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
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.
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.
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.
- 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
- Shiv-Vani Oil & Gas Exploration Services Limited reported consolidated financial results for the year ending March 31, 2013.
- Consolidated operating income decreased by 16.48% to Rs. 12,395 million compared to Rs. 14,840 million in the previous year. Net profit declined by 89.30% to Rs. 224 million from Rs. 2,093 million in 2011-12.
- The company expanded its operations from onshore to offshore drilling by obtaining a contract in Egypt but operations were impacted by the dehiring of some rigs and cancellation of a coal bed methane contract by ONGC.
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.
Southern Chemicals Ltd. is proposing a project to manufacture Di-basic Calcium Phosphate with a capacity of 4,000 MT per year for feed grade and 4,000 MT for pharmaceutical (IP) grade. The key details provided in the document include raw material requirements and availability, market potential for both grades, financial projections for the project over 5 years, and questions to be answered regarding project profitability, cash flows, appraisal metrics, and uncertainties.
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.
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.
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.
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.
- 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
- Shiv-Vani Oil & Gas Exploration Services Limited reported consolidated financial results for the year ending March 31, 2013.
- Consolidated operating income decreased by 16.48% to Rs. 12,395 million compared to Rs. 14,840 million in the previous year. Net profit declined by 89.30% to Rs. 224 million from Rs. 2,093 million in 2011-12.
- The company expanded its operations from onshore to offshore drilling by obtaining a contract in Egypt but operations were impacted by the dehiring of some rigs and cancellation of a coal bed methane contract by ONGC.
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.
Southern Chemicals Ltd. is proposing a project to manufacture Di-basic Calcium Phosphate with a capacity of 4,000 MT per year for feed grade and 4,000 MT for pharmaceutical (IP) grade. The key details provided in the document include raw material requirements and availability, market potential for both grades, financial projections for the project over 5 years, and questions to be answered regarding project profitability, cash flows, appraisal metrics, and uncertainties.
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.
Production of 66000 ton/year of Formaldehyde from Methanol using Silver catal...Engr Muhammad Zeeshan
Formaldehyde, the target product is an organic compound representing the most elementary configuration of the aldehydes. It behaves as a synthesis baseline for many other chemical compounds, including phenol formaldehyde, urea formaldehyde, melamine resin, Paints, and Glues. It is also used in medical field i.e. as a disinfectant and preservation of cell and tissues. The aim of this project is to reach 98% conversion of methanol using Silver Catalyst. Detailed calculations were performed in the report for all equipment in the plant including all expenses of the plant erection, taking into account the required process conditions to achieve a production capacity of 66000 ton/year of formaldehyde (as Formalin).
Ashok Leyland has signed an agreement to form a 50:50 joint venture with John Deere to manufacture and market construction equipment in India. The JV will initially produce backhoes and four-wheel drive loaders starting in 2010 and plans to eventually offer a full line of construction equipment. It will combine Ashok Leyland's expertise in automotive manufacturing and distribution with John Deere's technical expertise and experience in construction equipment. The JV aims to tap into the large and growing Indian construction equipment market and export products to other Ashok Leyland and John Deere markets.
The document lists the company name, date, time, reporting period, and estimated earnings per share for major US companies reporting earnings results for the second quarter of 2012. Results will be released throughout July and August 2012.
This document provides information about Kushagra Pundeer's internship at Bharat Heavy Electricals Limited (BHEL) in Bhopal, India. It discusses BHEL's water turbine manufacturing block (WTM Block-1), which machines and manufactures hydro turbine components. The document describes the various bays in the WTM Block-1 that house machines like lathes, drilling machines, and boring machines used to machine components of hydro turbines like shafts, sleeves, and guide pieces. It also acknowledges and thanks those at BHEL who supported and guided Kushagra during the internship.
This document provides an overview of Piping System Limited (PSL), a leading manufacturer of high-strength alloy welded pipes. PSL has key competitive strengths including being an early adopter of high-tensile steel alloy welded pipe technology in India. It offers end-to-end pipeline solutions and has strong project execution capabilities. The document discusses PSL's financial performance, markets, competitors and growth drivers in the domestic and global pipe manufacturing industry. PSL aims to leverage opportunities from increasing oil and gas exploration and production activities globally to drive its business growth.
This document provides an overview of Piping System Limited (PSL), a leading manufacturer of high-strength alloy welded pipes. PSL has key competitive strengths including being an early adopter of high-tensile steel alloy welded pipe technology in India. It offers end-to-end pipeline solutions through its 11 pipe manufacturing plants across India and the UAE. While PSL started as a pipe coating company, it has since diversified into pipe manufacturing with a current high-strength alloy welded pipe capacity of 1.175 million metric tons per annum. The document discusses PSL's financial performance, key clients and management team, and provides an outlook for the growing global steel pipe market driven by increasing oil and gas
The document provides an overview of the tax incentives available to companies with BioNexus Status in Malaysia. It defines key terms and lists the various tax incentives which include income tax exemptions, tax exemptions on dividends, double deductions for R&D and export promotion expenditures, industrial building allowances, tax deductions for investors in BioNexus companies, and exemptions from import duties, sales tax, stamp duty, and property gains tax. The document also outlines the general criteria and application processes for these various tax incentives.
Petrofacts Feb 2011 - Andy Inglis joins PetrofacPetrofacts
February 2011 Issue: Syria: country focus, Turkmenistan project moves into second phase, OE&O business spotlight, Andy Inglis joins Petrofac to lead provision of integrated services.
The document summarizes a final year project evaluating the use of seaweed as a liquid fertilizer and biosorbent. Students extracted seaweed sap to use as a liquid fertilizer and tested its effectiveness on flowering plants. The leftover seaweed residue was tested for absorbing heavy metals as a biosorbent and extracting lipid oil for potential biofuel production. Key results found that a balanced NPK fertilizer was most effective for plants, seaweed was effective as a biosorbent under optimized pH and time conditions, and only a minimal amount of lipid oil could be extracted from seaweed for biofuel.
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.
