This equity research report provides an overview of Shaily Engineering Plastics Ltd, a manufacturer of plastic components and subassemblies. Some key points:
- The company has five manufacturing facilities in Gujarat producing components for industries like FMCG, pharmaceuticals, auto, and more.
- It caters to major domestic and international clients and has long-standing relationships. Exports are diversified globally.
- A new plant produces child-resistant packaging for pharmaceuticals with capacity for 100 million units. Approval from two drug companies received.
- The report recommends the stock as a potential multibagger, setting a target price significantly higher than the current market price.
This document provides an equity research report on Premier Explosives Ltd, an Indian company that manufactures explosives and accessories. The report discusses the company's background, financial performance, peer comparison, and risks. It recommends the stock as a potential multibagger, citing the company's consistent growth, expansion into new markets, and upside potential given government plans driving demand in the mining and power industries. The target price is Rs. 150, representing upside of over 100% from the current market price.
Tide Water Oil is an Indian lubricant company with a market cap of Rs. 6,747 crores. It has seen revenue and profit growth of 13.61% and 21% respectively over the past 3 years. The report recommends the stock with an 18-24 month target price of Rs. 12,500, citing opportunities for international expansion through a recent acquisition and a technical collaboration with a major Japanese lubricant company. However, risks include volatility in base oil prices and competition from large players in the domestic market.
Cera Sanitaryware Ltd is an Indian ceramics company that manufactures sanitaryware and bathroom fittings. It has grown at a rate of over 25% in the past 3 years and aims to become India's largest sanitaryware producer. Recent developments include unveiling a new logo and branding identity to appeal to younger customers, signing Bollywood actress Dia Mirza as a brand endorser, and plans to acquire an Italian brand or factory to enter the high-end sanitaryware segment in India and globally. The company is also expanding its manufacturing capacity in India through investments of Rs. 100 crores.
This document provides an equity research report on Acrysil (India) Ltd, which manufactures quartz and granite kitchen sinks. Some key points:
- Acrysil is a leading manufacturer of composite quartz sinks in India and exports to over 30 countries. Exports account for 80% of revenues.
- Recent developments include adding new institutional customers, entering new geographies, and launching new product lines in India to target the premium kitchen segment.
- Financial performance has been positive with rising revenues, though profits have recently declined due to higher raw material costs. Forecasts estimate continued revenue and profit growth.
- Risks include reliance on exports and susceptibility to global economic conditions, as well as inflation
Camlin Fine Chemicals Ltd is an Indian manufacturer and exporter of bulk drugs, fine chemicals, and food grade products. The company produces active pharmaceutical ingredients, food antioxidants, and sweeteners. It has two business divisions: Food Ingredients and Industrial Products. Camlin has a research and development facility focused on product and process improvements. The company has expanded its production capacity over the years through investments and acquisitions. Camlin's key products include the food antioxidants TBHQ and BHA, as well as the sweetener sucralose.
Plastiblends India Ltd is India's largest manufacturer and exporter of color and additive masterbatches and thermoplastic compounds. The report provides an overview of the company's background, facilities, products, achievements and financial performance. It also discusses the Indian masterbatch market outlook, forecasting growth of 23% annually until 2018 driven by increased plastic usage in industries like packaging, healthcare and automotive. The company has a leading 12% market share in India's fragmented masterbatch industry.
Rane Brake Lining Ltd (RBL) is an auto ancillary company and domestic leader in friction material products. It manufactures brake linings, disc pads, clutch facings, and composite brake blocks. RBL was awarded the prestigious Deming Grand Prize in 2013, marking a milestone in its excellence journey. The company has four manufacturing plants in India and supplies products to automotive OEMs, the Indian Railways, and exports to 15 countries. RBL is led by a strong management team focused on quality and research & development.
SMS Pharmaceuticals is an integrated pharmaceutical company focused on API manufacturing with a presence in over 70 countries. The report provides an equity research analysis on SMS Pharmaceuticals with a target price of Rs. 1100 based on a 18-24 month timeframe. Key details include SMS Pharma's financial performance over the last 6 quarters, expected future earnings, peer comparison, and risks. The report recommends SMS Pharma given its robust product portfolio, largest producer of anti-ulcer products, manufacturing facilities approved by USFDA and European authorities, and plans to invest in expanding facilities in Andhra Pradesh.
This document provides an equity research report on Premier Explosives Ltd, an Indian company that manufactures explosives and accessories. The report discusses the company's background, financial performance, peer comparison, and risks. It recommends the stock as a potential multibagger, citing the company's consistent growth, expansion into new markets, and upside potential given government plans driving demand in the mining and power industries. The target price is Rs. 150, representing upside of over 100% from the current market price.
Tide Water Oil is an Indian lubricant company with a market cap of Rs. 6,747 crores. It has seen revenue and profit growth of 13.61% and 21% respectively over the past 3 years. The report recommends the stock with an 18-24 month target price of Rs. 12,500, citing opportunities for international expansion through a recent acquisition and a technical collaboration with a major Japanese lubricant company. However, risks include volatility in base oil prices and competition from large players in the domestic market.
Cera Sanitaryware Ltd is an Indian ceramics company that manufactures sanitaryware and bathroom fittings. It has grown at a rate of over 25% in the past 3 years and aims to become India's largest sanitaryware producer. Recent developments include unveiling a new logo and branding identity to appeal to younger customers, signing Bollywood actress Dia Mirza as a brand endorser, and plans to acquire an Italian brand or factory to enter the high-end sanitaryware segment in India and globally. The company is also expanding its manufacturing capacity in India through investments of Rs. 100 crores.
This document provides an equity research report on Acrysil (India) Ltd, which manufactures quartz and granite kitchen sinks. Some key points:
- Acrysil is a leading manufacturer of composite quartz sinks in India and exports to over 30 countries. Exports account for 80% of revenues.
- Recent developments include adding new institutional customers, entering new geographies, and launching new product lines in India to target the premium kitchen segment.
- Financial performance has been positive with rising revenues, though profits have recently declined due to higher raw material costs. Forecasts estimate continued revenue and profit growth.
- Risks include reliance on exports and susceptibility to global economic conditions, as well as inflation
Camlin Fine Chemicals Ltd is an Indian manufacturer and exporter of bulk drugs, fine chemicals, and food grade products. The company produces active pharmaceutical ingredients, food antioxidants, and sweeteners. It has two business divisions: Food Ingredients and Industrial Products. Camlin has a research and development facility focused on product and process improvements. The company has expanded its production capacity over the years through investments and acquisitions. Camlin's key products include the food antioxidants TBHQ and BHA, as well as the sweetener sucralose.
Plastiblends India Ltd is India's largest manufacturer and exporter of color and additive masterbatches and thermoplastic compounds. The report provides an overview of the company's background, facilities, products, achievements and financial performance. It also discusses the Indian masterbatch market outlook, forecasting growth of 23% annually until 2018 driven by increased plastic usage in industries like packaging, healthcare and automotive. The company has a leading 12% market share in India's fragmented masterbatch industry.
Rane Brake Lining Ltd (RBL) is an auto ancillary company and domestic leader in friction material products. It manufactures brake linings, disc pads, clutch facings, and composite brake blocks. RBL was awarded the prestigious Deming Grand Prize in 2013, marking a milestone in its excellence journey. The company has four manufacturing plants in India and supplies products to automotive OEMs, the Indian Railways, and exports to 15 countries. RBL is led by a strong management team focused on quality and research & development.
SMS Pharmaceuticals is an integrated pharmaceutical company focused on API manufacturing with a presence in over 70 countries. The report provides an equity research analysis on SMS Pharmaceuticals with a target price of Rs. 1100 based on a 18-24 month timeframe. Key details include SMS Pharma's financial performance over the last 6 quarters, expected future earnings, peer comparison, and risks. The report recommends SMS Pharma given its robust product portfolio, largest producer of anti-ulcer products, manufacturing facilities approved by USFDA and European authorities, and plans to invest in expanding facilities in Andhra Pradesh.
This report provides an analysis of Superhouse Ltd, an Indian company that manufactures and exports leather, leather products, and textile garments. It discusses the company's background and facilities, financial performance, industry overview, and recommends the stock as a potential investment. Key points include that Superhouse has annual revenues over Rs. 4,000 crores and 15 manufacturing units in India. The report provides financial details, compares it to peers, and forecasts continued growth in the coming quarters.
- Mold-Tek Packaging Ltd is a leading manufacturer of rigid plastic packaging in India with a 25% market share. It produces plastic containers for paints, lubricants, food, and FMCG products.
