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Tuesday, January 5, 2010

L G Balakrishnan & Bros Ltd:Buy/sell/hold,growth prospects and recomendation,news and results,target price and analysis,views and outlook

Scripscan:L G Balakrishnan & Bros Ltd

Story:The Company's principal activity is to manufacturer both automotive and industrial chains under the popular brand name ROLON. The Company operates in four segment namely: Transmission, Metal Forming, Forging & Machining and Other.Itsplants are located at Coimbatore, Mysore, Dindigul, Aurangabad, Karur, Gurgaon, Pune,Pantnagar and Bangalore.Company has a good track-record of sharing wealthwith the investors as demonstrated by the past 5 year dividend distribution track record.Its operating margin is at healthy 10.25% , while its net profit margin is approximately 5%. Sales efficiency is a healthy 2x giving it a good ROCE ofmore than 20%.Auto industry had a very good H2 and the auto industry is expected to grow at a CAGR of 9 to 10% going forward.Company has also done well to contain costs when the top-line declined. Debt equity ratio is also healthy less than 0.75.We are initiating LG Balakrishnan Bros at a 12 month target price of Rs 46 based on 9 X PE FY11 multiple.

Source:Shejal ajmera.

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