This document provides an overview of Electrosteel Steels Limited (ESL), including its vision, mission, products, organizational structure, and corporate social responsibility activities. It discusses ESL's parent company, Electrosteel Group, outlining its history dating back to 1955. The Electrosteel Group includes companies like Electrosteel Casting Limited, Srikalahasthi Pipes Limited, and ESL. The document then introduces the topic of employee retention and its importance for organizations.
Paul Goodfellow– Haynesville operations and operating principlesShell plc
Shell held a field visit for Socially Responsible Investors in Houston and in the Haynesville gas field, Louisiana, at which Russ Ford, EVP onshore gas, John Hollowell, EVP deepwater and Paul Goodfellow, VP production onshore gas all presented. The focus of the presentations and visit was to illustrate Shell’s tight gas operations in the context of sustainable development and our commitment to responsible deepwater operations.
This document provides a summary of Green Circle Inc.'s partial overseas and domestic client credentials for oil, gas, and other sectors. It lists 12 overseas clients from the UAE, Oman, Saudi Arabia, Iran, India, and Thailand where Green Circle conducted projects including HazOp studies, risk assessments, and hazardous area classifications. It also lists 16 domestic oil and gas clients from organizations like IOCL, HPCL, GAIL, BPCL where Green Circle conducted similar process safety studies on pipelines, terminals and other facilities across India. Additionally, it lists 9 domestic clients from fertilizer, chemical and other industries where Green Circle conducted safety audits.
This document provides information on the directors, management, bankers, auditors and registered office of Aditya Birla Chemicals (India) Limited. It lists the directors of the company, identifies the managing director and company secretary, and provides contact information for the registered office. It also includes sections on the financial performance, operating results, community services, safety and environmental protection efforts of the company.
This document provides an overview of Blue Star Ltd, an Indian air conditioning company. It discusses the company's vision, history of growth since 1943, manufacturing facilities and processes, product lines, research and development efforts, and key technology and business partners. Blue Star focuses on commercial and corporate customers and has annual revenues of Rs 2270 crores. It has manufacturing plants in multiple locations across India and sells a wide range of air conditioning and refrigeration products.
Александр Белокрылов, Александр Мироненко. Java Embedded у вас домаVolha Banadyseva
The document discusses how Java can be used for embedded systems and IoT applications. It describes Java ME Embedded and how it provides tooling, cross-platform capabilities, security and connectivity for small devices. Examples are given of areas where embedded Java is used like automation, telemetry, vending machines and smart homes. The document then focuses on new features in Java ME 8 and limitations compared to desktop Java. It provides demos of Java ME Embedded interacting with hardware like sensors and relays. Contact details are given at the end for Oracle representatives who can provide more information.
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.
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.
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.
Production of 66000 ton/year of Formaldehyde from Methanol using Silver catal...Engr Muhammad Zeeshan
Formaldehyde, the target product is an organic compound representing the most elementary configuration of the aldehydes. It behaves as a synthesis baseline for many other chemical compounds, including phenol formaldehyde, urea formaldehyde, melamine resin, Paints, and Glues. It is also used in medical field i.e. as a disinfectant and preservation of cell and tissues. The aim of this project is to reach 98% conversion of methanol using Silver Catalyst. Detailed calculations were performed in the report for all equipment in the plant including all expenses of the plant erection, taking into account the required process conditions to achieve a production capacity of 66000 ton/year of formaldehyde (as Formalin).
Ashok Leyland has signed an agreement to form a 50:50 joint venture with John Deere to manufacture and market construction equipment in India. The JV will initially produce backhoes and four-wheel drive loaders starting in 2010 and plans to eventually offer a full line of construction equipment. It will combine Ashok Leyland's expertise in automotive manufacturing and distribution with John Deere's technical expertise and experience in construction equipment. The JV aims to tap into the large and growing Indian construction equipment market and export products to other Ashok Leyland and John Deere markets.
The document lists the company name, date, time, reporting period, and estimated earnings per share for major US companies reporting earnings results for the second quarter of 2012. Results will be released throughout July and August 2012.
This document provides information about Kushagra Pundeer's internship at Bharat Heavy Electricals Limited (BHEL) in Bhopal, India. It discusses BHEL's water turbine manufacturing block (WTM Block-1), which machines and manufactures hydro turbine components. The document describes the various bays in the WTM Block-1 that house machines like lathes, drilling machines, and boring machines used to machine components of hydro turbines like shafts, sleeves, and guide pieces. It also acknowledges and thanks those at BHEL who supported and guided Kushagra during the internship.
This document provides an overview of Piping System Limited (PSL), a leading manufacturer of high-strength alloy welded pipes. PSL has key competitive strengths including being an early adopter of high-tensile steel alloy welded pipe technology in India. It offers end-to-end pipeline solutions and has strong project execution capabilities. The document discusses PSL's financial performance, markets, competitors and growth drivers in the domestic and global pipe manufacturing industry. PSL aims to leverage opportunities from increasing oil and gas exploration and production activities globally to drive its business growth.
This document provides an overview of Piping System Limited (PSL), a leading manufacturer of high-strength alloy welded pipes. PSL has key competitive strengths including being an early adopter of high-tensile steel alloy welded pipe technology in India. It offers end-to-end pipeline solutions through its 11 pipe manufacturing plants across India and the UAE. While PSL started as a pipe coating company, it has since diversified into pipe manufacturing with a current high-strength alloy welded pipe capacity of 1.175 million metric tons per annum. The document discusses PSL's financial performance, key clients and management team, and provides an outlook for the growing global steel pipe market driven by increasing oil and gas
The document provides an overview of the tax incentives available to companies with BioNexus Status in Malaysia. It defines key terms and lists the various tax incentives which include income tax exemptions, tax exemptions on dividends, double deductions for R&D and export promotion expenditures, industrial building allowances, tax deductions for investors in BioNexus companies, and exemptions from import duties, sales tax, stamp duty, and property gains tax. The document also outlines the general criteria and application processes for these various tax incentives.
Petrofacts Feb 2011 - Andy Inglis joins PetrofacPetrofacts
February 2011 Issue: Syria: country focus, Turkmenistan project moves into second phase, OE&O business spotlight, Andy Inglis joins Petrofac to lead provision of integrated services.
