In 07-08, its PAT came down heavily, mainly due to increased cost of cement and losses suffered by garment division (finally, company sold its garment factory at a loss). However, company has maintained 30% dividend. It allotted 2007995 shares to Shakti Roofing.
Valuations: - Stock is trading at: 1) 2.08 x FY09E EPS., 2) 1.87 X FY10E EPS. Needless to
say that scrip is a screaming buy. Pays 30% dividend. Book value is Rs. 100/-. May pay interim dividend in current year. Promoters are investor friendly and aggressive. Turnover has grown from 5 crs. to 500 crs. in 15 years. Our price target: a) Rs. 105/- in 3-4 months., b) Rs. 150-160 in less than 12 months.
Valuations: - Stock is trading at: 1) 2.08 x FY09E EPS., 2) 1.87 X FY10E EPS. Needless to
say that scrip is a screaming buy. Pays 30% dividend. Book value is Rs. 100/-. May pay interim dividend in current year. Promoters are investor friendly and aggressive. Turnover has grown from 5 crs. to 500 crs. in 15 years. Our price target: a) Rs. 105/- in 3-4 months., b) Rs. 150-160 in less than 12 months.
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