Scripscan:Texmo Pipes & Products Ltd
cmp:22
Code:533164
Story:Texmo Pipes and Products Limited engages in the manufacture and sale of polyvinyl chloride (PVC) and high density polyethylene (HDPE) pipes in India and internationally. The company’s products include suction and delivery hose pipes, rigid PVC pipes, elastomeric sealing ringfit PVC pipes, PVC casing and ribbed screen casing pipes, SWR pipes, plumbing pipes, conduit pipes, caping casing strips, column pipes, HDPE plain pipes, sprinkler pipes, PLB HDPE cable ducts, and drip irrigation systems. Its products are used in irrigation, agriculture, potable water supply schemes, sewerage and drainage systems, construction industry, telecom industry, and bore/tube well for underground water suction, as well as transport of chemicals and gases in industries. The company exports its products to the Middle East, Iran, Iraq, and Europe. The company was formerly known as Shree Mohit Industries and changed its name to Texmo Pipes and Products Limited in July 2008.The plastic pipes industry is currently going through a boom with growing irrigation projects and increasing usage in telecom, construction and oil & gas transportation industries.Texmo Pipes and Products (TPPL) has developed 'Texmo' brand in the market due to its highest quality products through process excellence by promoting efficiencies and productivity. The wide range of polymer pipes manufactured by it meet the requirements of various applications in the country in the present age of plastic culture. Due to use of such polymer pipe, which is an edge over the use of metal pipes i.e. PVC pipes lead to minimize the cost factor by way of overall use, such as installation, transportation, no risk of health hazard etc. The demand therefore, is on the increase.TPPL is likely to post an EPS of rs 10 in FY13.At the CMP of Rs 22, the share is trading at a P/E of just 2.2 times its expected 1 year forward earnings.A good hold at present levels and a good buy at dips.
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