The document summarizes a final year project evaluating the use of seaweed as a liquid fertilizer and biosorbent. Students extracted seaweed sap to use as a liquid fertilizer and tested its effectiveness on flowering plants. The leftover seaweed residue was tested for absorbing heavy metals as a biosorbent and extracting lipid oil for potential biofuel production. Key results found that a balanced NPK fertilizer was most effective for plants, seaweed was effective as a biosorbent under optimized pH and time conditions, and only a minimal amount of lipid oil could be extracted from seaweed for biofuel.
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.
This document provides an overview of Electrosteel Steels Limited (ESL), including its vision, mission, products, organizational structure, and corporate social responsibility activities. It discusses ESL's parent company, Electrosteel Group, outlining its history dating back to 1955. The Electrosteel Group includes companies like Electrosteel Casting Limited, Srikalahasthi Pipes Limited, and ESL. The document then introduces the topic of employee retention and its importance for organizations.
Paul Goodfellow– Haynesville operations and operating principlesShell plc
Shell held a field visit for Socially Responsible Investors in Houston and in the Haynesville gas field, Louisiana, at which Russ Ford, EVP onshore gas, John Hollowell, EVP deepwater and Paul Goodfellow, VP production onshore gas all presented. The focus of the presentations and visit was to illustrate Shell’s tight gas operations in the context of sustainable development and our commitment to responsible deepwater operations.
This document provides a summary of Green Circle Inc.'s partial overseas and domestic client credentials for oil, gas, and other sectors. It lists 12 overseas clients from the UAE, Oman, Saudi Arabia, Iran, India, and Thailand where Green Circle conducted projects including HazOp studies, risk assessments, and hazardous area classifications. It also lists 16 domestic oil and gas clients from organizations like IOCL, HPCL, GAIL, BPCL where Green Circle conducted similar process safety studies on pipelines, terminals and other facilities across India. Additionally, it lists 9 domestic clients from fertilizer, chemical and other industries where Green Circle conducted safety audits.
This document provides information on the directors, management, bankers, auditors and registered office of Aditya Birla Chemicals (India) Limited. It lists the directors of the company, identifies the managing director and company secretary, and provides contact information for the registered office. It also includes sections on the financial performance, operating results, community services, safety and environmental protection efforts of the company.
This document provides an overview of Blue Star Ltd, an Indian air conditioning company. It discusses the company's vision, history of growth since 1943, manufacturing facilities and processes, product lines, research and development efforts, and key technology and business partners. Blue Star focuses on commercial and corporate customers and has annual revenues of Rs 2270 crores. It has manufacturing plants in multiple locations across India and sells a wide range of air conditioning and refrigeration products.
Александр Белокрылов, Александр Мироненко. Java Embedded у вас домаVolha Banadyseva
The document discusses how Java can be used for embedded systems and IoT applications. It describes Java ME Embedded and how it provides tooling, cross-platform capabilities, security and connectivity for small devices. Examples are given of areas where embedded Java is used like automation, telemetry, vending machines and smart homes. The document then focuses on new features in Java ME 8 and limitations compared to desktop Java. It provides demos of Java ME Embedded interacting with hardware like sensors and relays. Contact details are given at the end for Oracle representatives who can provide more information.
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.
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.
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.
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.
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.
Asian Granito India Ltd is a manufacturer of ceramic tiles based in India. The report provides an overview of the company's background, products, financial performance and recent developments. Key points include:
- The company has expanded its production capacity significantly over the past decade and now has 8 manufacturing plants.
- In FY14, revenues were Rs. 759 crore and net profit was Rs. 14.15 crore. In Q1 FY15, revenues were Rs. 176 crore and net profit was Rs. 3.35 crore.
- Recent developments include opening new showrooms, acquiring a new subsidiary, and using contract manufacturing to further expand production capacity.
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.
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.
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.
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 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
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.
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.
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.
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.
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.
The document provides an overview of MBD Org Chart, activities, and De Nora Group organization. It includes:
1. An MBD org chart showing the corporate manager and various departments, including marketing, business development, sales regions, and their connections.
2. Details on the business development manager role and responsibilities, including product portfolio management, market analysis, and identifying business opportunities.
3. An overview of De Nora Group's organization worldwide in 2010, including its production facilities, markets, main customers, and competitors.
The Battery Show Japan Showcase Presentation.pdfBeneq
Battery Japan 2023
September 13-15, 2023
Atomic Layer Deposition and some of the aspects around using R2R ALD Coatings for Battery Cell Interfaces.
Presented by Dr. Andrew Cook from Beneq Oy
Roll-to-Roll ALD Coatings for Battery Cell Interfaces at Production ScaleBeneq
ALD/AVS 2022
Presented by D.Sc. Andrew Cook
ALD is an enabling technology for future batteries. ALD technology introduction has been hindered by lack of production scale equipment, but now Beneq R2R ALD technology offers a straightforward scale-up path to mass-production. Beneq has a long experience with R2R ALD on other application areas, and is now applying that know-how to offer R2R ALD solutions for battery manufacturing.
Sapphire Applications & Market: from LED to Consumer Electronic August 2014 2...Yole Developpement
Apple saved the sapphire industry in 2013 and could transform it in 2014.
Will the revolution happen?
WHAT’S NEW COMPARED TO LAST EDITION?
Updated analysis of new consumer electronic applications: smart watches, camera lens and fingerprint reader covers, and display cover
New application: sapphire as a packaging substrates for LED filaments.
Updated analysis of the GTAT/Apple partnership: display cover manufacturing cost modeling, supply chain capacity analysis, yield impacts and paths to cost reduction
Apple sapphire patent analysis
Recent sapphire substrates price trends
Updated supply and demand analysis.
Recent news
APPLE SAVED THE SAPPHIRE INDUSTRY IN 2013…
The sapphire industry recently ended a long period of depressed pricing and achieved US$936 million in revenue for wafer products in 2013. Recovery was helped by an increase in LED demand due to accelerating adoption in general lighting and a resilient LCD backlight market. But the saving grace was new consumer electronic (CE) applications: camera lens and fingerprint reader covers, mostly driven by Apple in 2013. Adoption at other vendors is progressing at a slower pace than anticipated in 2014. LG even reversed the trend with its flagship cellphone: its G2 model featured a sapphire lens cover but the G3 uses glass. However, we are optimistic for the mid-term with adoption increasing in Taiwan and China. In addition, new applications such as LED filaments could further increase sapphire consumption.
