Net Equity Research

BUY  is recommended at CMP with a 2 year HOLD..

Bharati Shipyard began its operations in 1973,at Ratnagiri.Over the years Bharati has expanded its capacity, capability and product range of its vessels exponentially. The Ratnagiri shipyard, started as a small shop has grown several times during the last 38 years, and is today one of the most advanced shipyards of the company. The yard is now building sophisticated vessels required for the offshore industry including offshore vessels( OSV’s), Multipurpose support vessels(MSV’s),Plateform Supply Vessels( PSV’s), Anchor handling cum Tugs cum Supply Vessels ( AHTS’s) etc.The quality, size and the level of sophistication of the vessels built by Bharati has also grown manifold.

In 2010 , Bharati Shipyard took over Great Offshore , prominent integrated offshore oilfield services provider offering a broad spectrum of services to upstream oil and gas producers  to carry out offshore exploration and production (E&P) activities.This gave  forward integration to Bharati Shipyard.The resultant union is expected to make Bharati Shipyard  an all weather company .

During the last year , the combined entity has achieved top line of more than Rs. 2300 crores and PAT of more than 210 crores.This has neen achieved  inspite of the most difficult market conditions.Combined EPS is close to Rs. 30..Revenues and PAT are going to take a quantum jump in the years to come.

Inspite of all the positives for Bharati Shipyard, market cap. of the company is just about Rs. 400 crores at CMP of Rs. 130, which is very very low.Some vested interests are trying to spread rumours ( read here) and sensing the low share price, promoters are buying to the maximum permissible limit.Also the company continues to be on Inorganic Growth path with latest acquitition of Temba,  from ICICI Ventures.This nullifies all the rumours that promoters want to exit .Even if they decide to exit , the price will be in 4 figures and not 3.

Buy is recommended at CMP of Rs. 130 for a 2 year HOLD..

This report has been prepared solely for information purposes and the information contained herein may not be deemed to be an investment advice. Such information is impersonal and not tailored to the investment needs of any specific person. The information contained herein is not a complete analysis of every material fact representing any company, industry or security. The views expressed may change. While the information contained herein has been obtained from sources believed to be reliable, no responsibility (or liability) is accepted for the accuracy of its contents. Investors are advised to satisfy themselves before making any investments and should consult with and rely upon their own advisors whether and how to use such information in making any investment decision. Neither the author nor his firm accepts any liability arising out of use of the above information

Grauer and Weil is one of the very few metal finishing houses the world over, capable of offering an integrated package of chemicals, plants, effluent treatment systems and waste recovery techniques from spent solutions – Truly a ONE-STOP-SHOP for end-to-end solutions.

Started in 1957 as a Plating Co., today its a diversified company with interests in Paints (acquired  Bombay Paints in 2008 ), Special Chemicals,Effluent Traetment Plants,Recovery from Waste spent Chemicals, Lubricants ( in collaboration with SIDASA Spain)and property Development with 750,000 sq.ft of commercial space in the heart of Mumbai.Commercial space known as Growel101 isshopprs delight …

Promoters hold 68% of the Rs. 22 crore equity, and 50 % of the equity has come from Bonus shares.Co.’s Management have decided to split Rs. 10 paid shares to Re. 1 paid up share(see here) , thus increasing the liquidity in the market.

Company has 7 plants located at different parts in India and Shpoppertainment commercial space in the haert of Mumbai..

Valuation of 750,000 sq. ft of commercial space in Mumbai will be no less than Rs. 1500 crores while the market cap. of the company is less than 1/10th or  Rs. 150 crores at CMP of Rs.67 …With Rs. 128 crores of loans the whole company is highly undervalued and the share price can shoot up once the real value of the company is known.

Results for FY11 are good with EPS of 6.7(see  here) and are likely to take a quantum leap once all the 750,000 sq. ft of commercial space is leased out..

Buy is recommended for a  LONG term.

This report has been prepared solely for information purposes and the information contained herein may not be deemed to be an investment advice. Such information is impersonal and not tailored to the investment needs of any specific person. The information contained herein is not a complete analysis of every material fact representing any company, industry or security. The views expressed may change. While the information contained herein has been obtained from sources believed to be reliable, no responsibility (or liability) is accepted for the accuracy of its contents. Investors are advised to satisfy themselves before making any investments and should consult with and rely upon their own advisors whether and how to use such information in making any investment decision. Neither the author nor his firm accepts any liability arising out of use of the above information

Paper Products is a 59% holding subsidiary of world renowned Euro 2.1 billion collapsible packaging wonder hUHATAMAKI ..Company specialises in Flexible packaging,Labelling Technologies,Specialised Cartons,Packaging Machines, Holographic options etc..

