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Sunday, May 3, 2009

Ambika Cotton Mills Ltd:-One of the cheapest bet in textile sector

Scripscan:Ambika Cotton Mills Ltd
cmp:50
Code:531978

Story:The market has written off cotton textiles companies. But there are good textiles companies doing steady business, earning great returns and are available cheap. Ambika Cotton Mills is one. It produces cotton yarn in various counts for reputed manufacturers of shirts and knitwear products in the domestic as well as the international market. The company has been working on value-added products which yield better margins. To reduce power costs, Ambika has planned to increase the present installed capacity for wind energy from 13.8MW to 17.8MW by installing five windmills of 800kW each at an estimated cost of Rs21.48 crore. While the stock prices of textiles companies have fallen off the cliff, Ambika’ s December quarter was not too bad. Revenues were up 8% and operating profit went up 38%. Its fundamental strength is, however, reflected in its superb 24% operating margin. Its RoE is a great 12%. But what really goes in favour of this stock is its attractive valuation. At its current market price of Rs55, its market-cap is just 0.17 times its five-quarter average annualised sales and 0.68 times its operating profit.Ambika Cotton Mills Ltd is a great buy at dips.

source:Moneylife

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