After almost 2 years of losses, the price of sapphire cores increased more than 50% in 2013. In Q2-2014, tier-1 sapphire vendors were finally selling at breakeven prices. However, we expect that prices will decrease again in Q4.
The updated report provides historical price trends and forecasts for cores and wafers, detailed capacity and revenue analysis, rankings and market share, as well as a thorough supply vs. demand analysis.
More information on that report at http://www.i-micronews.com/reports/Sapphire-Market-LED-Consumer-Electronic-August-2014-Edition/3/455/
GaN-on-Si Substrate Technology and Market for LED and Power ElectronicsYole Developpement
GaN-on-Si enables GaN power electronics, will LED transition as well?
GaN-ON-Si LED IS ALREADY ADOPTED BY SOME LED MANUFACTURERS, BUT COULD IT BECOME THE INDUSTRY STANDARD?
Today, GaN on Sapphire is the main stream technology for LED manufacturing. GaN-on-Si technology appeared naturally as an alternative to sapphire to reduce cost. Our cost simulation indicates that the differential in silicon substrate cost is not enough to justify the transition to GaN-on-Si technology. The main driver is the ability to manufacture in existing, depreciated CMOS fabs in 6” or 8”.
Despite potential cost benefits for LEDs, the mass adoption of GaN-on-Si technology for LED applications remains unclear. Opinions regarding the chance of success for LED-on-Si vary widely in the LED industry from unconditional enthusiasm to unjustified skepticism. Virtually all major LED makers are researching GaN-on-Si LED, but few have made it the core of their strategy and technology roadmap. Among the proponents, only Lattice Power, Plessey and Toshiba have moved to production and are offering commercial LED-on-Si.
At Yole Développement, we believe that although significant improvements have been achieved, there are still some technology hurdles (performance, yields, CMOS compatibility). We consider that if the technology hurdles are cleared, GaN-on-Si LEDs will be adopted by some LED manufacturers, but will not become the industry standard. We expect that Silicon will capture less than 5% of LED manufacturing by 2020.
GaN-ON-Si TECHNOLOGY WILL BE WIDELY ADOPTED BY POWER ELECTRONICS APPLICATIONS
The power electronics market addresses applications such as AC to DC or DC to AC conversion, which is always associated with substantial energy losses that increase with higher power and operating frequencies. Incumbent silicon based technology is reaching its limit and it is difficult to meet higher requirements. GaN based power electronics have the potential to significantly improve efficiency at both high power and frequencies while reducing device complexity and weight. Power GaN are therefore emerging as a substitution to the silicon based technology. Today, Power GaN remains at its early stage and presents only a tiny part of power electronics market.
We are quite optimistic about the adoption of GaN-on-Si technology for Power GaN devices. GaN-on-Si technology have brought to market the first GaN devices. Contrary to the LED industry, where GaN-on-Sapphire technology is main stream and presents a challenging target, GaN-on-Si will dominate the GaN based power electronics market because of its lower cost and CMOS compatibility. Although GaN based devices remain more expensive than Si based devices today, the overall cost of GaN devices for some applications are expected to be lower than Si devices three years from now, according to some manufacturers.
http://www.i-micronews.com/reports/GaN-on-Si-Substrate-Market-LED-Power-Electronics/3/424/
Hindustan Dorr-Oliver Limited was formed in the 20th century by entrepreneurs who developed mining equipment. It entered the Indian market in 1942 and became a public limited company. In 2005 it became part of infrastructure company IVRCL Limited. Hindustan Dorr-Oliver Limited now provides engineering, procurement, and construction services for water and wastewater, minerals processing, chemicals and fertilizers, and pulp and paper industries. It has over 1,500 employees and partnerships with global technology companies.
Innovation - Way to Commercial Success, Mikko Saikkonen, BeneqBusiness Finland
Beneq is an equipment and technology provider for thin film coatings based on atomic layer deposition and atmospheric aerosol technologies. It has 85 employees and annual turnover of 18 million euros. Its products are used in applications such as solar energy, optics, electronics, and medical. Beneq licenses its coating technologies and has over 100 patent families. It provides equipment for research and industrial production purposes. Its strategy is to identify business opportunities, understand customer needs, and commercialize coating solutions. Networking and open innovation are important for Beneq as a high-growth small-to-medium enterprise.
CADE is an engineering company specialized in renewable energy, energy efficiency, environment and oil & gas. It provides advanced engineering services through mechanical and process engineering. Some of its areas of expertise include engineering of heat and process equipment, heat transfer, heat recovery, drying processes, and steam generation. It has completed over 700 projects nationally and internationally. CADE integrates engineering services and in-house technologies, positioning itself as a renowned provider of advanced engineering services and technological solutions in energy and process industries.
1) Established in 1952, Ador Welding Ltd is a leading manufacturer of welding electrodes, industrial electronics, and power equipment in India.
2) Over the past 60 years, Ador has pioneered many welding technologies and solutions in India and has played a key role in numerous infrastructure projects across sectors.
3) Ador has three manufacturing plants, 20 area offices in India, and 1 overseas office to cater to customers' needs. It aims to be a complete welding solutions provider offering consumables, equipment, and automation.
Western Europe Area Manager oversees P&L management, business planning, sales, marketing operations, and HR for Western Europe. Revenues have grown from €8 million in 2011 to over €16 million in 2014 through organizational changes, improving net profits, and establishing new subsidiaries. The main targets have been increasing market share in chemicals & healthcare and water & industry sectors against competitors like Saier and Idex. Future goals include identifying high potential customers, improving sales effectiveness, and adapting to changes in the competitive landscape.
Electro Adda has been producing solely electric motors for every kind of industrial sector and special demanding applications for over 60 years. In the field of electric motors Electro Adda means "made in Italy". It has recently given impetus to new development programmes to win the newest and most competitive international challenges.
