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!!! W E L C O M E !!!
In INDIA, people generally relate to stock market as “EASY MONEY” or “SATTA BAZAAR”. For them it’s purely a GAME or matter of sheer LUCK and nothing more than that. But seldom do they know, by following certain PRINCIPLES and taking INFORMED decision, this same platform has the power to take them from rags to riches. No doubt, it has a certain amount of RISK attached to it. But every business or investment has it. What more, the Finance Ministry has already made the long term capital gain as TAX FREE whereas the short term capital gain is taxed at merely 10%. On the economic front, India’s GDP is growing and is expected to grow at scorching pace of more than 8%. Unfortunately, even today our market is being ruled and dominated by FIRANGI’s money. But I can see, the day is not far when our general PUBLIC will change its perception and start putting MOST of their savings in equities as an ** Investment **.
Remember, "K N O W L E D G E" and "P A T I E N C E" are the key to success.
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Thursday, April 21, 2005

Pitti Lamination - Rs.76.50

Pitti Laminations Ltd, a Hyderabad based company, specialises in standard and special purpose laminations for application in industrial and electrical equipments including Motors, Alternators, Power & Wind Generators, Pumps, Medical Diagnostic Equipment and Aeronautics. It manufactures Electrical Stampings, Press Tools, Stator Motor Core Assemblies, Segmental Core Assemblies, Die Cast Rotors and Electrical Laminations, which are used in all types of motors, alternators, DC machines and railway lighting alternators. It has a very strong clientele and biggies from the power sector including Ador Welding, Alstom, ABB, Best & Crompton, Bharat Bijlee, Crompton Greaves, Kirloskar Electric, BHEL, KSB Pumps, Siemens, Otis Elevator, Toyo Denki Power Systems and Welco Technologies of USA etc. It also supplies electrical laminations and press tools to US markets for use in special purpose motors having a wide and varied applications in weaving, diagnostic medical equipment and in aerospace industries.
Its manufacturing plant is located at Nandigaon Village in Mahaboobnagar District in AP with current capacity of 6000 MT. Due to an industrial uptrend, its plants are working at more than 100% capacity utilization. Recently in April 2005, it started commercial production at its new plant with a capacity of 4,000 MT, which will cater mostly to the export market. With this, the company’s total installed capacity goes up to 10,000 MT. Currently, Pitti Laminations is riding the boom with a healthy order book position and is continuously receiving new export enquires. To cater to this increasing demand, the company is planning to expand further by another 10,000 MT by February 2006. It is also contemplating modernizing some of the equipment at its existing plant.

Incidentally, the company has been de-registered by BIFR in Nov 2004 and is no longer a sick company since its networth has turned positive. In fact, it has already declared and interim dividend of 10% for FY05, which proves the vastly improved financial position of the company. It is expected to come out with encouraging numbers for March’05 quarter and may close FY05 with Net Sales of Rs.45 cr. and NP of Rs.6.25 cr. posting an EPS of Rs.10. For FY06, it can post Sales of Rs.60 cr. with NP of Rs.8.50 cr. reporting an EPS of Rs.14 on its current equity of Rs. 6.20 cr. Investors are advised to buy at declines for a price target of Rs.120 in 12 months.

Posted by RAJAT AGRAWAL / MUMBAI at Thursday, April 21, 2005

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