- The company recently raised Rs. 55 crores through a QIP to expand operations by setting up new plants in India and the UAE and increasing capacities of its tool room and food packaging facilities.
- Financial performance has been strong with net profits rising 74.8% in the December 2014 quarter and 72.6% in the September 2014 quarter compared to the prior year periods. Net sales have also increased annually.
- The company expects further growth driven by its in-mold labeling segment
This document provides an equity research report on Chemfab Alkalis Ltd, a commodity chemicals company based in Chennai, India. The report discusses the company's background and products, recent developments including replacing old plants, financial performance over the last six quarters, peer comparison, and risks. The report recommends the stock, noting the company stands to benefit from rebounding domestic demand and higher international caustic soda prices. The target price is Rs. 170, with an expected return of 12-24 months.
This document provides an equity research report on Pokarna Ltd, an Indian company that exports granite and manufactures quartz surfaces. It discusses the company's background, recent developments, financial performance, peer comparisons, risks, and provides a recommendation to purchase the stock with a target price of Rs. 1975 within 12-24 months. The report also provides an overview of the favorable outlook for the granite, quartz, flooring and countertop industries globally and in key markets like North America, Europe and Asia.
This report provides an equity research analysis of Ultramarine & Pigments Ltd., a specialty chemicals company based in India. The report discusses the company's background and operations in pigments, surfactants, and IT services. It highlights recent developments like plans to expand surfactant production and an increased focus on IT services. Financially, the company has seen rising revenues and profits in recent quarters. The report recommends the stock as a potential multibagger, setting a target price that is 80% higher than the current market price.
Petronet LNG Ltd is India's largest importer of LNG with long term supply contracts with RasGas of Qatar and Exxon Mobil's Gorgon project in Australia. The company has seen strong growth in recent years with net profit rising 112% in Q4 FY2011 and 53% for the full year. Future outlook is positive due to increasing demand for cleaner natural gas and the company's expansion plans. However, risks include volatility in international LNG prices and regulatory changes.
Aurobindo Pharma Ltd is an Indian pharmaceutical company with a market capitalization of Rs. 54543.9 million. The equity research report from Saral Gyan Capital Services provides an overview of the company, recent developments, financial performance, investment rationale, and risks. Key points include Aurobindo generating over 70% of its revenues from international markets, guidance for 15-20% revenue growth in the US market, and plans to aggressively file 25 ANDAs per year to drive future growth. The report recommends Aurobindo Pharma as a buy with a 12-18 month target price of Rs. 275 per share.
De Nora India Ltd is an Indian subsidiary of De Nora, a global leader in electrochemical technologies. Some key points:
- De Nora India reported a net profit of Rs. 9.72 million for the quarter ending September 2010, up from a net loss in the same quarter the previous year. Sales increased 55.72% to Rs. 44.13 million.
- For the quarter ending June 2010, De Nora India's net profit rose 105.17% to Rs. 11.9 million compared to the same quarter the previous year. Sales increased 56.08% to Rs. 46.3 million.
- Estimated earnings show continued growth with net sales projected to be Rs. 64.63
Dai Ichi Karkaria: Buy at CMP and add on declinesIndiaNotes.com
At CMP of Rs 85, the company is trading at 6.1x its FY14 Adjusted EPS of Rs 13.9. Investors could buy the stock at the CMP and add on dips to Rs.70-76 band (~5.25 xFY14 EPS) for sequential target prices of Rs 111 and 125.
This document provides an investment recommendation for Mazda Ltd stock for April 2012. It summarizes Mazda's business operations, financial performance, and valuation. Mazda operates an engineering division that designs vacuum and evaporator systems, as well as a small foods division. Despite economic challenges, Mazda has grown revenues by 10-15% annually and maintained high profit margins and returns on equity. The document recommends buying Mazda stock within a price range, noting the company's strong cash position, profitable operations, and conservative management.
The document provides an equity research report on Stylam Industries Ltd., which manufactures high-pressure laminates. Some key points:
- Stylam is a leading manufacturer of decorative laminates in India and exports to over 80 countries. It has several quality certifications and a new manufacturing plant.
- The report discusses the laminate industry outlook, noting increasing demand from the housing and construction sectors. It is expected to grow at a 11.2% CAGR to 2020.
- Recent developments for Stylam include winning a rising star brand award and emerging as a leading laminate exporter to Italy through high-quality, innovative designs.
- Stylam is developing a new building at an IT park
Ratio Analysis of the Sitara Chemical Industries Ltd.
In this content there have a different ratio analysis is Incoem statment ratio analysis, balance sheet ratio analysis, liquidity ratio analysis, cash ratio analysis, longterm ratio analysis and some more ratio analysis.
All complete detail of the company will make helpful.
This report provides an analysis of Sterling Tools Ltd, an Indian manufacturer of high tensile cold forged fasteners for the automotive industry. The company has outperformed peers with strong revenue growth of 9-14% in recent quarters due to growth in automotive sales. The report recommends the stock as a potential multibagger, setting a target price of Rs. 1400 based on projected revenue increases of 5-10% annually over the next 2 years from continued automotive sector expansion. Key risks include any slowdown in the automotive industry.
This report provides an analysis of Emmi Industries Ltd, an Indian packaging company. Key points:
- Emmi manufactures flexible packaging products like flexible intermediate bulk containers and woven sacks. It has a manufacturing facility in Silvassa, India.
- The company supplies domestic and international customers in over 52 countries. Exports contributed 49% of revenue in FY16.
- Emmi is focusing on value-added products like water conservation and agriculture products for the domestic market. It has an R&D center approved by the Indian government.
- Recent developments include the company gaining recognition as an R&D center and expanding into food-grade packaging. Financial performance has been positive with increasing revenues
Bambino Agro Industries Ltd is a leading producer of vermicelli in South Asia, with a household name in India. It has four manufacturing units across India equipped with modern facilities. The company focuses on R&D to develop new product lines and maintains stringent quality control. It has a large distribution network across India as well as exporting to various international markets. The report provides an overview of the company's background and operations, and recommends the stock as a potential investment.
Sri Adhikari Brothers Television Network Ltd is an Indian media and entertainment company with a market capitalization of Rs. 892.76 crore. Some recent developments at the company include the approval of the allotment of 51.25 lakh equity shares, reviewing the strategy of their music and comedy channel Mastiii which became the number one music channel in Mumbai and major Hindi markets within 3 weeks, and fixing the dates for their annual general meeting and book closure for dividend. The company's financial performance has also improved with net sales rising 42.48% in Q1 FY2011 and net profit turning positive. The research report provides earnings estimates for the next two quarters expecting continued robust growth.
(Horizontal, Vertical and Ratio Analysis of Financial Statement)ANUJ GOYAL
This document provides an analysis of the financial statements of CEAT Tyres over 2011-2012. Some key findings include:
- Net sales increased 28% to Rs. 4,440 crore in FY 2011-12 compared to the previous year. Operating profit margin improved to 5.7% and operating profit increased 74% to Rs. 255.56 crore.
- Interest and depreciation costs increased sharply by 91% and 106% respectively, causing profit before tax to fall 71% to Rs. 9.78 crore.
- Debt levels increased slightly by Rs. 94 crore due to higher inventory and lower demand. The debt to equity ratio remained around 1.3x.
- Gross
Orient Paper & Industries Ltd (OPIL) is proposing a 1:1 demerger of its cement business unit into a new entity called Orient Cement Ltd. This presents an arbitrage opportunity as the current market cap of OPIL does not reflect the sum of its business units' valuations. A demerger could unlock shareholder value by allowing the separate entities to be appropriately valued. Katalyst Wealth recommends accumulating OPIL shares before the expected High Court approval of the demerger in January-February 2012. Profits could be booked if the share price rises 20-30% or shares could be sold upon demerger and the entitlement to Orient Cement shares retained.
Sitara Chemical Industries Ltd is a Pakistani chemical manufacturer founded in 1981. It produces chemicals like caustic soda, chlorine, and fertilizers. The document discusses the company's vision, mission, businesses, objectives, financial ratios analyzing liquidity, activity, profitability, and solvency. It also presents a SWOT analysis and recommendations to increase production capacity, product lines, and provide online customer services. The ratio analysis shows some ratios decreased or increased compared to the previous year. Overall, the company has a strong market position but needs measures to maintain its profitability.
4th edition of the quarterly E-Newsletter by #SupremeIndustries #BUZZ
Get deeper insights on the industry updates and initiatives by Supreme on various industries like #Insulation #ThermalInsulation #SoundInsulation #PackagingMaterials #Construction and many more...
