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Thursday, December 24, 2009

Alps Industries Ltd:Buy/sell/hold,growth prospects and recomendation,news and results,target price and analysis,views and outlook

Scripscan:Alps Industries Ltd

Story:The Ghaziabad-based company manufactures fabrics and made-ups besides a range of fashion accessory products such as shawls, stoles, mufflers, wraps and scarves.The company also has a range of interior decorative products such as window coverings, awnings, garden umbrellas and wooden floorings. In the domestic market, the products are marketed under its own brands, Le Pashmina and Vista.Its enjoys a good brand image in its sector as far the products are concerned.My doubt lies on the management front.The Company has five Wholly Owned Subsidiary Companies and Key Management Personnel & their relatives control FOURTEEEN other companies. What are the inter-group transfers / transactions / funding / investments is not furnished either by the Managerment or the Statutory Auditor.Even when I tried to have a word with the management in this regard they refrained from speaking about it.Surely there are some hidden negatives in the company which we are not aware off.This is not a play on valuation,prospects or potential.Once the management comes and clarifies the issues it can start rocking again bigtime.Alps used to be one of the stars of early 2006 and even went on to hit a high of 142rs in may 2006.Since then the journey has been an agony for the company and its shareholders.Over 90% of its marketcap has eroded in a matter of 40 months.I feel all the bad news are discounted in the counter and it can only move northwards from these level.One can safely buy the stock at its present face value level of 10-11rs.

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