague, Czech Republic which is also into manufacturing of heat exchangers / coils and has good presence in European market. On a consolidated basis it is expected to clock a turnover of Rs 850 cr and PAT of Rs 65 cr i.e. EPS of Rs 21 on current equity. Company has allotted 50 lakh warrants @ Rs 225 which may not get converted considering the CMP. A screaming buy at current levels.
After hitting a new low of Rs 49 last week, share price of Quintegra Solutions Ltd (62.00) has recovered somewhat by 30% to current levels. Company’s broad capabilities include application management, product engineering, enterprise solutions such as SAP, testing & validation, technology consulting, professional services and proprietary product suites. Presently, company focuses on six main business verticals including BFSI, Heatlhcare, Education & Training, Engineering Services, Logistic and Telecom. Unlike other companies, Quintegra has invested in creating products in its chosen verticals. Importantly in Oct 2007, it acquired M/s. PA Corporation, Virginia, USA (PAC) which specializes in high end IT consulting and leadership in middle-space IT services such as enterprise application services, date architecture & data validation, audit compliance documentation, business process management, integration architecture & deployment and testing & configuration management. Financially, for FY08 Quintegra’s top line as well as bottom-line has increased by five times to Rs 390 cr and Rs 35 cr respectively thereby posting an EPS of Rs 13 on equity of Rs 26.80 cr. For FY09 it is expected to earn a NP of Rs 42 cr on revenue of around Rs 600 cr i.e. EPS of Rs 14 on diluted equity of Rs 29.50 cr. However company is looking to raise Rs 400 cr thru equity route which will dilute the share capital significantly.
For the March’08 quarter, Numeric Power (590.00), the undisputed leader in uninterrupted power supply (UPS) systems reported 30% growth in sales to Rs 108 cr whereas NP more than tripled to Rs 10 cr. Accordingly, for the full year it registered 40% growth in sales to Rs 387 cr with PAT more than doubled to Rs 40 cr leading to an EPS of Rs 80 on a tiny equity of Rs 5 cr.. Apart from manufacturing UPS, stabilizers and power conditioners, company also undertakes turnkey projects and offers end to end solution for SCADA/EMS package, large network of industrial process, power transmission support systems and distribution management. It even has a joint venture with the French UPS major SOCOMEC SA to distribute, market and service the 3 phase range of UPS systems (greater than 10 KVA) products to customers in India. As per unconfirmed reports, around 75% of the ATMs in the country are fitted with UPS supplied by the company. For FY09 it may report sales of Rs 450 cr and profit of Rs 45 cr i.e. EPS of Rs 89. Secondly, with an estimated reserve of more than Rs 125 cr on tiny equity of Rs 5 cr, scrip is fully ripe for liberal bonus as well. Keep adding on declines.
Lloyd Electric (85.00) posted satisfactory numbers for the March qtr and ended FY08 with sales of Rs 668 cr (up 40%) and net profit of Rs 60 cr (increase of 40%) i.e. EPS of Rs 19 on equity of Rs 31 cr. Being India’s largest manufacturer of evaporator and condenser (E&C) coils with around 60% market share, company has got itself forward integrated into lucrative business of contract manufacturing of window / split air conditioners for various MNCs in India. It is also into manufacturing of roof mounted packaged unit i.e. packaged AC for railway coaches on turnkey basis and even has an agreement with Australian company for metro rail AC units. Further company is contemplating to diversify into production of roll bond and frost free coils for refrigerators and has tied up with a Korean company. But most importantly, couple of months ago it acquired 100% stake Luvata Czech s.r.o. in Prague, Czech Republic which is also into manufacturing of heat exchangers / coils and has good presence in European market. On a consolidated basis it is expected to clock a turnover of Rs 850 cr and PAT of Rs 65 cr i.e. EPS of Rs 21 on current equity. Company has allotted 50 lakh warrants @ Rs 225 which may not get converted considering the CMP. A screaming buy at current levels.
After hitting a new low of Rs 49 last week, share price of Quintegra Solutions Ltd (62.00) has recovered somewhat by 30% to current levels. Company’s broad capabilities include application management, product engineering, enterprise solutions such as SAP, testing & validation, technology consulting, professional services and proprietary product suites. Presently, company focuses on six main business verticals including BFSI, Heatlhcare, Education & Training, Engineering Services, Logistic and Telecom. Unlike other companies, Quintegra has invested in creating products in its chosen verticals. Importantly in Oct 2007, it acquired M/s. PA Corporation, Virginia, USA (PAC) which specializes in high end IT consulting and leadership in middle-space IT services such as enterprise application services, date architecture & data validation, audit compliance documentation, business process management, integration architecture & deployment and testing & configuration management. Financially, for FY08 Quintegra’s top line as well as bottom-line has increased by five times to Rs 390 cr and Rs 35 cr respectively thereby posting an EPS of Rs 13 on equity of Rs 26.80 cr. For FY09 it is expected to earn a NP of Rs 42 cr on revenue of around Rs 600 cr i.e. EPS of Rs 14 on diluted equity of Rs 29.50 cr. However company is looking to raise Rs 400 cr thru equity route which will dilute the share capital significantly.
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