- India foresees remarkable growth in #automotive industry
- Comparison between Coir Core and #PROTEClitelon (expanded polyethylene foam) for Mattress application
- Profile: Mr. Anant Bhandare
- #Pharmaceutical: A growing industry in India
- Comparison between Rockwool / Slagwool and #INSUshield (Chemically crosslinked polyethylene foam)
- Profile: K. D. Datar
- Introduction of #DURAblockfiller now called #DURAlitefill
- Comparison between POP Overlay and #DURAfloorprotector for floor protection during construction
- Profile:A. B. Dongre
- Success Story - Supreme receives the #ACREX #AwardOfExcellence
- 3 Tips to maintain a professional decorum!
Summer training report on MOTHERSON SUMI SYSTEMS Ltd. (MSSL) Mayanksng07
This project stands to evaluate the Value chain of MSSL and also its policies regarding the value chain. It also stands to depict the customer base and customer loyalty towards the products of MSSL.
This report provides an analysis of Superhouse Ltd, an Indian company that manufactures and exports leather, leather products, and textile garments. It discusses the company's background and facilities, financial performance, industry overview, and recommends the stock as a potential investment. Key points include that Superhouse has annual revenues over Rs. 4,000 crores and 15 manufacturing units in India. The report provides financial details, compares it to peers, and forecasts continued growth in the coming quarters.
- Mold-Tek Packaging Ltd is a leading manufacturer of rigid plastic packaging in India with a 25% market share. It produces plastic containers for paints, lubricants, food, and FMCG products.
- The company recently raised Rs. 55 crores through a QIP to expand operations by setting up new plants in India and the UAE and increasing capacities of its tool room and food packaging facilities.
- Financial performance has been strong with net profits rising 74.8% in the December 2014 quarter and 72.6% in the September 2014 quarter compared to the prior year periods. Net sales have also increased annually.
- The company expects further growth driven by its in-mold labeling segment
This document provides an equity research report on Chemfab Alkalis Ltd, a commodity chemicals company based in Chennai, India. The report discusses the company's background and products, recent developments including replacing old plants, financial performance over the last six quarters, peer comparison, and risks. The report recommends the stock, noting the company stands to benefit from rebounding domestic demand and higher international caustic soda prices. The target price is Rs. 170, with an expected return of 12-24 months.
This document provides an equity research report on Pokarna Ltd, an Indian company that exports granite and manufactures quartz surfaces. It discusses the company's background, recent developments, financial performance, peer comparisons, risks, and provides a recommendation to purchase the stock with a target price of Rs. 1975 within 12-24 months. The report also provides an overview of the favorable outlook for the granite, quartz, flooring and countertop industries globally and in key markets like North America, Europe and Asia.
This report provides an equity research analysis of Ultramarine & Pigments Ltd., a specialty chemicals company based in India. The report discusses the company's background and operations in pigments, surfactants, and IT services. It highlights recent developments like plans to expand surfactant production and an increased focus on IT services. Financially, the company has seen rising revenues and profits in recent quarters. The report recommends the stock as a potential multibagger, setting a target price that is 80% higher than the current market price.
Petronet LNG Ltd is India's largest importer of LNG with long term supply contracts with RasGas of Qatar and Exxon Mobil's Gorgon project in Australia. The company has seen strong growth in recent years with net profit rising 112% in Q4 FY2011 and 53% for the full year. Future outlook is positive due to increasing demand for cleaner natural gas and the company's expansion plans. However, risks include volatility in international LNG prices and regulatory changes.
Aurobindo Pharma Ltd is an Indian pharmaceutical company with a market capitalization of Rs. 54543.9 million. The equity research report from Saral Gyan Capital Services provides an overview of the company, recent developments, financial performance, investment rationale, and risks. Key points include Aurobindo generating over 70% of its revenues from international markets, guidance for 15-20% revenue growth in the US market, and plans to aggressively file 25 ANDAs per year to drive future growth. The report recommends Aurobindo Pharma as a buy with a 12-18 month target price of Rs. 275 per share.
De Nora India Ltd is an Indian subsidiary of De Nora, a global leader in electrochemical technologies. Some key points:
- De Nora India reported a net profit of Rs. 9.72 million for the quarter ending September 2010, up from a net loss in the same quarter the previous year. Sales increased 55.72% to Rs. 44.13 million.
- For the quarter ending June 2010, De Nora India's net profit rose 105.17% to Rs. 11.9 million compared to the same quarter the previous year. Sales increased 56.08% to Rs. 46.3 million.
- Estimated earnings show continued growth with net sales projected to be Rs. 64.63
Dai Ichi Karkaria: Buy at CMP and add on declinesIndiaNotes.com
At CMP of Rs 85, the company is trading at 6.1x its FY14 Adjusted EPS of Rs 13.9. Investors could buy the stock at the CMP and add on dips to Rs.70-76 band (~5.25 xFY14 EPS) for sequential target prices of Rs 111 and 125.
This document provides an investment recommendation for Mazda Ltd stock for April 2012. It summarizes Mazda's business operations, financial performance, and valuation. Mazda operates an engineering division that designs vacuum and evaporator systems, as well as a small foods division. Despite economic challenges, Mazda has grown revenues by 10-15% annually and maintained high profit margins and returns on equity. The document recommends buying Mazda stock within a price range, noting the company's strong cash position, profitable operations, and conservative management.
The document provides an equity research report on Stylam Industries Ltd., which manufactures high-pressure laminates. Some key points:
- Stylam is a leading manufacturer of decorative laminates in India and exports to over 80 countries. It has several quality certifications and a new manufacturing plant.
- The report discusses the laminate industry outlook, noting increasing demand from the housing and construction sectors. It is expected to grow at a 11.2% CAGR to 2020.
- Recent developments for Stylam include winning a rising star brand award and emerging as a leading laminate exporter to Italy through high-quality, innovative designs.
- Stylam is developing a new building at an IT park
Ratio Analysis of the Sitara Chemical Industries Ltd.
In this content there have a different ratio analysis is Incoem statment ratio analysis, balance sheet ratio analysis, liquidity ratio analysis, cash ratio analysis, longterm ratio analysis and some more ratio analysis.
All complete detail of the company will make helpful.
This report provides an analysis of Sterling Tools Ltd, an Indian manufacturer of high tensile cold forged fasteners for the automotive industry. The company has outperformed peers with strong revenue growth of 9-14% in recent quarters due to growth in automotive sales. The report recommends the stock as a potential multibagger, setting a target price of Rs. 1400 based on projected revenue increases of 5-10% annually over the next 2 years from continued automotive sector expansion. Key risks include any slowdown in the automotive industry.
This report provides an analysis of Emmi Industries Ltd, an Indian packaging company. Key points:
- Emmi manufactures flexible packaging products like flexible intermediate bulk containers and woven sacks. It has a manufacturing facility in Silvassa, India.
- The company supplies domestic and international customers in over 52 countries. Exports contributed 49% of revenue in FY16.
- Emmi is focusing on value-added products like water conservation and agriculture products for the domestic market. It has an R&D center approved by the Indian government.
- Recent developments include the company gaining recognition as an R&D center and expanding into food-grade packaging. Financial performance has been positive with increasing revenues
Bambino Agro Industries Ltd is a leading producer of vermicelli in South Asia, with a household name in India. It has four manufacturing units across India equipped with modern facilities. The company focuses on R&D to develop new product lines and maintains stringent quality control. It has a large distribution network across India as well as exporting to various international markets. The report provides an overview of the company's background and operations, and recommends the stock as a potential investment.
Sri Adhikari Brothers Television Network Ltd is an Indian media and entertainment company with a market capitalization of Rs. 892.76 crore. Some recent developments at the company include the approval of the allotment of 51.25 lakh equity shares, reviewing the strategy of their music and comedy channel Mastiii which became the number one music channel in Mumbai and major Hindi markets within 3 weeks, and fixing the dates for their annual general meeting and book closure for dividend. The company's financial performance has also improved with net sales rising 42.48% in Q1 FY2011 and net profit turning positive. The research report provides earnings estimates for the next two quarters expecting continued robust growth.
(Horizontal, Vertical and Ratio Analysis of Financial Statement)ANUJ GOYAL
This document provides an analysis of the financial statements of CEAT Tyres over 2011-2012. Some key findings include:
- Net sales increased 28% to Rs. 4,440 crore in FY 2011-12 compared to the previous year. Operating profit margin improved to 5.7% and operating profit increased 74% to Rs. 255.56 crore.
- Interest and depreciation costs increased sharply by 91% and 106% respectively, causing profit before tax to fall 71% to Rs. 9.78 crore.
- Debt levels increased slightly by Rs. 94 crore due to higher inventory and lower demand. The debt to equity ratio remained around 1.3x.
