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Thursday, September 17, 2009

Rohit Ferro Tech Ltd:Future growth outlook and prospects(buy/hold or sell?)

Scripscan:Rohit Ferro Tech Ltd

Story:The company has entered into an MOU with PSP Group (PT Pacific Samudra Perkasa) to acquire 60 % economic interest in two coal mining companies in Indonesia through it's newly incorporated wholly owned subsidiary in Singapore named SKP Overseas (SKP). The company will acquire PT Palopo Indah Raya having reserves of 20 million MT and PT Baja Prima Mandiri with reserves of 5 million MT. Both these companies have mining concessions along with exploration, exploitation and marketing & transportation licenses thereby creating immense opportunities in the future.The company had also bought 40 acres of land in Haldia, West Bengal, allotted by Haldia Development Authority (HDA) for setting up a Ferro Alloy plant in the region. The company is proposing to setup a new project with Six 9 MVA furnaces wherein the product mix proposed is Sillico Manganese, Ferro Manganese and FerroSilicon.Alongside for the ore preparation a manganese ore beneficiation and sinter plant of appropriate sizes have also been planned. Being a pioneer in the Ferro alloys space, the company stands in a commendable position to benefit from the growth expected in the industry. Keeping in view the buoyancy in the Ferro space,expected robust financial performance in the coming quarters and the on going capex plans of the company; the stock seems to be an attractive investment opportunity.Buy for 3-5 years perspective.

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