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Tuesday, February 24, 2009

Cheviot Company Ltd:-Buy these gold digger

Scripscan:Cheviot Company Ltd
Code:526817
Cmp:120

Story:Cheviot Company is one of the prime examples of a corporate that makes a lot of money from green fibre and sound investments.Harsh Vardhan Kanoria has created Gold out of an Industry, on which the Sun had literally set with the departure of the British in 1947. Today, with three processing units and a turnover exceeding Rs 179 crore, Cheviot Company makes more money out of Jute and its Corporate Investments, in a year, than most companies would ever make in their lifetime.While Kolkata may hold a different meaning for different people, for the current owners of Cheviot-the Kanoria family, the "Sun Never Set On Jute" even with the collapse of the British empire.The company sits upon a huge pile of reserves, which were placed at Rs 223 crores as of March 2008.The market capitalisation of Cheviot Company works out to just rs 55 crores based upon yesterdays closing price.This is an under-valuation as Cheviot carries Investments on its books which carry a market value of roughly Rs 60 crore. Half of these funds are deployed in prime blue chip stocks and the balance into liquid mutual funds.The Rs 180 crore Jute business that earns close to Rs 22 crore after tax is valued virtually free alongside the investments.Cheviot has a small Equity of Rs 4.5 crore (or 45 lakh shares out of which nearly 73 per cent is held by the promoters), leaving about 11.7 lakh shares spread amongst a huge number of shareholders.The Cheviot management because of high promoter stake has been very liberal on the dividend front over the past few years and the same trend should continue going forward too.Also with large reserves cheviot remains a prime bonus candidate and a bonus seems inevitable.The company is probably the most profitable producer, exporter of Jute sacking cloth and hessian, and blended jute fibre and textiles which are Exported to Western Nations and the Middle East that are once again getting rid of plastic and turning towards Green and Natural Fibres.Considering all the mentioned points buy these gold digger to make your future better and secure.

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