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|Summary||Date||Stock||Broker||Price at Reco.||Target||Price at reco|
Change since reco(%)
|2019-01-02||Singer India Ltd. +||ICICI Securities Limited||39.90||39.90 (56.52%)||Not Rated|
ICICI Securities Limited
We met the management of Singer India (SIL) to get an insight into its business and future plans. Established in 1977, SIL is India's second largest household sewing machines manufacturer/marketer with an organised market share of ~42%. After getting discharged from BIFR, SIL has strengthened its core business and increasingly focused on diversifying into consumer durables (mainly home appliances). Diversification into the appliances category is to leverage old brand Singer and slow growth of the sewing machine industry. The sewing...
|2016-12-05||Singer India Ltd. +||ICICI Securities Limited||204.25||204.25 (-69.42%)||Pre-Bonus/|
ICICI Securities Limited
We met the management of Singer India (SIL) to get an insight into its business and future plans. Established in 1977, SIL (a 75% subsidiary of Singer India BV Netherlands), is India's second largest sewing machine manufacturer with an organised market share of ~40%. SIL was referred to BIFR in 2005 and discharged from BIFR in February 2013. Post restructuring, SIL focused on increasing its sales from sewing machines and simultaneously entered into consumer durables (mainly small appliances). Diversification into the appliances category is to leverage the...
|2012-09-07||Singer India Ltd. +||Ajcon Global||73.70||141.00||73.70 (-15.26%)||Target met||Buy|
Since 1851, the name Singer has been synonymous with sewing. The spirit of practical design and creative innovation that characterized the Company at its beginning continues today as the companies develop products for every level of sewing. The Company has celebrated many firsts, including the world's first Zig-Zag machine the Fashion Maker. The Company has been on a restructuring spree. SIL has turnaround smartly and has wiped off its losses worth Rs. 6.46 crores as on 30th June 2011. With the successful implementation of the restructuring scheme, the Company's Reserves and Surplus have turned positive at Rs. 3.76 crores as on 30th June, 2012. The Company reported a net profit...