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Monday, May 4, 2009

Cords Cable Industries Ltd:-Catching Eyeballs

Scripscan:Cords Cable Industries Ltd
Traded in:Nse-bse

Story:The company manufactures cables (including instrumentation and control cables) for various industries, as well as for power transmission. The power sector accounts for nearly 55% of its revenue, followed by the cement sector at 11%. Within the product group, instrumentation and control cables account for 75% of the company''s revenue, and also command better margins. The company largely serves industrial customers.Cords Cable has a facility in Rajasthan, which was expanded some months back.The company has set up another plant for manufacturing rubber cables and HT power cables, which are new segments for the company. With its existing clientele and past experience, breaking into this segment should not be much of a problem.An important feature of the cables business is that while it accounts for only 5-8% of a project''s cost, it has a critical role to play in the success of the project. This is especially true for instrumentation and control cables. This creates an entry barrier, giving existing players an edge in a fast-growing market.The company looks attractively placed in a fast-growing market, which has inter-linkage with all major sectors. With limited number of players and product quality playing a critical role, the company is expected to continue its growth momentum.Gains from expansion should start coming from the coming quarter of the present fiscal.At the present price of 30 odd it looks to be a great bargain.A good buy at dips.

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