- Gross
Orient Paper & Industries Ltd (OPIL) is proposing a 1:1 demerger of its cement business unit into a new entity called Orient Cement Ltd. This presents an arbitrage opportunity as the current market cap of OPIL does not reflect the sum of its business units' valuations. A demerger could unlock shareholder value by allowing the separate entities to be appropriately valued. Katalyst Wealth recommends accumulating OPIL shares before the expected High Court approval of the demerger in January-February 2012. Profits could be booked if the share price rises 20-30% or shares could be sold upon demerger and the entitlement to Orient Cement shares retained.
Sitara Chemical Industries Ltd is a Pakistani chemical manufacturer founded in 1981. It produces chemicals like caustic soda, chlorine, and fertilizers. The document discusses the company's vision, mission, businesses, objectives, financial ratios analyzing liquidity, activity, profitability, and solvency. It also presents a SWOT analysis and recommendations to increase production capacity, product lines, and provide online customer services. The ratio analysis shows some ratios decreased or increased compared to the previous year. Overall, the company has a strong market position but needs measures to maintain its profitability.
4th edition of the quarterly E-Newsletter by #SupremeIndustries #BUZZ
Get deeper insights on the industry updates and initiatives by Supreme on various industries like #Insulation #ThermalInsulation #SoundInsulation #PackagingMaterials #Construction and many more...
- India foresees remarkable growth in #automotive industry
- Comparison between Coir Core and #PROTEClitelon (expanded polyethylene foam) for Mattress application
- Profile: Mr. Anant Bhandare
- #Pharmaceutical: A growing industry in India
- Comparison between Rockwool / Slagwool and #INSUshield (Chemically crosslinked polyethylene foam)
- Profile: K. D. Datar
- Introduction of #DURAblockfiller now called #DURAlitefill
- Comparison between POP Overlay and #DURAfloorprotector for floor protection during construction
- Profile:A. B. Dongre
- Success Story - Supreme receives the #ACREX #AwardOfExcellence
- 3 Tips to maintain a professional decorum!
Summer training report on MOTHERSON SUMI SYSTEMS Ltd. (MSSL) Mayanksng07
This project stands to evaluate the Value chain of MSSL and also its policies regarding the value chain. It also stands to depict the customer base and customer loyalty towards the products of MSSL.
This document provides an investment recommendation and analysis of Supreme Industries Ltd, an Indian plastics company. It recommends buying shares of Supreme Industries and provides a target price range and portfolio allocation strategy. The summary highlights Supreme's market leadership in plastic pipes and fittings, strong brand, nationwide production facilities, and opportunities for growth in India's underpenetrated plastics market.
Prasanta Kumar Mohapatra is an ambitious and optimistic plastic technologist and MBA with over 20 years of experience in plastic injection molding and extrusion. He has held plant manager positions at multiple companies and has a proven track record of improving productivity, reducing costs, implementing quality systems, and increasing profitability. His areas of expertise include strategic planning, operations management, new product development, process improvements, and team leadership. He holds an MBA and qualifications in plastic technology and engineering.
Akhilendra Singh is a plastic engineer with over 9 years of experience in plastic molding. He currently works as a senior executive overseeing injection molding operations at Aone Products and Bottlers Ltd in Tanzania, Africa. Previously he has held production roles at several companies in India including Bright Autoplast Ltd, Alpla India Pvt Ltd, and Nil Kamal Limited. He has expertise in injection molding machines ranging from 150-3000 tons, processing plastics such as HDPE, PP, LLDPE, and PET. Akhilendra holds a diploma in plastic processing and testing and aims to further his career by serving an organization with his skills and experience.
Akhilendra Singh is a plastic engineer with over 9 years of experience in plastic molding. He has worked in Nigeria, Tanzania, and India for various companies manufacturing rigid plastic packaging products using injection and blow molding machines. His roles have included production management, quality control, maintenance planning, training, and new product development. He holds a diploma in plastic processing and testing and is seeking a position to utilize his skills and experience.
Akhilendra Singh is a plastic engineer with over 9 years of experience in plastic molding. He currently works as a senior executive overseeing injection molding operations at Aone Products and Bottlers Ltd in Tanzania, Africa. Previously he has held production roles at several companies in India including Bright Autoplast Ltd and Alpla India Pvt. Ltd. Akhilendra holds a post graduate diploma in plastic processing and testing and has experience operating various injection molding machines ranging from 150 to 3000 tons.
The document discusses various Operational Excellence (OpEx) events that took place in January 2018, as reported in the OpEx News newsletter. Specifically, it mentions:
- Gulbrandsen Chemicals celebrating their annual Kaizen Month to showcase employee improvements.
- Concept Business Excellence completing Six Sigma Green Belt training at Piramal Glass' plants.
- Problem solving process training conducted at Voith Hydro in Noida.
- Kaizen awareness training provided to Cosmos Impex employees to promote continuous improvement.
The summary covers the company profile of SIFL, its focus on closed die forgings, and certification. It then briefly outlines sections on the trainee's orientation, time in production and die shop departments during the first two
Ravinder Swami has over 15 years of experience in manufacturing, operations, strategic planning, and product development in the plastic industry. He currently works as the plant head for FIEM Industries, overseeing molding operations, assembly, procurement, and quality assurance. Previously, he held senior management roles at Havells India and Machino Plastics, among other companies. He has expertise in lean manufacturing, process optimization, cost reduction, and vendor management.
To Be Glocal 2014 - RadiciGroup Corporate Brochure - EnglishRadiciGroup
RadiciGroup is a global chemicals company operating in chemicals, plastics, synthetic fibers, and nonwovens. It has over 3,200 employees worldwide and total sales of €1.2 billion in 2013. The company has vertical integration across its production chain from chemicals like adipic acid and polyamide 6 and 6.6 to engineering plastics and man-made fibers. It exports products to industries like apparel, automotive, home furnishings, and more. RadiciGroup also has subsidiaries operating in related fields like textile machinery through Itema, energy through Geogreen, and the Hotel San Marco in Bergamo, Italy.
This document discusses a summer internship report on Hindalco Everlast aluminium roofing sheets. The report was submitted by Buddhaditya Bagchi from the Institute of Management Technology, Nagpur as part of a partial fulfilment of his PGDM program. The report acknowledges the guidance received from his company guide, Mr. Sujit Bagchi and faculty guide Dr. Kapil Chaturvedi. It then provides details about Aditya Birla Group, the parent company of Hindalco, and discusses the objectives, research methodology, product features, specifications and potential uses of Hindalco Everlast aluminium roofing sheets in various industries.
The company in focus is Sealmatic India Pvt. Ltd. Its mechanical seals are sold to over 47 countries, breaking the ceiling of dominance by other countries.
The document provides an overview of Carborundum Universal Limited (CUMI), an Indian manufacturer of abrasives, ceramics, and electro minerals. It describes CUMI's history, products, departments, and findings from a study conducted at one of its manufacturing plants. The summary is:
CUMI is an Indian manufacturer of abrasives, ceramics, and electro minerals. The document profiles CUMI's history and products, describes departments like HR, marketing, and quality, and outlines findings from a study of one plant including suggestions to improve employee motivation and reduce production costs.
This document provides personal and employment details of Hitesh K. Patel. It includes his contact information, education qualifications including a Bachelor of Engineering degree, and work experience spanning from 2007 to present in purchasing and quality control roles at various manufacturing companies in Ahmedabad, India. His most recent role is as Deputy Manager of Purchase at Steel Konnect India Pvt Ltd since 2014 where he is responsible for procurement activities for a heavy steel fabrication division.
10 years experience in tool and die maker,manufacturing of Mouds and die main...Brijesh Ulvi
Brijesh Ulvi is seeking a challenging position utilizing his 10 years of experience in tool and die making, maintenance, and engineering. He currently works as a Mould Engineer in Malaysia and has previous experience working for automotive companies in India. He has expertise in plastic injection moulds, jigs and fixtures, troubleshooting, implementing improvement programs, and leading teams. His objective is to contribute his technical skills and help organizations.
Harikesh Ramnarayan yadav has over 15 years of experience in production management and quality control roles in the automotive components industry. He is currently the Deputy Manager at IAI Industries Ltd., where he is responsible for production planning, quality management, and new product development. Previously, he held roles as Assistant Manager and Production Incharge at Jayashree Polymer Pvt. Ltd. and Imperial Auto Industries Ltd., where he improved production processes, reduced waste, and ensured compliance with industry standards. Harikesh holds a diploma in Metallurgical Engineering and aims to lead a large manufacturing business over the course of his career.
