Scripscan:Sundaram Multi Pap Ltd
cmp:48
Code:533166
Story:Sundaram Multi Pap Ltd. designs, manufactures, and markets paper stationery products in India and internationally. The company offers exercise note books, long books, note pads, scrap books, drawing books, graph books, college books, and letter pads, as well as printing, writing, and packaging paper for students and office/corporate clients. It markets its books under the Sundaram, Friendly, Winner, Mr. Big, Crazy World, Original T. K. Cartridge, Future, and Mr. Green names. The company also engages in developing educational content for upper primary and secondary education, including educational content for 8th, 9th, and 10th standards of Maharashtra S.S.C Board for various subjects in Marathi and English languages under the e-Class name for marketing to schools, coaching classes, tutors, and individual students.A notebook and stationery player but what makes the stock interesting to me is that its got a product which is called E-Class. This product is used by students in Maharashtra for 8-9-10th standards and it's a very interesting product because while we are talking of education space and its not trying to compete with an Educomp or Everon, so it's a very interesting product with very good marketing and in a very interesting point in terms of price.Sundaram Multi Pap recently through its wholly owned subsidiary E-class Education System has signed MOU with AICPTR (All India Council for Professional Training and research) for distribution of e-class system across Maharashtra State through more than 900 computer centers to reach district, tehsil and village level marketing.Sundaram Multi Pap's net profit surged 116.7% to Rs 0.52 crore on 10.2% fall in net sales to Rs 25.80 crore in Q3 December 2011 over Q3 December 2010.There are lot of people who are betting big on this counter.The board has recently approved a liberal bonus issue of 2 for 1 shares held which though provides confidence but definitely will make the equity look ugly.To me it wasn't necessary at all.A wait and watch candidate for me.
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