Identity which is founded on a valuable DNA, applications which result from a unique multi-sector experience, technology to improve your work: this is now
OUR FUTURE IS TO CARRY OUT THE SPECIFIC REQUIREMENTS OF YOUR PROJECTS
The document summarizes a presentation on electric energy storage systems and opportunities. It discusses how energy storage can help integrate renewable resources and manage grid assets. A variety of energy storage technologies are being demonstrated, but costs remain challenging. Opportunities exist across the energy storage value chain, including in materials, power electronics, and as service providers. Energy storage could maximize PV penetration and support customer energy solutions by providing non-storage options.
Consult your board manufacturer at the outset of design to identify materials that would provide the optimum balance of price, manufacturability, and performance based on your construction. Find out why by viewing this presentation.
Challenges and solutions for improved durability of materials - Coatings done...Sirris
This webinar discussed challenges and solutions for improving durability of materials for shell & tube heat exchanger coatings. It provided an overview of Donelli Alexo and Säkaphen coating companies and their facilities. It then reviewed the ISO 12944 standard for selecting coating systems based on identifying the corrosivity category of the operating environment and desired durability timeframe. Specific coating system examples were given for carbon steel in different corrosivity categories. The webinar also discussed fouling issues in heat exchangers and how coatings can help reduce fouling and its negative impacts on performance. Real-world case studies demonstrated significant fouling reduction from coatings. The webinar closed by considering topics for future discussion
This document is a resume for Amitkumar Sahoo summarizing his experience and qualifications. He has over 5 years of experience in process automation and embedded design. His technical skills include expertise in automation development, control panel design, PLC programming, microcontroller programming, and C programming. He has worked on multiple industrial automation and embedded projects for companies in various industries like steel, coal handling, and oil and gas.
This document is a resume for M.S Mohan Kumar summarizing his experience and qualifications. It outlines his objective of seeking a senior design engineer position, over 4 years of experience in product design and development using SOLIDWORKS, NX and AUTOCAD. It provides details of his past roles at Rockwell Industry Limited, SEC Industries and Hi-Tech Hydraulics as a design engineer. Key responsibilities included 3D modeling, drafting, project management and liaising with production. Major projects are listed involving design of transportation vehicles, integration jigs and hydraulic components.
Angstrom was established in 1988 in Meyerton, South Africa and has since expanded its business and services. It provides project management, engineering services, and supplies capital equipment and parts from original equipment manufacturers. Angstrom has adopted a black economic empowerment strategy and its companies have various BEE compliance levels. It is a group of engineering support entities that deliver value through manufacturing, maintenance, and service provision using best technology and expertise.
JDR is a leading provider of custom-designed and manufactured subsea power cables, umbilical systems and reeler packages for a broad range of applications.
JDR's significant portfolio of product design, manufacture and delivery extends throughout the oil and gas sector and the offshore renewables market. JDR's subsea wellhead, production and workover umbilicals are installed and used around the world, with turnkey systems and reeler packages engineered and manufactured to exacting standards for operation in the most challenging of environments.
An accomplished track record of meeting client expectations and a commitment to lifecycle customer service makes JDR the offshore energy industry's global Partner of Choice.
Rautomead Newsletter issue 11 pink
continuouscasting.com
For over 30 years Rautomead Limited has specialised in the design and manufacture of continuous casting equipment for non-ferrous metals and alloys. There are now more than 300 Rautomead machines in operation in over 45 different countries worldwide.
Rautomead plants are being successfully applied to production of oxygen-free copper, a wide range of copper-based alloys, precious metals and zinc. Forms include wire rod, straight length bars, flats and hollow sections. According to material and section, the casting process selected may be vertical upwards, vertical downwards or horizontal. The machines may be used either as integrated melting, holding and casting machines, or may be arranged to be fed with pre-alloyed molten metal.
The Rautomead Continuous Casting System is based on electric resistance heating of its furnaces, with graphite containment crucibles, graphite heating elements and casting dies. This technology is particularly suited for production of high purity, high quality oxygen-free copper and copper alloy wire rods (copper silver, copper magnesium, copper tin).
The upward casting equipment may be used to manufacture rods of all diameters between 8.0mm and 30mm diameter and is suitable feedstock for wire drawing and continuous rotary extrusion processes. End use applications include: superfine wire, automotive wires, contact wire and trolley wires for high speed trains, data communication cables, CTC and transformer strips as well as enamelled wires.
Rautomead’s R&D facility at the factory in Dundee (casting equipment, technicians, design and operational experience) is available to companies who wish to commission experimental and research work to develop technology and tooling for the manufacture and processing of new alloys and materials. Rautomead’s partnership with the University of Dundee provides access to sophisticated laboratory equipment as well as support with analytical evaluation and academic contributions to the R&D effort
Started back in 1997, Televac is a pioneer in GTM seals and for 18 years, we have strived to provide only the best quality seals with higher higher temperature withstanding capacities, We get our components from only the best suppliers and all our seals are tested under rigorous tests so as to give only the highest quality seals. For more details you can contact us at televac@gmail.com.
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 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
The document recommends buying shares of Capital First Ltd, an Indian financial services company. It predicts the stock price will rise 16.2% within 90 days based on technical analysis showing the stock has outperformed the market over the last year and supports and resistances. Financial results for the past four quarters are provided, showing increasing revenue and profit. The recommendation is to purchase the stock for short-term gains of 15% over the next 90 days based mainly on technical analysis of past stock performance.
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.
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.
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.
The document recommends buying shares of L&T Finance Holdings Ltd, an Indian finance company. It gives a target price of Rs. 89 in 90 days, up 15.7% from the current price of Rs. 76.90. Key details provided include the company's financial performance, share price resistance and support levels, and a technical analysis basis for the recommendation. The document disclaims any warranty and advises that investments discussed may not be suitable for all investors.
The document recommends buying shares of Repco Home Finance Ltd, an Indian housing finance company. It provides analysis showing the stock price is currently undervalued and has potential for 15.6% upside growth within 90 days. Financial data for the past four quarters show Repco's steady revenue, net profit, and EPS increases. The recommendation is based on technical analysis showing the stock's historical outperformance of market indexes and support levels that suggest further price appreciation.
