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Monday, March 21, 2011

Shree Rajasthan Syntex Ltd:-Buy/sell/hold,growth prospects and recomendation,news and results,target price and analysis,views and outlook

Scripscan:Shree Rajasthan Syntex Ltd

Story:Shree Rajasthan Syntex Limited engages in the manufacture and marketing of textile products in India. Its products include man made fiber spun yarn, polypropylene multi filament yarn, cotton yarn, synthetic blended yarn, and dyed and grey yarns. The company’s products for weaving and knitting comprise polyester-viscose blends, viscose, polyester, acrylic, machine slub qualities, polyester-acrylic blends, melange yarns, color grindles, and roving grindles. Its products are used in industrial and home textile applications. The company also exports its products to Jordan, Turkey, Egypt, Italy, KSA, Morracco, South Africa, Iran, Pakistan, Guatemala, Algeria, Brazil, Beirut, Ukraine, Peru, Lebanon, Portugal, Mauritius, and Belgium.The Company has:85,000 Spindles,10 MW Power Plant,3000 TPA of Polypropelene Yarn.Current market cap is just 22 Crors whereas setting up 10MWpower plant alone will cost more than 55cr.Company got coal linkage with Coal India from Dec 2010 which will lead to saving of approx Rs 10 lac per month.In 2010-11, company is like to acheive:Sales of more than 300 Cr,Cash Profit of 19 Cr and PAT of more than 8 Crs.Early last year, 2/30 Dyed yarn prices were Rs 155 per kg which previous shot upto Rs 200-203 per kg. Raw material prices(PSF, VSF) have gone up but not so much and YARN MFRs PROFIT MARGINS HAVE EXPANDED.In such a scenario (when scrips/competitors like Sutlej, RSWM,Banswara etc r quoting very high valuations), Shree Rajasthan Syntex appear highly underpriced.If textile stocks hogs the limelight which is more than a chance,expect shree rajasthan sysntex to rock bigtime in the bourses.

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