In India the average age of the growing population is only 27 years,and its imperative that for this age group  27 +/- 10 years excellwnt packaging of any consumer product is of paramount importance.Companies business is sustainable over the next many  years with 2 digit consumption growth..

With three state of the art, fully integrated manufacturing facilities at Thane, Silvassa and Hyderabad; highly skilled and experienced staff, PPL is capable of working with the customer from product inception to the super market and with complete control and confidentiality.

Today, PP very much  matter to those, for whom packaging matters most. And this is reflected in the impressive client list that includes, Levers, Nestle, Cadbury, Britannia, Glaxo Smithkline, Coca Cola, Perfetti, Dabur, Marico, P&G and many others 

For a ZERO debt Co. with paid up share capital of Rs.12.5 cr ,a decent turn-over of more than 600 crores ( expected  Rs. 750 crs for FY10 ending Dec2010)   see actual here .. Latest Q1 results for  FY11  declared today are excellent,  see HERE .

With EPS  more than Rs. 10 for FY11, the share is going very cheap  @ CMP of Rs. 57.. Expected price 3 digits in a year time..

Buy recommended with one year Hold ..

This report has been prepared solely for information purposes and the information contained herein may not be deemed to be an investment advice. Such information is impersonal and not tailored to the investment needs of any specific person. The information contained herein is not a complete analysis of every material fact representing any company, industry or security. The views expressed may change. While the information contained herein has been obtained from sources believed to be reliable, no responsibility (or liability) is accepted for the accuracy of its contents. Investors are advised to satisfy themselves before making any investments and should consult with and rely upon their own advisors whether and how to use such information in making any investment decision. Neither the author nor his firm accepts any liability arising out of use of the above information

The Company provides software products, IT services and Business Process Outsourcing (BPO) for a variety of industry verticals including Insurance, Banking, Capital Markets, Mutual Funds & Asset Management, Wealth Management, Government, Manufacturing and Retail. These solutions and services include Managed IT Services, Application Software Development & Maintenance, Payment solutions, Business Intelligence, Document Imaging & Digitization, IT Consulting and various Transaction Processing services.

The Company’s quality certifications include ISO 9001:2008 for BPO, ISO/IEC 27001:2005 for Data Centre Operations and ISO/IEC 20000-1:2005 for Data Centre Management Services. The company has embarked on re-appraisal under SEI CMMI ML 5 for some of its software development centers in India. 

The Company’s Global Delivery Model provides for the best resources to be drawn from its vast talent pool across the globe to offer optimal solutions. The Company integrates its products and services to create customized solutions to allow you to undertake technology-based business transformation that allows reorganization in line with today’s dynamic digital business environment

Dividend : 15%

Expected share price FY12 : Rs. 90  , a 100 % return in one year..

Buy recommended at cmp for an year HOLD.

This report has been prepared solely for information purposes and the information contained herein may not be deemed to be an investment advice. Such information is impersonal and not tailored to the investment needs of any specific person. The information contained herein is not a complete analysis of every material fact representing any company, industry or security. The views expressed may change. While the information contained herein has been obtained from sources believed to be reliable, no responsibility (or liability) is accepted for the accuracy of its contents. Investors are advised to satisfy themselves before making any investments and should consult with and rely upon their own advisors whether and how to use such information in making any investment decision. Neither the author nor his firm accepts any liability arising out of use of the above information

Conart Engineers is an ISO 9000 / 9001 certified detailed engg., procurement and construction company with specialisation in Industrial / commercial/residential/roads and bridges.Company has a proven record of successful project completion, with several awards and recognitions.Company was awarded ACCE L&T Endowment Award for excellence in construction.NICMAR-200 has listed the company as one of India’s fastest growing companies in construction division. This will enable the company to maintain existing clientel and secure new ones. Present order position is close to Rs. 30 crores while Company’s market cap. is barely Rs. 6 crores.Order book is likely to touch Rs. 50 crores  in FY11.

On the Financial front, Company is doing pretty well. While the top line has gone up by 50 % during the last 2 quarters, the bottom line is up by more than 100%.

Buy @ CMP of Rs. 20-21  is recommended with one year HOLD..