3. HIDDEN GEMS – NOV 2010
1. Company Background
De Nora India Limited is a Public Limited Company with 51% equity held by De Nora. The
Company is a subsidiary of the De Nora and has brought to India the latest
technologies with the complete support of De Nora's technical expertise and
management. The company is headed by Mr S. C. Jain, Managing Director, who leads a
team of professionals with vast experience.
De Nora India as part of De Nora is leader in the field of:
Electrochlorinators
Cathode & Anode for Chlor-Alkali Industry
Cathodic Protection Systems
Electrowinning
With his factory in Goa with state-of-the-art facilities, De Nora India meets the demands
of the rapidly developing Chlor-alkali industry. This factory also provides access to the
Goa port facilities for company’s future export commitments. This service is provided
through a team of specialists, a centralized data bank and access to the vast technology
resources of De Nora. De Nora India's strength lies in its technical expertise backed by
its well trained team of specialists. Of course, there is the additional benefit of the direct
technical support of De Nora’s highly trained engineering staff, ready to discuss the
needs of any prospective client, to define the best optimized solution.
In keeping with the philosophy of the De Nora, De Nora India Limited provides its
valuable customers, not only a superior product, but also technical assistance, in
installation and operation of their electrodes, for both, new and retrofitted cells of
different technologies, through out their operating life.
-3- SARAL GYAN CAPITAL SERVICES
4. HIDDEN GEMS – NOV 2010
De Nora Product Overview
De Nora provides products and services based on electrochemical technology through
two main product lines:
Chlor-Alkali which makes a full range of products and systems for chlorine and
alkali, and sodium and potassium chlorate commodity chemical producers.
Oxygen & Specialties designs, develops and manufactures electrodes, anode
coatings and systems for several electrochemical applications.
De Nora can service a wide range of customer technical needs for all the
electrochemical processes with:
Anodes and cathodes for Chlor Alkali Industry (Amalgam/Diaphragm/IEM cells)
Anodes, Cathodes and GDE for Hydrochloric Acid Electrolysis
Anodes for Chlorate and Perchlorate production
Anodes for Surface Finishing
Anodes for Electronics
Anodes for Electrowinning and metal recovery
Anodes for Pool chlorination
Anodes for Industrial Electrochlorination
Anodes for Cathodic Protection systems
Anodes for Water Treatment
Range of DSA® Anodes applications
DSA® Anodes are titanium anodes coated with a proprietary and patented Mixed Metal
Oxide (MMO) solution of Precious Metals such Iridium, Ruthenium, Platinum, Rhodium,
Tantalum.
Thanks to their specific characteristics and the changes in the coating formulation and in
the coating techniques, the use of DSA® Anodes supplied by De Nora can range from the
long established application in the Chlor-Alkali industry to the most recent utilization in
a wide range of other uses in the Electro-galvanic industry, Copper foil, Printed Wiring
Board, various water treatment processes, and ultimately Cathodic Protection against
corrosion for the iron structures in soil, in concrete, sea water etc.
The direct sea water Seaclor® electrochlorination systems are to-day marketed by a
sister company, Severn Trent De Nora, to which De Nora supplies the electrode packs on
an exclusive basis.
-4- SARAL GYAN CAPITAL SERVICES
5. HIDDEN GEMS – NOV 2010
Energy saving and environment protection
De Nora ’s main objective has always been the improvement of its proprietary coatings
to achieve the longest possible life in operation and the reduction on power
consumption of the anodes. Today De Nora offers (through its Spare Parts & Service
Division) Zero Mercury Emission packages for the improvement of the cathodic area of
the amalgam cells reducing the loss of Mercury to well below the limits imposed by
authorities.
In the field of Surface Finishing De Nora offers GreenChrome™ a specifically customized
product for the decorative chrome plating processes that obtain excellent results
allowing the conversion of carcinogen Cr6+ baths to environmentally and non poisonous
Cr3+ baths.
Services
Uhde GmbH and Uhdenora S.P.A. manufacture IEM and HCl electrolysers for their
licensees in De Nora Deutschland, one of the factories of De Nora that has been
equipped, since 1998, with Laser welding machines customized for the assembly of the
latest generation of anodic and cathodic “single element” with proprietary DSA®
Anodes, activated cathodes and ELAT™, in cases of HCl specifically developed for these
cells.
All the electrochlorination systems marketed by Severn Trent De Nora are equipped
with electrode packs coated and assembled either in Italy, in De Nora Elettrodi
(Suzhou)and in De Nora Tech.
Financial – Leasing opportunities
In the seventies, when the metallic anodes coated with Mixed Metal Oxides were
initially commercialized, Permelec, now De Nora, started manufacturing the anodic
structures at its own cost offering them to its Customers on a Lease basis granting a
continuous electrodes efficiency by a scheduled maintenance and re-coating service
under its full responsibility and expense.
Today, De Nora owns more than 80,000 anodic structures installed in amalgam plants
and almost 200,000 anodes installed in diaphragm technology plants: the world’s largest
DSA® Anodes structures inventory.
De Nora is always available to study and prepare a financing scheme based on a lease
contract, in particular when working with partners like Uhde and Uhdenora, also for the
IEM technology even if for such a technology the anodes and cathodes are an integral
part of the Electrolyzer structures.
-5- SARAL GYAN CAPITAL SERVICES
6. HIDDEN GEMS – NOV 2010
Product Range - Chlor Alkali
De Nora’s roots in the chlorine and chlorate industries run deep. From the creation of
the earliest commercial diaphragm cells in the early 1900s, to the development of the
very first membrane cell and now the most competitive anode coatings available. The
introduction of DSA® Anodes in mercury cells was justified primarily by the benefit of
power savings and the elimination of some hazardous plant operations associated with
the use of graphite anodes, increased production, and product quality.
De Nora efforts are aimed at radically improving the economics of the Chlor-Alkali
business studying components like Gas Diffusion Electrodes that are going to be the
feature of choice for the future generation of high CD IEM. Company offers recoating
techniques for almost any IEM cell type. De Nora has developed cathode coatings
suitable for all technologies and reduce cell voltage.