This document provides an overview of an organizational study conducted at Bilva Moulds Pvt Ltd in Bangalore. It discusses the company's profile, including that it was established in 2005 and manufactures plastic injection moulds and components. It also outlines the objectives of the study, which are to understand the company profile, vision, mission, organizational activities, and SWOT analysis. The document then provides details on the plastic injection moulding industry history and Bilva Moulds' product range and quality testing processes.
Amit Nigam has 19 years of experience in the automotive industry, currently working as General Manager of Operations at Roki Minda Co. Pvt. Ltd. He has extensive experience in production, quality control, new product development, and plant setup. Some of his achievements include successful setup of new plants, awards for plant development and delivery excellence, and maintaining zero defects for 3 years. He holds an MBA in Operations Management and a post-graduate diploma in plastics engineering.
This document provides an equity research report on Kabra Extrusiontechnik Ltd, which manufactures plastic extrusion machinery. The report discusses the company's background and operations, recent developments including increased stake by promoters and partnership extensions, financial performance with rising net profits in the most recent quarter, and recommends the stock as a potential investment with a target price implying upside of over 100% within 12-24 months. Key risks mentioned include potential slowdown in the plastics industry.
This document recommends buying shares of NIIT Ltd, an Indian IT training company, based on its current undervaluation. It presents the stock's current price and target price with a potential 16.5% upside over 90 days. It includes charts comparing the stock and index returns over the last year and technical support and resistance levels. It also provides the company's quarterly financial results and basis for the recommendation, which is based on technical analysis. The document disclaims any warranty or liability for investment decisions based on its content.
This document recommends buying shares of Praj Industries Ltd, an Indian engineering company, for potential short-term gains within 90 days. It provides the stock's current price and target price, along with technical analysis showing resistance and support levels. Financial data for the past four quarters demonstrates overall growth in sales, net profit, and earnings per share. The recommendation is based on this technical and fundamental analysis showing the stock is undervalued and has upside potential for investors.
This document recommends buying shares of Dhampur Sugar Mills Ltd, an Indian sugar company, based on its current undervaluation. The stock price is 117.10 rupees but the target price over the next 90 days is 139 rupees, representing an 18.7% upside potential. Recent financial data is presented showing the company's quarterly revenues, expenses, profits, and other details. A technical analysis indicates the stock price supports and resistances in the near term. The recommendation is to buy this stock to benefit from short-term gains over the next 3 months.
- Radico Khaitan Ltd is recommended as a short-term buy based on its current market price of 323.45 and target price of 380, representing potential upside of 17.5%.
- Over the last year, Radico Khaitan's stock returns were 84.8% compared to 3.3% for the Nifty index. Resistance levels are seen at 350 and 372, with support at 315 and 300.
- Quarterly financial results show rising sales, profits and EPS over the past four quarters on a year-over-year basis.
This document provides a stock recommendation for Radico Khaitan Ltd, an Indian beverage company. It recommends buying the stock with an expected 17.6% upside potential within 90 days. The stock analysis is based on the company's financial performance, quarterly results, current market price of Rs. 353 compared to a target price of Rs. 415, and technical analysis showing support and resistance levels. The document discloses its independent equity research status and disclaimer.
The document recommends buying shares of Capital First Ltd for short-term gains within 90 days. It provides the stock's current and target prices, market capitalization, P/E ratio, and other financial details. The quarterly financial results are shown, along with a comparative chart showing Capital First's returns have outperformed the Nifty index over the last year. Technical analysis forms the basis for the recommendation to buy the stock.
This document recommends buying shares of India Glycols Ltd, an Indian chemicals company, for potential short-term gains of 16.7% over the next 90 days. It provides the company's current stock price and target price, as well as comparative charts showing India Glycols' strong stock performance versus the broader market in the last year. Financial data for the past four quarters show increasing sales and profits. The recommendation is based on technical analysis indicating the stock price may rise further.
Waterbase Ltd is an aquaculture company headquartered in Chennai that manufactures shrimp feed and processes farmed shrimp for export. The company has recently received approval to merge Pinnae Feeds Ltd, which manufactures shrimp feed, to expand production capacity. Waterbase was also awarded the 2016 India Shrimp Feed Industry New Product Innovation Leadership Award. Financially, Waterbase reported a profit of Rs. 0.82 crore for the quarter ending March 2017 compared to a loss of Rs. 1.73 crore in the previous year, with sales rising 12.05% to Rs. 62.50 crore.
This document recommends buying shares of Edelweiss Financial Services Ltd for short-term gains over the next 90 days. It provides analysis showing the stock's current price and target price indicate a potential 16.9% upside. Charts show the stock has outperformed the broader market index by over 100% in the past year. The company's most recent quarterly financial results are also summarized, showing increases in total income, net profit, and earnings per share compared to the same period last year. The recommendation is based on technical analysis indicating the stock is currently trading below resistance levels and has support levels that suggest limited downside risk over the recommendation period.
The document recommends buying shares of Vedanta Ltd, an Indian natural resources company. It is currently trading at Rs. 249.05 per share and has an upside potential of 17.2% to reach the target price of Rs. 292 within 90 days. Vedanta has significantly outperformed the broader market in returns over the past year. The recommendation is based on technical analysis and the company's strong financial performance in recent quarters with rising revenues, profits, and earnings per share.
SpiceJet Ltd stock is recommended as a buy for short term gains within 90 days. At a current price of Rs. 102.25 per share, the target price is Rs. 120 per share, representing an upside potential of 17.4%. Technical analysis indicates support levels of Rs. 97 and Rs. 90 per share, and resistance levels of Rs. 108 and Rs. 115 per share. Over the past year, SpiceJet stock has significantly outperformed the broader market with returns of 49.8% compared to 16.4% for the Sensex.
Prima Plastics is one of the largest plastic moulded furniture manufacturers in India with a market share of around 6%. The company exports to countries in Africa, Americas, and the Middle East. It has two manufacturing plants in India and a 50% joint venture in Cameroon, Africa. Prima Plastics is expanding its manufacturing capacity in India and Africa to meet growing demand. The company is also exploring setting up a new joint venture in Central America to expand its international reach. In the past, Prima Plastics diversified into aluminum composite panels but later closed this division due to challenges.
The document provides an equity research report on Coral Laboratories Ltd, an Indian pharmaceutical company. It discusses the company's background and product portfolio, recent developments, financial performance, peer comparison, risks, and the analyst's recommendation of the stock as a potential multibagger investment over the next 12-24 months with a target price of Rs. 1100. The report analyses Coral Labs' manufacturing facilities, leadership, export markets, and range of generic drug products across various therapeutic segments.
Saral Gyan - 15% @ 90 Days - March 2017SaralGyanTeam
City Union Bank stock is recommended as a buy for short term gains within 90 days. The stock price is currently Rs. 143.95 but is predicted to rise to Rs. 168, a potential upside of 16.7%. Quarterly results show the bank has experienced rising revenues, profits, and EPS over the past year. Technical analysis further supports the stock reaching resistance levels that justify the price target. However, investors are advised to make independent decisions as this is an independent equity research report and not a solicitation.
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This document recommends buying shares of Gujarat Alkalies & Chemicals Ltd. for short term gains within 90 days. It provides the company's current stock price and target price with an upside potential of 16.5%. Technical analysis indicates resistance and support levels. Financial data for the past quarters show increasing sales, profits, and earnings per share. The recommendation is based on this financial and technical analysis.
The document recommends buying shares of City Union Bank Ltd. for potential short-term gains of 16.5% over the next 90 days. It notes that the stock's current price is 144.20 rupees per share with a target price of 168 rupees. Recent quarterly financial results for the bank are also presented, showing growth in interest income, net profits, and basic earnings per share over the past four quarters. The recommendation is based on technical analysis showing the stock's resistance and support levels as well as its strong 62.2% return over the past year compared to a 4.8% return for the Nifty index.
This report provides an equity research analysis of Zenith Fibres Ltd., a manufacturer of polypropylene staple fibre (PPSF) in India. The report discusses the company's background, recent developments in the textiles industry, financial performance over the last 6 quarters, peer comparison, and risks. The report recommends Zenith Fibres as a investment, citing its focus on quality, new product grades, established production base, and debt-free balance sheet. The report predicts steady growth as new initiatives are absorbed.
Saral Gyan - 15% @ 90 Days - August 2016SaralGyanTeam
The document recommends buying shares of Credit Analysis & Research Ltd. It is currently trading at Rs. 1187.70 per share and the target price is Rs. 1380, representing an upside potential of 16.2%. The company's quarterly financial results are provided, showing steady growth in net profit. A technical analysis indicates the stock price has support levels of Rs. 1110 and Rs. 1030, and resistance at Rs. 1270 and Rs. 1340. The recommendation is to buy the stock with an expected return of 15% within 90 days.
