STOCK WATCH
Man Industries (35.00) is one of India's largest producers and exporter of large diameter Longitudinal submerged arc welded (LSAW) pipes and Helically submerged arc welded (HSAW) pipes. Infact it is the only company in India to manufacture 18 mtr long HSAW pipe. Recently, company has started a new production line for HSAW pipes with a name plate capacity of 200,000 MTPA thereby equalizing the total production capacity to 500,000 MTPA each for LSAW as well as HSAW. Remarkably it has also bagged new orders to the tune of Rs 1100 craking the current order book position to Rs 1500 cr. To become a global player, company is setting up a HSAW pipe manufacturing plant with an capacity of 300,000 MTPA in USA under a capex of Rs 400~450 cr. Despite company posted disappointing nos for Q1FY09, still on the back of expanded capacity it may report a topline of Rs 1650 cr and bottomline of Rs 60 cr i.e. EPS of Rs 11 on current equity of Rs 26.60 cr. As FCCB is convertible at much higher price than the CMP, bond holders may not opt for conversion thereby eliminating the risk of equity dilution in near future. With the high of Rs 177 in Jan’08, scrip is now available at cheap valuation with a market cap of less than Rs 200 cr
Jyoti Structure (55.00) has an expertise to take on turnkey projects for transmission lines from 33 kV to 800 kV and substations upto 400 kV irrespective of terrain, location and requirements of power utilities within and outside India. In order to provide end-to-end solutions company has two manufacturing facilities which are capable of making proto types, fabricating and galvanizing transmission towers and structures, microwave towers, wind mill tower, railway electrification structures, etc up to 76,000 MTPA. Besides, its wholly owned subsidiary JSL Structures is having a capacity to manufacture another 19800 tons of transmission line towers. On the back of huge flow of investments in the power transmission and distribution segment, its current order book stands at an all time high value of more than Rs 3500 cr. Meanwhile, company has reported encouraging set of nos for both Q1 & Q2, and is expected to end FY09 with topline of Rs 1650 cr and PAT of Rs 75 cr leading to an EPS of Rs 9 on current equity of Rs 16.20 cr with face value as Rs 2/- per share. Apart from above company is betting on international market and has formed a couple of joint venture companies in UAE and South Africa. Keep accumulating at sharp declines.
For the Sept’08 qtr, JMC Projects (55.00) reported 75% rise in revenue to Rs 323 cr and 60 increase in operating profit to Rs 24.70 cr. But due to higher interest and depreciation cost, PAT remained flat at Rs 6.80 cr. Being a part of Kalpataru group is among the top seven players for building and factory construction in India & has also been recognized as India’s sixth fastest growing company by the latest “Business Today” June’08 edition. It has successfully ventured into fields of turnkey execution involving civil, mechanical, electrical, HVAC, fire fighting, architectural and landscaping works. Lately, it has started focusing on infrastructure and power projects and is aggressively bidding for contracts to construct bridges & flyovers, roads & highways, railways stations, marine work, water supply & irrigation projects and construction of power plant. This has resulted into massive order in hand position of more than Rs 2000 cr as on March 2008 which is twice its FY08 turnover. For H1FY09 it has already posted an EPS of Rs 8 with 75% rise in sales to Rs 636 cr and 20% increase in NP to Rs 14.70 cr. In future company intends to up railways, airports and water management projects on an EPC basis which will further add to its bulging order book. For FY09 it may clock a turnover of Rs 1350 cr and profit of Rs 25 cr for FY09 leading to an EPS of Rs 14 on current equity of Rs 18.14 cr. A screaming buy.
Voltamp Transformer (310.00) has special expertise in production of dry type vacuum resin impregnated (upto 3 MVA/11 kV class) and cast resin transformers (upto 7.5 MVA/33 kV class) apart from manufacturing regular oil filled power & distribution transformers, induction furnace transformers & unitized substations. Infact, company is the market leader in dry type transformers with around 40% market share. Currently company is in the midst of putting up a Greenfield plan with an installed capacity of 4000 MVA thereby taking the total transformer manufacturing capacity to 13000 MVA. This plant being set up with an investment of Rs 35 cr is expected to get ready by April 2009. For the Sept’08 company reported 15% growth in sales to Rs 170 cr whereas PAT jumped up 50% to Rs 27 cr. Incidentally it has already posted an EPS of Rs 50 for H1FY09. And with the recent fall in copper prices, its margin is expected to improve which will positively impact the bottomline going forward. So for the entire FY09 it may clock a turnover of Rs 650 cr and profit of Rs 85 cr i.e. EPS of Rs 84 on equity of Rs 10.10 cr. Being debt free and having huge reserves of more than Rs 150 cr, liquid cash worth Rs 60 cr, ROCE of 95% and ROE of 60% it’s a screaming buy.
