Small & Beautiful (Guj)
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On year on year basis, March’08 quarter nos of Tera Software (50.00) looks very disappointing as revenue declined by nearly 50% to Rs 16 cr and PAT fell by 40% to Rs 3 cr. But if we see quarter on quarter basis it reported highest sales among all the four quarters of FY08. So it implies that company may have completed some big e-governance project in last March ’07 quarter. Still for the entire FY08 company has posted marginal growth in revenue to Rs 59 cr and 15% increase in PAT to Rs 12.25 cr after making highest tax provisioning of 38%. It reported an EPS of Rs 11 on equity of Rs 12.50 cr and is expected to declare 25% dividend for the fiscal. Of late, company has been selected as empanelled vendor for rollout of IT services in govt sector through National Informatics Centre Services Inc. for a period of one year which can be extended for another one year. Looking at its strong order book position it may end FY09 with sales of Rs 75 cr and profit of Rs 16 cr i.e. EPS of Rs 13. Secondly, as per reliable source company is looking to dispose off its 20 acre surplus land in Hyderabad which is worth Rs 40 cr. Once the deal is finalized, share price will shoot up vertically.
Hind Rectifiers (130.00) is one of the leading manufacturers of locomotive transformers, rectifiers, inverters, and power electronics like diodes and thyristors (types of semiconductor devices) etc which are basically used in converting the current from AC to DC and vice versa. Incidentally, it derives more than 50% of its revenues from railways and 20% from power industry. Offlate, company has set up two new units in tax free zone of Uttranchal and has just begun the commercial production at these plants. Moreover, recently company has signed a technical collaboration agreement with M/s. Infineon Technologies AG, Germany for manufacturing of IGBT based primeSTACK which will complement its existing products. It may end FY08 with sales of Rs 95 cr and PAT of around Rs 11 cr i.e. EPS of Rs 15 on a very tiny equity of Rs 1.50 cr having a face value of Rs 2/- per share. Importantly, company is estimated to report an EPS of nearly Rs 20 for FY09 and at a modest discounting by 12x times share price can double in 12~15 months.
Gontermann Piepers Ltd (60.00), an Ispat Group company is one of the leading manufacturers of Cast rolls and Forged rolls which find application primarily in steel industry. Not only in India, its products are widely appreciated in USA, Canada, China, South Africa, Taiwan, South Korea, Thailand, Indonesia and many more countries. Considering the future trend of business globally, company is giving thrust for new product development i.e. enhanced carbide rolls in ICDP variety and High Speed Steel Rolls. With domestic as well international steel industry adding capacity at fast pace, company has recently undergone expansion-cum-modernization plan of Rs.40 cr. to enhance its production capcity to 18,000 MT of fininshed roll from 12,000 MT. Further company is planning for some big expansion in future as it is contemplating to raise nearly 200 cr thru private placement/FCCB/GDR route. It is also scouting for inorganic growth opportunities in Europe to capitalize on current boom in steel industry and cater to European and US markets. For FY08 it is estimated to clock a turnover of Rs 175 cr and profit of Rs 15 cr i.e. EPS of Rs 11 on current equity of Rs 13.90 cr. Scrip can shoot up to Rs 100 in 6~9 months.
Indo Asian Fuse Gear (98.00) manufactures wide range of electrical circuit protection equipment including distribution boards, switch boards, switch panels, fuse switches, MCCBs, HRC Fuses, MCBs, RCDs, etc. Besides, it’s one of the largest manufacturers of CFLs and MCB’s in India. To capitalize the ongoing boom, it is diversifying into power distribution business on behalf of state electricity board on franchise basis. Meanwhile, it has forayed into cables & wires manufacturing business as well with a planned investment of 100 cr in phases. For the higher end segment, company is setting up a plant in Haridwar under a joint venture with Simon Holding (Spain) for manufacturing home and building automation products for the first time in India. At the same time it is putting up a facility in Saudi Arabia thru a tie up with Saudi National Glass for production of Compact Fluorescent Lamps (CFLs) and High Intensity Discharge Lamps (HID Lamps). For FY08 it is expected to clock a turnover of Rs 280 cr and PAT of Rs 16 cr on a conservative basis which works out to an EPS of Rs 10.50 on current equity of Rs 15.30 cr. At an EV of Rs 225 cr its available fairly cheap.
Hind Rectifiers (130.00) is one of the leading manufacturers of locomotive transformers, rectifiers, inverters, and power electronics like diodes and thyristors (types of semiconductor devices) etc which are basically used in converting the current from AC to DC and vice versa. Incidentally, it derives more than 50% of its revenues from railways and 20% from power industry. Offlate, company has set up two new units in tax free zone of Uttranchal and has just begun the commercial production at these plants. Moreover, recently company has signed a technical collaboration agreement with M/s. Infineon Technologies AG, Germany for manufacturing of IGBT based primeSTACK which will complement its existing products. It may end FY08 with sales of Rs 95 cr and PAT of around Rs 11 cr i.e. EPS of Rs 15 on a very tiny equity of Rs 1.50 cr having a face value of Rs 2/- per share. Importantly, company is estimated to report an EPS of nearly Rs 20 for FY09 and at a modest discounting by 12x times share price can double in 12~15 months.
Gontermann Piepers Ltd (60.00), an Ispat Group company is one of the leading manufacturers of Cast rolls and Forged rolls which find application primarily in steel industry. Not only in India, its products are widely appreciated in USA, Canada, China, South Africa, Taiwan, South Korea, Thailand, Indonesia and many more countries. Considering the future trend of business globally, company is giving thrust for new product development i.e. enhanced carbide rolls in ICDP variety and High Speed Steel Rolls. With domestic as well international steel industry adding capacity at fast pace, company has recently undergone expansion-cum-modernization plan of Rs.40 cr. to enhance its production capcity to 18,000 MT of fininshed roll from 12,000 MT. Further company is planning for some big expansion in future as it is contemplating to raise nearly 200 cr thru private placement/FCCB/GDR route. It is also scouting for inorganic growth opportunities in Europe to capitalize on current boom in steel industry and cater to European and US markets. For FY08 it is estimated to clock a turnover of Rs 175 cr and profit of Rs 15 cr i.e. EPS of Rs 11 on current equity of Rs 13.90 cr. Scrip can shoot up to Rs 100 in 6~9 months.
Indo Asian Fuse Gear (98.00) manufactures wide range of electrical circuit protection equipment including distribution boards, switch boards, switch panels, fuse switches, MCCBs, HRC Fuses, MCBs, RCDs, etc. Besides, it’s one of the largest manufacturers of CFLs and MCB’s in India. To capitalize the ongoing boom, it is diversifying into power distribution business on behalf of state electricity board on franchise basis. Meanwhile, it has forayed into cables & wires manufacturing business as well with a planned investment of 100 cr in phases. For the higher end segment, company is setting up a plant in Haridwar under a joint venture with Simon Holding (Spain) for manufacturing home and building automation products for the first time in India. At the same time it is putting up a facility in Saudi Arabia thru a tie up with Saudi National Glass for production of Compact Fluorescent Lamps (CFLs) and High Intensity Discharge Lamps (HID Lamps). For FY08 it is expected to clock a turnover of Rs 280 cr and PAT of Rs 16 cr on a conservative basis which works out to an EPS of Rs 10.50 on current equity of Rs 15.30 cr. At an EV of Rs 225 cr its available fairly cheap.
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