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Innovative Brokerages - Simplex Casting
Tuesday, May 22, 2007
Simplex Castings Ltd
Engineered for High Growth
Buy - Price: Rs. 65
Investment Highlights
- Constituent of 67 years old Simplex Group
- Leading manufacturer of engineering castings
- Buoyant user industries – Steel, Power, Railways, Mining, Material Handling, Pumps & Valves, Cement, Sugar, Petroleum, Defence, etc
- Entry into high value, high margin project business
- Sales and Net Profit set for high growth
- Will receive project work of Rs. 180 crores in case Simplex Group wins an order of Rs. 600 crores from a leading fully integrated steel manufacturer, where it is favourably placed (NOT accounted in the earnings estimates given below)
- Attractive valuations:
- P/E: 6.8 X FY07 earnings
- P/E: 3.8 X FY08 earnings
- P/E: 2.7 X FY09 earnings
Innovative Brokerages - Simplex Casting
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IMPORTANT DISCLAIMER
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 we consider reliable. I, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and I 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 given in this blog.
