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NSEJan 15, 2021 03:31 PM
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|Summary||Date||Stock||Broker||Price at Reco.||Target||Price at reco|
Change since reco(%)
|2018-09-14||Kirloskar Ferrous In.. +||Centrum Broking||99.80||140.00||99.80 (39.78%)||Buy|
KLD mine loss a blessing in disguise; maintain Buy Kirloskar Ferrous (KFIL) lost M/s Kanhaiyalal Duhderia (KLD mine) in the re-auction to MSPL which won the mine at 111% offer price. Earlier KFIL had won the mine at 110% offer price but the auction was revoked and mine was put for re-auction by the auction authorities due to some technical issues in bidding. KFIL was not expected to realise any material savings due to the high offer price paid by it in the auctions and we had infact estimated negative contribution in our calculations (refer our 10 Sep note Issues of ore, no more). We see the losing of KLD mine as a...
|2018-09-10||Kirloskar Ferrous In.. +||Centrum Broking||98.40||140.00||98.40 (41.77%)||Buy|
Kirloskar Ferrous (KFIL) won two key iron ore mining assets in the Karnataka auctions which is a long term positive event for the company given the 100% captive integration for pig iron business with good quality ore, close proximity of mines to KFIL plant, cost savings v/s open market purchase and improved efficiency due to better value in use. We remain positive on KFIL's prospects as it features i) increasing share of high-margin casting business which has spare capacity, ii) cost efficiencies from upcoming low-payback projects albeit slightly delayed, iii) an enviable track record of converting cash profits to cash flows...
|2018-07-30||Kirloskar Ferrous In.. +||Centrum Broking||81.45||140.00||81.45 (71.27%)||Buy|
Kirloskar Ferrous (KFIL) delivered another subdued performance in Q1 due to continued pressure in gross margins and increased other expenses (due to nonrecurring items) negating strong volume growth. We remain positive on KFIL's prospects as it features i) increasing share of high-margin casting business which has spare capacity, ii) cost efficiencies from upcoming low-payback projects albeit slightly delayed, iii) an enviable track record of converting cash profits to cash flows (5Y/10Y AOCF/CP ratio of 1x/0.9x) and iv) strong balance sheet with low D/E of 0.1x. We expect strong earnings growth during FY18-20E driven by castings volume CAGR of 20%. Valuations remain undemanding with attractive cash flow yield of 14.5% &...
|2016-09-07||Kirloskar Ferrous In.. +||Ashika Research||84.60||113.00||84.60 (64.89%)||Buy|
Kirloskar Ferrous Industries (KFIL) incorporated in 1991 is engaged in business of manufacturing pig iron and ferrous casting used in automobile and tractor industries. KFIL was promoted by Kirloskar Oil Engines Limited (KOEL) and Shivaji Works Limited (SWL) and in 2007, SWL was acquired by KOEL. Company caters to the requirement of high quality pig iron, Intricate thin walled grey iron castings to the Tractor, Auto, Engine and other related segments. Company has two...