AMALGAM DIAPHRAGM MEMBRANE CHLORATE
De Nora provides:
DSA® Anodes, the most successful and economical electrode for the production
of chlorine and caustic soda by MEMBRANE/AMALGAM/DIAPHRAGM
technologies.
Anodes for different types of mercury cells under a lease or purchase program.
Services for the anode structures include repair work and renewal of the DSA®
Anodes coating with the recoating of deactivated electrodes including the
necessary mechanical repairs to the structures.
Technical Assistance to train and support customers in the installation, use and
operation of cells and anodes.
Diaphragm that eliminate the need for asbestos, cell tops that last decade or
more, and everyday spare parts to keep existing plants running like new.
-6- SARAL GYAN CAPITAL SERVICES
7. HIDDEN GEMS – NOV 2010
Product Range - Oxygen & Specialities
The Oxygen & Specialties business evolved from De Nora's goal to extend its
electrochemical technology beyond the chlor-alkali applications. DNOx supplies
innovative DSA® Anodes and systems that provide our customers lower operating costs,
improved performance and higher throughput.
De Nora's works closely with existing and potential customers to identify and respond
their needs and opportunities. De Nora innovative technical capability comes from:
In-depth knowledge and understanding of insoluble anode processes.
World leadership in DSA® Anodes technology.
High performance, formulated mixed metal oxide anode catalyst coatings and
titanium anode structure design.
A diversified and professional staff of in-house electrochemists, engineers and
R&D scientists.
A full range of service and technical support available around the world.
ELECTROWINNING EMEW ELECTRONICS ELECTROCHLORINATION
Oxygen & Specialties is committed to excellence in various electrochemical process.
Company focuses on technical expertise and DSA® Anodes product’s to provide their
clients with practical, workable solutions to your most difficult electrochemical
challenges.
Surface Finishing
Electronics
Water treatment
Pool chlorination and SPA Disinfection
Industrial Electrochlorination
EMEW and Electrowinning
Cathodic Protection
Other Specialties
-7- SARAL GYAN CAPITAL SERVICES
8. HIDDEN GEMS – NOV 2010
2. Recent Developments
i) De Nora – A Distinguished presence at the KPCA show 2010 in Korea (Aug 2010)
The KPCA show was an excellent opportunity for the company to look around the recent
trends of the electronic circuit industry and to show the latest PCB production
technologies.
De Nora stands presence at the exhibition has been an ideal opportunity to create
possible business opportunities for De Nora and to allow its customers to be informed
on the most advanced insoluble anode technology in copper plated micro via
metallization as well as via filling in both vertical and horizontal plating processes.
Company exhibition was successful at the KPCA 2010 show in Korea
ii) Acquisition of full control of Permelec Electrode Ltd. and majority of Chlorine
Engineers Corp. Ltd. (Sep 2010)
Industrie De Nora S.p.A. (De Nora) has reached an agreement with Mitsui and Co., Ltd.
(Mitsui), for the purchase of all the shares held by Mitsui in order to reach 100%
ownership of PERMELEC ELECTRODE Ltd. (PEL), in Fujisawa-shi, Japan.
PEL was founded by Mitsui and De Nora as a 50-50% Joint Venture in 1969 to serve the
Japanese Chlor Alkali market.
This acquisition is an important step for De Nora to improve its global manufacturing
capacity and will further strengthen the ongoing technical exchange between De Nora
and PEL for the continuing development of high performing electrodes.
The move shall ensure that the world Chlor Alkali Industry will benefit even more from
De Nora’s well proven experience in cutting edge coating manufacturing facilities and
electrochemical technologies.
In the framework of the final agreement reached with Mitsui in this transaction, De
Nora has also secured the control of CHLORINE ENGINEERS Corp. Ltd. (CEC), in Tokyo,
Japan, Mitsui’s subsidiary engaged in engineering and manufacturing of sodium chloride
electrolysis plants.
CEC has been expanding its activities since its foundation in 1973 and has licensed a
significant share of the worldwide chlorine production by ion exchange membrane
process.
-8- SARAL GYAN CAPITAL SERVICES
9. HIDDEN GEMS – NOV 2010
De Nora and CEC will align a combined portfolio of products and solutions to improve
plant performance and will offer to CEC Licensees, prompt and reliable assistance in the
maintenance and servicing of their plants, deploying the resources of De Nora’s
Network of Companies.
The combination of the expertise and resources shall be very beneficial to CEC’s attempt
to better serve its customer base and shall allow CEC customers to improve the
operation of their chlorine plants.
With the acquisition De Nora is also enlarging its technology platform, since both PEL
and CEC are involved in the development and the commercialization of novel
electrochemical processes driven by the environmental pressure, especially in the field
of Water Treatment and Clean Energy.
The move reflects De Nora’s renewed commitment to further develop its business,
remaining very focused on the electrochemical technologies – both in Chlor Alkali and
Environmental applications and its goal, to not only be a reliable supplier of
technologies but also a dynamic and innovative partner with a long term vision.
-9- SARAL GYAN CAPITAL SERVICES
10. HIDDEN GEMS – NOV 2010
3. Financial Performance
De Nora India reports net profit of Rs 9.72 million in the September 2010 quarter
De Nora India reported net profit of Rs 9.72 million in the quarter ended September
2010 as against net loss of Rs 10.2 million during the previous quarter ended September
2009. Sales rose 55.72% to Rs 44.13 million in the quarter ended September 2010 as
against Rs 28.34 million during the previous quarter ended September 2009.
De Nora India net profit rises 105.17% in the June 2010 quarter
Net profit of De Nora India rose 105.17% to Rs 11.9 million in the quarter ended June
2010 as against Rs 5.82 million during the previous quarter ended June 2009. Sales rose
56.08% to Rs 46.3 million in the quarter ended June 2010 as against Rs 29.6 million
during the previous quarter ended June 2009.