Jyoti Structure (55.00) has an expertise to take on turnkey projects for transmission lines from 33 kV to 800 kV and substations upto 400 kV irrespective of terrain, location and requirements of power utilities within and outside India. In order to provide end-to-end solutions company has two manufacturing facilities which are capable of making proto types, fabricating and galvanizing transmission towers and structures, microwave towers, wind mill tower, railway electrification structures, etc up to 76,000 MTPA. Besides, its wholly owned subsidiary JSL Structures is having a capacity to manufacture another 19800 tons of transmission line towers. On the back of huge flow of investments in the power transmission and distribution segment, its current order book stands at an all time high value of more than Rs 3500 cr. Meanwhile, company has reported encouraging set of nos for both Q1 & Q2, and is expected to end FY09 with topline of Rs 1650 cr and PAT of Rs 75 cr leading to an EPS of Rs 9 on current equity of Rs 16.20 cr with face value as Rs 2/- per share. Apart from above company is betting on international market and has formed a couple of joint venture companies in UAE and South Africa. Keep accumulating at sharp declines.
For the Sept’08 qtr, JMC Projects (55.00) reported 75% rise in revenue to Rs 323 cr and 60 increase in operating profit to Rs 24.70 cr. But due to higher interest and depreciation cost, PAT remained flat at Rs 6.80 cr. Being a part of Kalpataru group is among the top seven players for building and factory construction in India & has also been recognized as India’s sixth fastest growing company by the latest “Business Today” June’08 edition. It has successfully ventured into fields of turnkey execution involving civil, mechanical, electrical, HVAC, fire fighting, architectural and landscaping works. Lately, it has started focusing on infrastructure and power projects and is aggressively bidding for contracts to construct bridges & flyovers, roads & highways, railways stations, marine work, water supply & irrigation projects and construction of power plant. This has resulted into massive order in hand position of more than Rs 2000 cr as on March 2008 which is twice its FY08 turnover. For H1FY09 it has already posted an EPS of Rs 8 with 75% rise in sales to Rs 636 cr and 20% increase in NP to Rs 14.70 cr. In future company intends to up railways, airports and water management projects on an EPC basis which will further add to its bulging order book. For FY09 it may clock a turnover of Rs 1350 cr and profit of Rs 25 cr for FY09 leading to an EPS of Rs 14 on current equity of Rs 18.14 cr. A screaming buy.
Voltamp Transformer (310.00) has special expertise in production of dry type vacuum resin impregnated (upto 3 MVA/11 kV class) and cast resin transformers (upto 7.5 MVA/33 kV class) apart from manufacturing regular oil filled power & distribution transformers, induction furnace transformers & unitized substations. Infact, company is the market leader in dry type transformers with around 40% market share. Currently company is in the midst of putting up a Greenfield plan with an installed capacity of 4000 MVA thereby taking the total transformer manufacturing capacity to 13000 MVA. This plant being set up with an investment of Rs 35 cr is expected to get ready by April 2009. For the Sept’08 company reported 15% growth in sales to Rs 170 cr whereas PAT jumped up 50% to Rs 27 cr. Incidentally it has already posted an EPS of Rs 50 for H1FY09. And with the recent fall in copper prices, its margin is expected to improve which will positively impact the bottomline going forward. So for the entire FY09 it may clock a turnover of Rs 650 cr and profit of Rs 85 cr i.e. EPS of Rs 84 on equity of Rs 10.10 cr. Being debt free and having huge reserves of more than Rs 150 cr, liquid cash worth Rs 60 cr, ROCE of 95% and ROE of 60% it’s a screaming buy.
1 comment:
Stock market news given in this blog are amazing and useful for traders. Epic Research recommends for beneficial stock trading tips for those people who don't have much knowledge about the market.
Post a Comment