Scripscan:Tyche Industries Ltd
cmp:19
Code:532384
Business :Contract Research / Manufacturing of API`s, Intermediates,Nutraceuticals, and Fine & Specialty Chemicals.
Company has :
1)5 manufacturing units across 2 sites in A.P – Kakinada & Tanuku
2)Kakinada facilty in the process of obtaining USFDA approval
3)Setting up new project, also in East Godavari., A.P.
4)Got ISO 9001:2000 certification
Positives :
1)Zero Debt Company
2)Paying dividend since last 4 years
3)Showing steadily increasing trend in Sales / profits
Also :A company Tyche Chem has been shown as taking 14.88 % stake in Dec 08 qtr (name was not present in June 08 quarter). The name suggests that they are associated with Tyche Industries, though not listed as a promoter entity.
Negatives:Company was originally in the Software business (as Siris Soft Ltd) but shifted to current business in 2003-04. [ Note : The company is not listed as a part of the Siris Group of companies whose flagship company Siris Ltd is under BIFR.However the promoters are related - i beleive the Tyche promoter is the son of the Siris promoter.]Like with most small companies, there appears to be no propercompliance set-up , else the .acquisition of 14.88 % stake by Tyche Chem should have been formally intimated to the stock exchanges when the 5% & 10% stake was triggered.Annual Reports of the company do not give sufficient details regarding the future plans of the company, nor the SWOT analysisPresence of an unlisted group company,i am assuming Tyche Chemicals is a group entity - in a similar line of business raises issues of what i would term "moral hazards"
Conclusion :The company looks worthy of a closer look purely due to it`s dividend
paying track record & zero-debt status. However, as with most small- caps, enough information is not freely available & so investors are advised to do their own strict due diligence.
Source:Zeenut
Sunday, January 3, 2010
Important Disclaimer&Privacy policy
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.