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
KYC Compliance: A Cornerstone of Global Crypto Regulatory FrameworksAny kyc Account
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Ponzi schemes, a notorious form of financial fraud, have plagued America’s investment landscape for decades. Named after Charles Ponzi, who orchestrated one of the most infamous schemes in the early 20th century, these fraudulent operations promise high returns with little or no risk, only to collapse and leave investors with significant losses. This article explores the nature of Ponzi schemes, notable cases in American history, their impact on victims, and measures to prevent falling prey to such scams.
Understanding Ponzi Schemes
A Ponzi scheme is an investment scam where returns are paid to earlier investors using the capital from newer investors, rather than from legitimate profit earned. The scheme relies on a constant influx of new investments to continue paying the promised returns. Eventually, when the flow of new money slows down or stops, the scheme collapses, leaving the majority of investors with substantial financial losses.
Historical Context: Charles Ponzi and His Legacy
Charles Ponzi is the namesake of this deceptive practice. In the 1920s, Ponzi promised investors in Boston a 50% return within 45 days or 100% return in 90 days through arbitrage of international reply coupons. Initially, he paid returns as promised, not from profits, but from the investments of new participants. When his scheme unraveled, it resulted in losses exceeding $20 million (equivalent to about $270 million today).
Notable American Ponzi Schemes
1. Bernie Madoff: Perhaps the most notorious Ponzi scheme in recent history, Bernie Madoff’s fraud involved $65 billion. Madoff, a well-respected figure in the financial industry, promised steady, high returns through a secretive investment strategy. His scheme lasted for decades before collapsing in 2008, devastating thousands of investors, including individuals, charities, and institutional clients.
2. Allen Stanford: Through his company, Stanford Financial Group, Allen Stanford orchestrated a $7 billion Ponzi scheme, luring investors with fraudulent certificates of deposit issued by his offshore bank. Stanford promised high returns and lavish lifestyle benefits to his investors, which ultimately led to a 110-year prison sentence for the financier in 2012.
3. Tom Petters: In a scheme that lasted more than a decade, Tom Petters ran a $3.65 billion Ponzi scheme, using his company, Petters Group Worldwide. He claimed to buy and sell consumer electronics, but in reality, he used new investments to pay off old debts and fund his extravagant lifestyle. Petters was convicted in 2009 and sentenced to 50 years in prison.
4. Eric Dalius and Saivian: Eric Dalius, a prominent figure behind Saivian, a cashback program promising high returns, is under scrutiny for allegedly orchestrating a Ponzi scheme. Saivian enticed investors with promises of up to 20% cash back on everyday purchases. However, investigations suggest that the returns were paid using new investments rather than legitimate profits. The collapse of Saivian l
“Amidst Tempered Optimism” Main economic trends in May 2024 based on the results of the New Monthly Enterprises Survey, #NRES
On 12 June 2024 the Institute for Economic Research and Policy Consulting (IER) held an online event “Economic Trends from a Business Perspective (May 2024)”.
During the event, the results of the 25-th monthly survey of business executives “Ukrainian Business during the war”, which was conducted in May 2024, were presented.
The field stage of the 25-th wave lasted from May 20 to May 31, 2024. In May, 532 companies were surveyed.
The enterprise managers compared the work results in May 2024 with April, assessed the indicators at the time of the survey (May 2024), and gave forecasts for the next two, three, or six months, depending on the question. In certain issues (where indicated), the work results were compared with the pre-war period (before February 24, 2022).
✅ More survey results in the presentation.
✅ Video presentation: https://youtu.be/4ZvsSKd1MzE
Explore the world of investments with an in-depth comparison of the stock market and real estate. Understand their fundamentals, risks, returns, and diversification strategies to make informed financial decisions that align with your goals.
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Newman Leech's success in the real estate industry is based on key lessons and principles, offering practical advice for new investors and serving as a blueprint for building a successful career.
Discovering Delhi - India's Cultural Capital.pptxcosmo-soil
Delhi, the heartbeat of India, offers a rich blend of history, culture, and modernity. From iconic landmarks like the Red Fort to bustling commercial hubs and vibrant culinary scenes, Delhi's real estate landscape is dynamic and diverse. Discover the essence of India's capital, where tradition meets innovation.
3. HIDDEN GEMS – DECEMBER 2016
- 3 - SARAL GYAN CAPITAL SERVICES
1. Company Background
Shaily Engineering Plastics Ltd (SEPL), is a
quality supplier of high precision injection
molded plastic components,
subassemblies & assemblies for various
OEM requirements. Shaily Engineering Plastics is certified to ISO: 9001:2008, ISO/TS
16949:2009, ISO 15378:2011, ISO 13485:2012 quality certifications and is the first
injection molding company to have obtained the ISO: TS16949 certification in India.
The company caters to a wide range of industries including FMCG, pharmaceuticals,
switchgear components, auto components, electronics and electrical appliances, etc.
Currently, SEPL has five manufacturing
facilities - four in Savli (Gujarat) and one
in Halol (Gujarat). One facility in Savli is an
Export Oriented Unit (EOU) which was set
up around nine years back while others
cater to both domestic and export
markets. During FYl5, SEPL had set up a
Pharmaceutical packaging plant for
manufacturing of Child Resistant (CR)
caps & bottles for packaging of drugs for
regulated markets.
The plants are equipped with various post molding facilities viz., hot stamping, ultrasonic
welding, Vibration Welding, vacuum metalizing, pad printing, Screen printing, Painting,
hot foiling, Laser Marking, manual assembly lines, semi-auto assembly lines and fully
automated assembly lines & other post molding services.
The company has been exporting components, sub-assemblies & assemblies to customers
in US, Europe & middle East since past more than 20 years and is 100% compliant to the
quality standards & logistics requirements of these customers.
SEPL is being managed by the promoter and Executive Chairman Mr. Mahendra Sanghvi
who has experience of over four decades in Plastic industry. He is a Chemical engineer
from USA and plastic technologist holding diploma in management with vast experience
in North American Plastics Industry. He controls the overall affairs of the company. He is
assisted by Mr. Amit Sanghvi who is Managing Director of the company. His brother Mr.
laxman Sanghvi looks after procurement and project execution.
The Board of Directors of the company consists of veterans from the fields of Plastic as
well as Finance. The overall management of the company is competent in their respective
areas of operations.
4. HIDDEN GEMS – DECEMBER 2016
- 4 - SARAL GYAN CAPITAL SERVICES
SEPL has reputed domestic and international clients across wide range of industries which
have been its customers since long. This includes FMCG sector customers like Ikea Trading
(I) Pvt. ltd. (IKEA), Hindustan Unilever ltd. (HUL), Procter & Gamble (P&G), Switchgear
customers like Lucy Electric, ASS, L&T, Siemens, Electrical appliance customers like GE
appliance, Pharmaceutical customers like Wockhardt, Sun Pharma, Sanofi-Aventis, etc.
SEPL manufactures insulin pen for Sanofi which is a global leader in its field and SEPL is
the sole supplier of these pens to Sanofi globally. SEPL is catering to fortune 100
companies and has long standing relationship with these clients and gets repeat orders
from them.
Gradually, SEPL has been increasing its focus on exports and has developed one 100%
EOU plant. The company has developed the skill set to meet the requirement of the
customers from developed countries. Its exports are geographically diversified with major
export destinations being USA, Germany, Sweden, Netherlands, UK and Canada.
SEPL has tied up with Global Closure Systems (GCS), the European leader in CRC solutions.
As per the terms of contract, SEPL will receive an exclusive licence from GCS to sell CRCs
in India. SEPL has built its second ISO Class 8 Clean-room facility at Rania in Gujarat with
a capacity to manufacture 100 million CRCs and bottles of varying capacities. The
company received approval from two Indian drug manufacturers and is in talks with
another 12 drug manufacturers for its new products. The company has started supplies
in Oct 2016 to one of the major domestic pharma company. The CRC plant is expected to
run at full capacity by FY19, contributing around Rs 60 crores to top-line in that year. SEPL
will be the sole integrated supplier of CRCs and bottles in India.
5. HIDDEN GEMS – DECEMBER 2016
- 5 - SARAL GYAN CAPITAL SERVICES
Business Units
1. Switchgears - SEPL is one of the few companies which
specializes in processing diverse, difficult and exotic
Thermoplastic & Thermoset polymers. 1st company in India
to introduce Thermoset injection molding technology in
early 90’s; set a benchmark for processing tight tolerances
Thermoset injection molded components particularly for
the Switchgear industry serving the needs of demanding
customers like ABB, Siemens, Schneider, Emerson Group companies etc.
