Ajcon Global Broker Research reports

Ajcon Global Services Ltd. research reports are also available on Bloomberg [AGSL] Research Analyst (Mentored by CA Ashok Ajmera, CMD)...

Ajcon Global Services Ltd. research reports are also available on Bloomberg [AGSL] Research Analyst (Mentored by CA Ashok Ajmera, CMD)...

The Company's topline in Q4FY16 witnessed an increase of 19.3% to Rs. 668 crore on account of faster execution. On QoQ basis too, it witnessed an impressive topline growth of 58.5%. For the full year the Company registered a topline growth of 13.2% to touch Rs. 1,812 crores as against estimated Rs. 2,162 crores. The Company missed our FY16 estimates by some distance as Unit 2 (660MW, operational since Sept 2015) had to be shut Akash Jain MBA (Financial Markets) ------------------------------- Ajcon Global Services Ltd. research reports are also available on Bloomberg [AGSL]...

Established in 1984, Sangam India Ltd. is the flagship company of Sangam Group a Rs. 4,000 crores + business conglomerate having diverse business interests across textiles, steel, infrastructure, power and energy sectors. Mr. RP Soni, Chairman & First Generation entrepreneur, leads the Group. Sangam ranks among the leading players in Indian textiles sector with presence in PV (polyester viscose), dyed yarn and fabrics. One of market leaders in PV dyed yarn with 25% share.Today, SIL is a leading manufacturer of PV yarn...

The Company's topline declined on qoq basis by 11.% to touch Rs. 356 crores in Q3FY16 due to fall in Commodity prices. However, there was no degrowth witnessed in volumes. On yoy basis too, topline declined marginally by 3.4%. Increased integration focus on exports helped the company in maintaining realisations, despite falling prices. Commodity prices continue to soften globally over the last couple of months and yet we have managed to contain its impact on our revenues. Significantly, the...

Rs. 568.45| Target: Rs. 1,300| Upside: 129%| Market Cap: Rs. 2,018 cr.| FV: Rs. 10 Divestment of road project Execution of share purchase agreement As a part of strategic initiatives of GPL, to divest the road projects, NCC Ltd. and Gayatri Projects Ltd. along with its subsidiary Gayatri Infra Ventures Ltd. (GIVL), have executed a share agreement on January 19, 2016 with Cube Highways and Infrastructure PTE Ltd. (Cube Highways and Infrastructure a unit of global infrastructure manager, I Squared Capital) to sell their entire shareholding in Western UP Tollway Limited (WUPTL). WUPTL is a four lane highway project connecting the Meerut Muzaffarnagar section (from km 52.25...

Rs. 748.25| Target: Rs. 1,300| Upside: 74%| Market Cap: Rs. 2656 cr.| FV: Rs. 10 On 1st December, 2015 (Maturity date), GPL has redeemed the third and final tranche of its debentures, including interest and principal. The value of this tranche amounted to Rs 20.80 crores. Earlier in 2011, GPL had issued 520, 11.50% Secured Redeemable NonConvertible Debentures (NCDs) of Rs.10,00,000/- each on private placement in the form of Separately Transferable Redeemable Principal Parts (STRPPs) for cash at par aggregating Rs 52 crores. The Company has completed the redemption process in line with the designated schedule - redeeming the first tranche of Rs.15.60 crores in December 2013, and the second tranche of Rs.15.60 crores in August 2015 as per the redemption schedule....

Established in 1984, Sangam India Ltd. is the flagship company of Sangam Group a Rs. 4,000 crores + business conglomerate having diverse business interests across textiles, steel, infrastructure, power and energy sectors. Mr. RP Soni, Chairman & First Generation entrepreneur, leads the Group. Sangam ranks among the leading players in Indian textiles sector with presence in PV (polyester viscose), dyed yarn and fabrics. One of market leaders in PV dyed yarn with 25% share.Today, SIL is a leading manufacturer of PV yarn...

Ajcon Global Services Ltd. research reports are also available on Bloomberg [AGSL] Research Analyst (Mentored by CA Ashok Ajmera, CMD)...

Rs.666 | Target: Rs. 1,300| Upside: 95 %| Market Cap: Rs. 2,402 cr.| FV: Rs. 10 CARE downgraded Gayatri Projects Limited 's (GAYP) consolidated debt's (!!) credit rating from B+ to D. News regarding this appeared in ET's online addition on 5th Nov, 2015. The Economic Times has reported following news article: CARE DOWNGRADES RS. 4,300 CRORE LOAN OF GAYATRI PROJECT...

Hyderabad based GPL with over 50 years presence in infrastructure and Construction primarily undertakes Road, Power and Irrigation projects across the Country and owns almost all its equipments, enabling optimal cost control. It also has Joint Ventures (JVs) in Build-Operate-Transfer (BOT) projects and executes construction contracts in partnership with Indian and overseas Companies. The order book of the company is robust and stands at Rs.10,903 crore, which is 6.8x its FY2015 revenues. Since last few months, the...

Salzer Electronics is a leading player offering Total and Customized Electrical Solutions in Switchgears, Wires & cables, Energy Management business. It is the largest manufacturer of CAM Operated Rotary switches, with a market share of 25%. The Company caters to a wide range of products with five in-house manufacturing facilities, located in Coimbatore and Himachal Pradesh. Engineering giant Larsen & Toubro (L&T;) owns 26% in SEL (strategic investment) with two directors on the board. Long term association with L&T; offers...

On the domestic business, increasing thrust by new government on infrastructure and reforms in mining sector will result in higher CV demand where Tata Motors is the market leader. Passenger Vehicle business too will witness significant uptick. With two new models expected to be launched every year till 2020, the company is hopeful of a strong recovery in its passenger car business. While the newgeneration Nano is beginning to find its footing in the market, its bigger siblings, the Zest and Bolt, are challenging the established players. Since its launch last month, the new Nano has attracted...

Ajcon Global Services Ltd. research reports are also available on Bloomberg [AGSL]...

Investor's Delight: Sarla Performance Fibers Ltd. (SPFL) - Visit Note Established in 1995, SPFL is engaged in the business of manufacturing specialized and high margin polyester and nylon yarn. The Company has two manufacturing facilities in Silvassa with a capacity of 11,900 TPA and an in house dyeing plant with a capacity of 3,200 TPA. In addition, SPFL has windmill capacities in Satara (2 MW), Sangli (4 MW) and Vapi (1.25 MW). SPFL is the only Indian...

facility near Salem that manufactures Solar Power Converter, Array Junction Boxes and Solar Module Mounting Structures. SESL also has a 100% owned subsidiary in Singapore for supporting the group's international business. In a very short time SWELECT has gained its strength in the solar energy space with the status as a complete product company and a leading PV project implementer. As an experienced Energy Systems...

Enkei Wheels (India) Limited is a part of the Japanese multinational company, Enkei Corporation (global leader in this segment), located at Shirur village in Pune, Maharashtra. It is a manufacturer of the Aluminum Alloy Wheels to two wheelers as well as four wheelers. Enkei Wheels (India) Limited came into existence by way of Demerger of Alicon Castalloy Ltd (Formerly known as Enkei Castalloy...

Bajaj Hindusthan Ltd. (BHL), a part of the 'Bajaj Group', is sugar and ethanol manufacturing company. The Company has fourteen sugar plants, which are all located in the northern Indian state of Uttar Pradesh (UP) with an aggregate sugarcane crushing capacity of 136,000 tcd (tonnes crushed per day) and a distillery capacity to produce 800,000 litres of alcohol per day. BHL is also one of the largest ethanol producers. It is the pioneer of...