This report has been prepared solely for information purposes and the information contained herein may not be deemed to be an investment advice. Such information is impersonal and not tailored to the investment needs of any specific person. The information contained herein is not a complete analysis of every material fact representing any company, industry or security. The views expressed may change. While the information contained herein has been obtained from sources believed to be reliable, no responsibility (or liability) is accepted for the accuracy of its contents. Investors are advised to satisfy themselves before making any investments and should consult with and rely upon their own advisors whether and how to use such information in making any investment decision. Neither the author nor his firm accepts any liability arising out of use of the above information

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Nagarjuna Fertilisers & Chemicals Ltd. NFCL is getting reorganised into two strong businesses , Fertilisers ( Kakinada Fertilisers Ltd, KFL ) and Oil Refining ( Nagarjuna Oil Refinery Limited, NORL ). Under the SCHEME of Arrangements and Amalgamation iKisan Ltd ( Micro irrigation and Agri Informatics and Information Technology and agri Education company ), is getting merged into KFL.NORL is getting demerged from NFCL and residual NFCL is getting merged into KFL…If one buys 10 shares of NFCL @ CMP of Rs. 26 , one would be entitled to get 11 shares of KFL, and 10 shares of NORL after the scheme is implemented ( wef 1st April 2011).

Present Market capitalisation of NFCL is Rs. 1150 crores ( CMP of Rs. 26) , while the replacement costs of Fertliser and Oil Refinery at a very conservative basis will be close to Rs. 7000 crores. Equity capital of KFL after amalgamation will be Rs. 59.8 crores with same number of Re. 1 paid shares. Equity capital of NORL will be Rs. 42.8 crores with same number of Re. 1 paid shares. Its estimated that the fair value of KFL and NORL shares should be atleast Rs. 25 each , thus doubling the investment in less than a year.

Buy is recommended with one year HOLD ..

This report has been prepared solely for information purposes and the information contained herein may not be deemed to be an investment advice. Such information is impersonal and not tailored to the investment needs of any specific person. The information contained herein is not a complete analysis of every material fact representing any company, industry or security. The views expressed may change. While the information contained herein has been obtained from sources believed to be reliable, no responsibility (or liability) is accepted for the accuracy of its contents. Investors are advised to satisfy themselves before making any investments and should consult with and rely upon their own advisors whether and how to use such information in making any investment decision. Neither the author nor his firm accepts any liability arising out of use of the above information

AVON CORP  was listed on the Bombay Stock Exchange on 3rd July 2008 and it’s currently managed by Mr. Pankaj Saraiya, Managing Director & CEO. The core line business of Avon is to manufacture wide range of personal & industrial weighing scales,and also deals in high end products such as Body Composition Analyzers & Blood Pressure Monitors..In the basket of products are Precision and Analytical Balances for precise and reliable readings in laboratories, industrial balances, Test weights with DKD Calibration. During the first fiscal year, Avon reached a turnover of ` 26 Lakh (Year 1995-96) and within the period of Fifteen years Avon reached INR 116 Crores (Year 2009-10). The Company has got global recognition as it has also been dealing in products like KERN a German made machine and JAWON from South Korea.

Avon as a Company is ISO 9001: 2008 certified and its entire products are certified by Weights & Measure Department.

The Company has its principle manufacturing unit at Baddi, Himachal Pradesh. Avon’s clientele covers major pharma & chemical corporates, R&D centers, jewellery industries, government sectors and retail segments. It also provides consulting services to various industrial houses, on the latest weighing Systems and Applications.

Avon has managed to get an immense response as its product are very elite and are catering to  the masses.

On financial front Co’s top line and bottom line has seen a quantum jump during the last 6 months of  FY2011  see here ..If the latest trend is continued ,company should double its top line and report an EPS of Rs. 4 , thus giving a discounting (P/E) of only 2 to its CMP!!! Wow !! who would like to miss it? so grab it now..

This report has been prepared solely for information purposes and the information contained herein may not be deemed to be an investment advice. Such information is impersonal and not tailored to the investment needs of any specific person. The information contained herein is not a complete analysis of every material fact representing any company, industry or security. The views expressed may change. While the information contained herein has been obtained from sources believed to be reliable, no responsibility (or liability) is accepted for the accuracy of its contents. Investors are advised to satisfy themselves before making any investments and should consult with and rely upon their own advisors whether and how to use such information in making any investment decision. Neither the author nor his firm accepts any liability arising out of use of the above information 

Gulf Oil Corp. The Company is part of the international Hinduja Group and has diversified business interests. The current business activities of the 50 year young Company are in 1) Lubricants, 2)Industrial Explosives,3) Mining & Infrastructure Services, and 4)Property Development. The Company operates through 4 major divisions with independent management structures.

On 4th Oct 2010 the company has announced that it has demerged its Industrial Explosives Division and the Latest AR talks about the Property Development :