2. Home Appliances - SEPL is a supplier partner to GE
Appliances USA since past more than 18 years catering to
their needs of various kinds of knob assemblies and critical
components for different appliances. Each knob assembly is
unique to its specification which involves molding, pad
printing, heat stacking, inlay fixing, Spring Clip fixing and
unique packaging. SEPL has been the sole supplier of these components since past so
many years.
3. Healthcare - SEPL is one of the India’s
leading injection molding companies with a
vision to manufacture quality and
affordable healthcare products to improve
Healthcare environment. The company
specializes in conceptualizing and
manufacturing complex precision
components and assemblies for medical devices, which require stringent quality controls,
tight tolerances and high performance such as DPI’S, Pen Injectors, Healthcare
Disposables and Primary Packaging material.
Over the years SEPL has established itself as a competent manufacturer of medical
devices for companies like Sanofi, Sun Pharmaceuticals, Wockhardt, GE Healthcare,
Westrock (erstwhile; MWV), Akums Drugs, Clearspec - McKesson and Zydus Cadila. Shaily
has ventured into manufacturing of DMF grade (DMF NUMBER :28979 CANADIAN
DMF:2015-200) Child Resistant Closures, HDPE Bottles for solid orals & Eye droppers
recently
4. Home, Personal & Beauty Care - SEPL setup a clean
room injection molding facility & secondary operation
facilities like Vacuum Metallizing, High Speed Pad
Printing lines, Hot Stamping & Hot Foiling, Ultrasonic
Welding, Painting in the year 1992 to cater the needs of
customers like P&G, HUL, GEA, Sunpharma, Zydus
Cadila etc. While this industry was on the growth path
6. HIDDEN GEMS – DECEMBER 2016
- 6 - SARAL GYAN CAPITAL SERVICES
during the period starting 2003, global companies contemplated India as a one of the best
and economical source for plastic components, sub-assemblies and assemblies. During
this phase, SEPL got the opportunity for manufacture and supply of injection molded
components and assemblies to one of the world’s largest Home Furnishing company
based out of Europe.
5. Automotive - SEPL has been a niche player in
the automotive industries, developing
components from ultrahigh performance
engineering plastic which are subjected to
extremely high temperature, wear and tear
requirements & are a direct replacement of
metal to plastic. SEPL has developed proprietary
molding process to manufacture components
from Polyamide imide material – TORLON (One
of the 2 processor of this material in ASIA) & PEEK (Poly ether ether ketone). Many of
these components are used in US defense application and in the turbo charges of high
end luxury cars like BMW, Audi, Volkswagen, Toyota, GM. SEPL manufactures extremely
critical components for the car seat head rest assembly and the other components of car
seats required for adjustment and maneuvering the seats.
6. Industrial & Electrical Applications - SEPL made
a beginning in late 80’s with a purpose to cater the
need of high precision injection molded plastic
components manufactured from high
performance engineering plastic materials. Its
ability to consistently mold high precision
components to tight tolerances, makes SEPL a
leading player in manufacture & supply of
engineering plastic component for power tools, Industrial & oil field valves, industrial &
domestic LED lighting fixtures, photography studio equipment, Industrial flash lights,
Industrial electronic, etc.
7. HIDDEN GEMS – DECEMBER 2016
- 7 - SARAL GYAN CAPITAL SERVICES
2. Recent Developments
DSP Blackrock increases its shareholding in Shaily Engineering Ltd to 7.65% - Sept 2016
DSP BlackRock Trustee Company Pvt Ltd (DSPBRTC) is the trustee for the schemes
launched by DSP BlackRock Alternative Investment Fund and DSP BlackRock Mutual Fund.
DSPBRTC on behalf of the schemes of the fund has acquired equity shares of Shaily
Engineering Plastics Ltd.
One of the scheme, DSP BlackRock Emerging Stars Fund has acquired additional 78,585
shares of the company at Rs. 514.98 per share on 1st Sept 2016. DSP Blackrock
shareholding in the company across various schemes has increased till 7.65% of the paid
up capital of the company.
Earlier on 8th March 2016, DSP Blackrock Emerging Stars Fund bought 4,50,000 shares of
Shaily Engineering Plastics at Rs 500 on the BSE.
IKEA to invest Rs 2,000 crore in Haryana; signs MoU with state – March 2016
Swedish furniture retailing giant IKEA signed a memorandum of understanding with
Haryana government to invest an estimated Rs 2,000 crore to open its stores in the state.
IKEA India inked an MoU (memorandum of understanding) with the state of Haryana as a
major step forward towards establishing retail stores in the state. IKEA will invest an
estimated Rs 2,000 crore for its retail expansion in Haryana, will employ about 1,000
coworkers directly and engage around 3,000 more for providing services such as furniture
assembly, delivery services among others. In 2015, IKEA had signed MoUs with Karnataka,
Telengana, Uttar Pradesh and Maharashtra to set up stores.
Haryana is a prioritised state for IKEA due to its open investment climate. IKEA will set up
retail stores to bring high quality, functional home furnishings with affordability and
design for the many people. IKEA said it sees India as an important future market and is
evaluating different sites in the prioritised states of Delhi NCR, Bangalore, Mumbai and
Hyderabad. IKEA announced opening of its first store in India at Hyderabad in the second
half of 2017 even as it scouts for more sites in Delhi-NCR, Mumbai and Bengaluru.
The company, which received government approval in 2013 for its Rs 10,500 crore
proposal to open retail stores under 100 per cent FDI, plans to open 25 stores by 2025 in
nine Indian cities.
Above development will augur well for SEPL in coming years as the company generates
almost 50% of its revenue from client IKEA.
8. HIDDEN GEMS – DECEMBER 2016
- 8 - SARAL GYAN CAPITAL SERVICES
3. Financial Performance
Shaily Engineering Plastics standalone net profit declines 3.14% in the Sept 2016 quarter
Net profit of Shaily Engineering Plastics declined 3.14% to Rs 4.01 crore in the quarter
ended September 2016 as against Rs 4.14 crore during the previous quarter ended
September 2015. Sales rose 3.70% to Rs 63.82 crore in the quarter ended September 2016
as against Rs 61.58 crore during the previous quarter ended September 2015
Shaily Engineering Plastics standalone net profit declines 4.14% in the June 2016 quarter
Net profit of Shaily Engineering Plastics declined 4.14% to Rs 3.24 crore in the quarter
ended June 2016 as against Rs 3.38 crore during the previous quarter ended June 2015.
Sales rose 10.09% to Rs 58.91 crore in the quarter ended June 2016 as against Rs 53.51
crore during the previous quarter ended June 2015.
1 2 3 4 5 6
Total Sales 53.51 61.58 54.45 52.85 58.91 63.82
Net Profit 3.38 4.14 3.87 4.1 3.24 4.01
53.51
61.58
54.45 52.85
58.91
63.82
3.38 4.14 3.87 4.1 3.24 4.01
0
10
20
30
40
50
60
70
RsinCrores
Jun 15 Sep 15 Dec 15 Mar 16 Jun 16 Sep 16
Last 6 Quarters Net Sales & Profit
9. HIDDEN GEMS – DECEMBER 2016
- 9 - SARAL GYAN CAPITAL SERVICES
Current & Expected Earnings
Quarterly Ended Profit & Loss Account (Standalone)
Currently company generates majority of its revenue from IKEA in home and furnishing
segment. If we look at revenue contribution, 45-50% is from IKEA, 25% is from pharma
and 25-30% is from appliances, FMCG and high end engineering put together.
We believe the company profit margins will improve in coming quarters along with robust
revenue growth considering continuous addition of new clients from diversified sectors
by offering innovative products.
