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Friday, November 13, 2009

Mukand Ltd:Future growth prospects and outlook,buy/sell/hold,analysis and recomendation

Scripscan:Mukand Ltd
cmp:49
Code:500460

Story:Company produces alloy, special & stainless steel long products of various grades & sections, to international specifications like Japanese(JIS), German(DIN), American(AISI/SAE)& Indian Standards BIS). It was India's first steelmaker to successfully adopt the ‘continuous billet casting' technology using ‘F' type continuous casting machine along with successful implementation of the vacuum oxygendecarburisation technology for the manufacture of stainless steel. It was also the first in the country to install an oxygen top and bottom blown converter for the manufacture of stainless steel. With the growing steel demand in India we think the company has huge growth potential.It produces equipments required by mining, steel industry, space exploration, research , power plants, defence applications. Companyhas worked with the best and the biggest companies in their fields in the world : Dravo Wellman Company (United States of America), Fives-Cail Babacock (France), Hitachi Ltd. (Japan), Lurgi Chemie (Germany), Peiner (Germany), SKET Export-Import (Germany), Skodaexport (Czech republic), Syprim SA (France). It has supplied plant and equipment all over India. Mukand is now equipped with comprehensive and modernmanufacturing facilities and computerized design, planning, procurement and monitoring capabilities, due to which it not just builds machines but total systems for total capabilities.Company has undertaken various major projects in consortium with leading companies like SAIL, NALCO, Indian Space Research organization(ISRO) formanufacture of equipments. Mukand Ltd has two highway construction projects funded by World Bank. The projects are part of the ' Golden Quadrilateral ' announced by the Prime Minister of India. The company supply material, machinery and manpower as well as other services incidental to the execution of the projects.Company is planning to sell its of its surplus land at Kalwa. The proceeds from the sale of the land will be used to partly pay off the debt of the company. Currently the company has debt of Rs.1397 crore. The company has completed Rs 350-crore expansion of its capacity from 300,000 tonnes to 500,000 tonnes of high-quality speciality steel during the second quarter of 2009-10.Company has increased its specialty steel selling price by 5-7%.The industrial machinery division has an order book of Rs.580 crore at the end of September quarter.The company has successfully completed its planned modernization & expansion programme.The company will be able to achieve the full capacity utilization of its specialty steel products by April 2010.At current price of Rs 49.5 the stock is trading at P/E of 5.7 x of FY10E.one can buy it with a taget price of 58rs to be acheiveable over the next few months.
Source:KRC

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Posted by arun at 5:33 AM

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This blog does not share personal information with third parties nor do we store any information about your visit to this blog other than to analyze and optimize your content and reading experience through the use of cookies.You can turn off the use of cookies at anytime by changing your specific browser settings.This privacy policy is subject to change without notice and was last updated on 20.3.2013. If you have any questions, feel free to contact me directly here: arunsharemarket@gmail.com Investment in equity shares has its own risks.Sincere efforts have been made to present the right investment perspective.The information contained herein is based on analysis and up on sources that I consider reliable. I,however,do not vouch for the accuracy or the completeness thereof.This material is for personal information and am not responsible for any loss incurred based upon it & take no responsibility whatsoever for any financial profits or loss which may arise from the recommendations above.The stock price projections shown are not necessarily indicative of future price performance.The information herein, together with all estimates and forecasts, can change without notice.
 
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