Last 6 Quarters Net Sales & Profit
60
52.05
50 46.3 44.13
40
31.83 29.58
28.34
Rs in Millions
30
20
11.9 9.72
9.18
10 5.82
0
-0.49
-10
-10.2
-20
1 2 3 4 5 6
Net Sales 31.83 28.34 52.05 29.58 46.3 44.13
Net Profit 5.82 -10.2 9.18 -0.49 11.9 9.72
Jun 09 Sep 09 Dec 09 Mar 09 Jun 10 Sep 10
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11. HIDDEN GEMS – NOV 2010
Current & Expected Earnings:
Quarterly Ended Profit & Loss Account
Particulars Dec Mar Jun Sep Dec Mar
(Rs in Millions) 2009 2010 2010 2010 2010 E 2011 E
Audited / UnAudited UA UA UA UA UA UA
Net Sales 52.05 29.58 46.3 44.13 64.63 43.87
Total Expenditure 43.5 31.85 35.83 41.57 53.51 31.92
PBIDT (Excl OI) 8.55 -2.27 10.47 2.56 11.12 11.95
Other Income 2.42 4.57 4.43 2.6 3.67 4.93
Operating Profit 10.98 2.31 14.9 5.16 14.79 16.88
Interest 0 0.04 0.03 0.04 0.04 0.04
Exceptional Items 0 0 0 0 0 0
PBDT 10.98 2.27 14.87 5.12 14.75 16.84
Depreciation 1.66 1.46 1.52 1.49 1.72 1.58
Profit Before Tax 9.32 0.81 13.35 3.63 13.03 15.26
Tax 0.15 1.31 1.45 -6.08 1.43 1.32
Provisions & contingencies 0 0 0 0 0 0
Profit After Tax 9.18 -0.49 11.9 9.72 11.60 13.94
Extraordinary Items 0 0 0 0 0 0
Prior Period Expenses 0 0 0 0 0 0
Other Adjustments 0 0 0 0 0 0
Net Profit 9.18 -0.49 11.9 9.72 11.60 13.94
Equity Capital 55.55 55.55 55.55 55.55 55.55 55.55
Face Value (IN RS) 10 10 10 10 10 10
Reserves 0 0 0 0 0 0
Calculated EPS 1.65 -0.09 2.14 1.75 2.09 2.51
Calculated EPS –Annualized 6.61 -0.35 8.57 7 8.35 10.04
No of Public Share Holdings 2458268 2458268 2458268 2458268 2458268 2458268
% of Public Share Holdings 44.25 44.25 44.25 44.25 44.25 44.25
Expected Earnings for 3rd & 4th Qtr FY 2010-11:
We expect De Nora Ltd will post robust growth in coming quarters with revival
happening in chlor alkali industry. Moreover, company operations in water treatment
industry is expected to do well as De Nora India supplies electro-chlorination
equipments for purifying water for drinking and Industrial purpose.
In financial front, company’s performance has improved significantly showing good
growth in last two quarters. Company has registered sales growth of above 55% in last
two quarters on YoY basis and is expected to sustain similar performance.
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12. HIDDEN GEMS – NOV 2010
4. Charts & Graphs
i) Share Price Moving Average:
De Nora India Ltd is currently trading near to its 50 days and 200 days price moving
average.
ii) Comparative Graph:
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13. HIDDEN GEMS – NOV 2010
iii) Share holding Pattern:
Promoters share holding is 55.74% without any change in terms of holding since last
many quarters. We expect that parent company Gruppo De Nora (Italy) will significantly
increase its operations in India considering business opportunities developing in the
country.
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14. HIDDEN GEMS – NOV 2010
5. Peer Group Comparison
De Nora IFGL Rasi
PEER GROUP India Iykot Hitech Refactories Ador Welding Electrodes
CMP 75.50 23.20 52.80 219.80 24.00
52 W H/L 101.10/60.50 34.90/20.10 73.40/33.60 241.10/133.30 29.80/15.15
Market Cap 419.4 141.15 1827.43 2988.94 114.24
Results (in Mn) Sep-10 Sep-10 Jun-10 Sep-10 Jun-10
Sales 951.93 25.87 449.50 752.22 49.26
PAT 34.83 3.55 6.00 79.16 4.78
Equity 114.11 30.42 346.10 135.99 47.60
EPS 5.46 1.24 3.69 21.75 2.68
P/E 14.27 18.75 14.29 10.10 8.95
6. Key Concerns / Risks
i) Company operates in business which is cyclical in nature showing up and downs
in demand & supply.
ii) Business dependency is directly related to performance of Chlor Alkali Industry.
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15. HIDDEN GEMS – NOV 2010
7. Saral Gyan Recommendation
De Nora India is into a niche segment and commands market share of 75%.
Company uses advance technologies for coating of anode and cathode using in
Chlor Alkali plants and corrosion systems used for preventing corrosion in saw
pipes. De Nora products offering with latest membrane cell technology is
opening new growth opportunities in the country. Further, company also
supplies electro chlorination equipments for water purification.
De Nora India Ltd is an MNC which is expected to trade at premium when
compared to local players, but company is available at decent valuations with
current P/E ratio of 14, giving an opportunity to investors to buy the stock at
current market price. Company business seems to be complex which could be
one of the reasons that stock has overlooked by Investors.
As per our estimates, De Nora can deliver bottom line of 47.5 million for full
financial year 2010 – 11, annualized EPS of Rs 8.55 with forward P/E ratio of 8.83
X for FY 2010-11, which makes stock of the company an attractive bet at current
market price.
Company has paid consistent dividend in past except the last financial year when
company performance was poor due to slowdown in chlor alkali industry.
Dividend of 70% was paid in 2006, 69% in 2007, 58% in 2008, 25% in 2009. De
Nora India Ltd is expected to do well with revival in chlor alkali industry.
On equity of Rs. 55.55 million the estimated annualized EPS works out to Rs. 8.55
and the Book Value per share is Rs. 47.14. At a CMP of Rs. 75.50, stock price to
book value is 1.6. The scrip is trading at 8.83 X FY 2010-11 estimated earnings
which make it an attractive considering the past track record and strong global
presence of De Nora Group.
Saral Gyan Team recommends “BUY” for De Nora India Ltd. at current market price of
75.50 for a target of Rs. 155 over a period of 18-24 months.
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