Particulars
(Rs in Crores)
Dec
2015
Mar
2016
Jun
2016
Sep
2016
Dec
2016 E
Mar
2017 E
Audited / UnAudited UA UA UA UA UA UA
Net Sales 54.45 52.85 58.91 63.82 61.53 65.78
Other Operating Income 0.77 1.35 0.29 1.2 0.85 1.21
Total Income – Operations 55.22 54.2 59.2 65.03 62.38 66.99
Raw Materials Consumed 34.95 32.11 37.09 42.11 39.57 42.94
Purchase of Traded Goods -- -- -- -- -- --
Increase/Decrease in Stocks -1.59 0.63 -1.37 -2.19 -1.67 0.75
Power & Fuel -- -- -- -- --
Employees Cost 5.92 5.26 6.68 6.89 6.65 6.05
Depreciation 2.45 3.59 3.06 3.17 3.25 3.77
Provisions And Contingencies -- -- -- -- -- --
Other Expenses 5.88 7 6.75 7.64 6.45 7.14
P/L Before Other Income 7.6 5.61 7 7.4 8.13 6.34
Other Income 0.15 1.7 0.12 0.72 0.34 1.55
P/L Before Int., E. Items & Tax 7.75 7.31 7.12 8.12 8.47 7.89
Interest 2.01 2.98 2.14 1.97 1.91 2.37
P/L Before E. Items & Tax 5.74 4.33 4.98 6.15 6.56 5.52
Exceptional Items -- -- -- -- -- --
P/L Before Tax 5.74 4.33 4.98 6.15 6.56 5.52
Tax 1.88 0.22 1.74 2.14 2.29 0.28
P/L After Tax – Ord. Activities 3.87 4.1 3.24 4.01 4.27 5.24
Prior Year Adjustments -- -- -- -- -- --
Extra Ordinary Items -- -- -- -- -- --
Net Profit/(Loss) 3.87 4.1 3.24 4.01 4.27 5.24
Equity Share Capital 8.32 8.32 8.32 8.32 8.32 8.32
Calculated EPS 4.65 4.93 3.9 4.82 5.13 6.3
Calculated EPS (Annualised) 18.6 19.72 15.6 19.28 20.53 25.19
Public Shares Holding 3818587 3818587 3818587 3885587 3818587 NA
Public Share Holding (%) 45.91 45.91 45.91 46.71 45.91 NA
10. HIDDEN GEMS – DECEMBER 2016
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4. Peer Group Comparison
PEER GROUP
SHAILY ENGINEERING
PLASTICS
KINGFA SCIENCE
TECHNOLOGY
ASTRAL POLY
TECHNIK
CMP 529.60 863.60 386.70
52 W L/H 439.00/704.00 367.00/1270.00 334.05/526.35
Market Cap 440.54 873.10 4632.67
Results (in Crores) Sep-16 Sep-16 Sep-16
Net Sales 63.82 112.09 334.18
PAT 4.01 4.18 21.52
Equity 8.32 10.11 11.98
EPS (TTM) 18.30 15.69 9.76
P/E 28.94 55.04 39.62
5. Key Concerns / Risks
SEPL uses plastic granules as its major raw material. Plastic granules are derivatives of
crude, whose price has reduced over the past one year. Volatility in prices of polymer,
a key raw material for SEPL, may impact realizations of the company.
As the company generate 65-70% of its revenue from exports, any slowdown in the
global demand will have an impact on company’s growth.
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6. Saral Gyan Recommendation
Shaily Engineering Plastics is into a business of manufacturing high precision injection
mould and plastic component assemblies for various industries, including medical
devices, pharma, FMCG, home and personal care. IKEA is the company’s largest
customer. SEPL continue to derive strength from its long and established track record
in plastic injection moulding business. Experienced promoters, reputed clientele
across diverse end use industries, growing demand for plastic with its increased
application in various industries, healthy profitability along with moderate leverage
give ample growth opportunities to the company.
SEPL’s ability to manufacture innovative products on a consistent basis with superior
quality at low prices earned a place for itself in the list of preferred suppliers for many
big domestic and international clients. Some of SEPL’s clients include big names such
as General Electric Appliances (GEA), Sun Pharma, Sanofi, Gillette India, P&G, and
HUL. Most of these clients have relationship with SEPL since the past 15 years. The
company is continuously adding new customers and also continue to strengthen its
business relationship with key customer IKEA.
The company has shown its ability to grow its scale of operations along with
diversification of its customer base while retaining its existing clientele, sustain its
profitability margins and improve its capital structure. The company has received
business confirmation for manufacturing and supply of packaging for one of the
largest global skin care brand. Also commenced manufacturing and supply of two new
additional parts for Gillette in 2nd quarter. If we look at broad mix of businesses, 45-
50% is from IKEA, 25% is from pharma and 25-30% is from appliances, FMCG and high
end engineering put together.
In terms of profitability and return on capital employed, the company’s performance
has improved significantly over last couple of years. Though the revenue grew
moderately during FY12-16, the EBITDA margin expanded steadily over the same
period. The company has registered sales CAGR of 12.2% and profit CAGR of 28.5%
with ROE of 17.7% over last 5 years.
Key Financial Parameters Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016
Return on Equity (%) 19.94 12.29 16.68 21.42 16.57
ROCE (%) 15.11 11.67 13.09 13.07 13.20
Operating Profit Margin (%) 15.18 14.34 15.43 15.60 18.54
Net Profit Margin (%) 4.37 2.95 4.37 7.24 6.87
Debt to Equity (%) 1.26 1.29 1.55 1.06 0.75
Working Capital Days 147 164 148 152 129
Operations of SEPL are largely working capital intensive in nature since it gets lower
credit period from its suppliers and it has historically been required to extend higher
credit period to its customers. However, there has been gradual improvement in
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working capital management by the company. It has now put in place strict payment
terms for its customers leading to improvement in its collection period to 58 days
during FY16 from 68 days during FYl5 even with 25% growth. It continues to hold
around 40 days inventory. Accordingly, its operating cycle has improved to 67 days
during FY16 compared to 78 days in FY15.
SEPL's sales with the top 5 customers contributing around 74% to its gross sales during
FY16. Some of the injection moulding machines installed at company’s manufacturing
facilities at Savli and Halol are dedicated to particular client's products. Also, the
recently completed capex is dedicated to cater to a few large clients like IKEA and
Sanofi. However, SEPL has added many new customers over the past few years.
During FY16, SEPL has expanded its clientele with addition of companies like Gillette
India ltd., Corvi LEDs, NATCO Pharmaceuticals, SP Pharmaceuticals.
SEPL focus on providing customised solutions to customers has enabled it to enter
categories such as automotives and FMCG. SEPL supported Honeywell to convert
metal rods for turbo chargers in automotive applications to plastic rods which not only
brought in cost savings but also higher efficiency for users. The company plans to
continue focusing on customised, niche solutions which will aid future growth.
Currently, the company generates around 25% of its total revenue from pharma
segment. SEPL has increased its focus on pharma devices and packaging. SEPL
currently manufactures insulin pens, asthma inhalers and speculums, among other
pharmaceutical devices, and has prominent customers such as Sanofi, Wockhardt and
Sun Pharma. It is a supplier of AllStar insulin pens to Sanofi and is also the sole supplier
of insulin pens to Wockhardt. SEPL has also entered the pharma packaging market via
Child Restraint Caps through a technology tie-up with Global Closure system (GCS)
and has incurred capex of Rs 30 crores to set up a plant. As per management, this
plant can generate revenues of Rs. 60 crores on full utilisation (by FY19).
As of Dec’16, promoter’s shareholding in the company is at 54.09%. Promoters have
not pledged any shares, Institution shareholding in the company is at 8.26%.
Management has once again started paying dividend to shareholders from 2015
onwards, the dividend payout before 2015 was in 2008. The company has paid
dividend of Rs. 4 per share for FY15-16, dividend yield at current price is 0.75%.
YEAR Mar'12 Mar'13 Mar'14 Mar'15 Mar'16
EPS 8.70 4.95 9.00 17.19 18.62
Dividend / Share (In Rs) 0.00 0.00 0.00 2.00 4.00
As per our estimates, SEPL can deliver PAT of 27.90 crores for full financial year 2017-
18, annualized EPS of Rs 33.5 with forward P/E ratio of 15.8X for FY17-18. Company’s
valuation looks reasonable considering robust growth outlook with increase in
product offerings to reputed clientele from various industries.
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On equity of Rs. 8.32 crore, the estimated annualized EPS for FY17-18 works out to Rs.
33.53 and the Book Value per share is Rs. 116.62. At current market price of Rs.
529.60, stock price to book value is 4.54.
Considering ambitious growth plan of the management with objective of achieving target
revenues of Rs. 650 crores ($100 million) by FY20 with investment of Rs 100 crore on
capex over the next 2 to 3 years, company’s expertise of manufacturing complex precision
components and assemblies to offer total solutions in plastics to reputed clientele from
various sectors, robust growth outlook with increase in demand of plastic based products
and expected improvement in operating margins of the company from the current 17%
due to better product mix and improving efficiencies, Saral Gyan team
recommends “Buy” on Shaily Engineering Plastics Ltd at current market price of Rs.
529.60 for target of Rs. 1050 over a period of 12 to 24 months.
Buying Strategy:
80% at current market price of 529.60
20% at price range of 440 - 460 (in case of correction in stock price in near term)
Portfolio Allocation: 3% of your equity portfolio.