Scripscan:GEE Ltd
cmp:46
Code:504028
Story:GEE Limited engages in the manufacture and sale of welding electrodes and related components in India. Its products include covered electrodes consisting of mild steel, high tensile low alloy, stainless steel, non ferrous, tubular electrodes, low hydrogen, hardfacing, cast iron, and cutting and gouging; low heat input alloys comprising carbon steel, nickel and nickel alloys, and copper and copper alloys; TIG filler wires; MIG / MAG wires; saw wires and fluxes; and flux cored wires. The company exports also its products to Gulf States, East Africa, South Africa, and southeast Asia. GEE Limited is headquartered in Thane, India.To face the adverse economic circumstances, the Company has initiated measures like expansion of its production capacity and has embarked on ambitious expansion plan with a capital outlay of around Rs. 500 Millions. The expansion would be carried out at its Kalyan and Kolkata Plants. The State Bank of India has sanctioned a term loan of Rs. 330 Millions for the said expansion.The new facilities shall start operation by April 2010 and would help it to boost its turnover.GEE also has around 13500 square mtr of its wagle estate land which it plans to develop over a period of time.Management is investor friendly and commited towards increasing the wealth of its shareholders.Some months ago it declared a bonus which speaks about the management confidence and conviction on the prospects of the company.It also paid a dividend of 15% which adds to the moolah.Considering all the stuff its a good bet for the longer term.Buy on dips.
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Thursday, November 12, 2009
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