The immediate trigger for Texmaco is the proposed de-merger of present Texmaco in to - Texmaco Rail and Engg Co. (which will include all mfg operations like -Heavy engg, Infra and steel foundry divisions.), while post de-merged existing Texmaco will be holding investments & real estate. The share holders will get shares in the ratio of 1:1 for new co. The de-merger is now awaiting HC approval, which may take 3-6 months. Now as per the latest update the High Court at Calcutta , sanctioned a scheme of arrangement for restructuring Texmaco. In a release, the company said the High Court has approved the scheme early this month. The scheme entailed demerging of Texmaco's heavy engineering and steel foundry divisions to its wholly owned subsidiary company, Texmaco Rail & Engineering Ltd (Texrail), formerly Texmaco Machines Ltd, and retaining the other businesses such as real estate, mini hydel power plant in the company. As a result of the court's approval, the scheme will become operational with retrospective effect from April 1 this year once the certified copy of the order is filed with the Registrar of Companies. The boards of Texmaco and Texrail, meanwhile, were reconstituted last week. The formalities for the listing of Texrail on the BSE, NSE and CSE would be taken up thereafter, the release said. Texmaco shareholders are to get shares of Texrail in the ratio of 1:1 on the basis of their shareholding as on a record date to be announced after the scheme comes into effect.
Safe Harbor Statement:
Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.
Nothing in this article is, or should be construed as, investment advice.
--- On Thu, 9/30/10, rajes G <rajes555@yahoo.com> wrote:
From: rajes G <rajes555@yahoo.com>
Subject: Fw: Re: [T.S.R:15750] Supreme Industries
To: rajivhanda@yahoo.com
Date: Thursday, September 30, 2010, 10:08 AM
--- On Thu, 30/9/10, rajes G <rajes555@yahoo.com> wrote:
From: rajes G <rajes555@yahoo.com>
Subject: Re: [T.S.R:15750] Supreme Industries
To: rhapositive@gmail.com
Date: Thursday, 30 September, 2010, 10:04 AM
| Dear Rajiv Handa, I am a regular reader of your mails since last 6 months, and your mains are very informative. Your analysis of Stocks are one of the best and i can tell the same because i have gained some money in stock market thru your buy tips. One of the company that i would like to mention is POLYPLEX and have gained a lot and I still hold 80 shares of POLYPLEX and today i purchased 30 shares of Supreme Inds. Thanks a lot for making me rich and wish you all the best, I also request you to add me in your mailing list and my office email is rajeshgohel@indianoil.co.in. At times, by the time i read your mails, the prices of the stocks recommended by you jumps high. Thanks again Rajesh.
--- On Wed, 29/9/10, Rajiv Handa <rhapositive@gmail.com> wrote:
From: Rajiv Handa <>
Subject: [T.S.R:15750] Supreme Industries
To: "kukku picks" <kukkuster@gmail.com>
Date: Wednesday, 29 September, 2010, 1:41 PM
| CMP 690/- · Company is one of the largest plastic processor in India , processing about 1,92,000 MTs of polymers annually. It has comprehensive plastic product portfolio including - Plastic/PVC piping & Fittings [43.59%], Packaging Products [24.11%], Industrial Products [20.48%] and Consumer Products [11.83%]. · With moderation in the input prices and better the consumption of all kind of Pipes, fittings, Crates, micro irrigation and irrigation products will go up. Further as rural purchasing power will go up, demand for Plastic furniture and other household item will go up. · Newer and newer usages are found for various products by strong R&D of the company, which is continuously developing and innovating products used across segments like - Pipes for potable water/ drainage/ sewerage/ irrigation, Protective packaging, Material handling, molded furniture, Auto & Appliances components, Industrial products, Packaging films and designer products etc. · Company is spending Rs 275 Crs in capex in current year to expand capacities across product range as well as setting up facilities to manufacture LPG Composite Cylinders, which are light weight and explosion proof. Project will go on stream in Oct.'11. · Apart from strong cash flows from core business, the big cash flow & profits are expected from recently completed commercial property in Mumbai; which may lead to exceptionally great cash flows for company in current year. · Even without property gains, company can report EPS of Rs 90 and with these gains [if property is sold out in current FY] additional cash flows could be over Rs 300 Crs. Even excluding property gains, stock is available at attractive P/E of just 7.5X for FY'11.
Looking to almost zero debt status, high ROACE [40%], ROANW [43%], liberal payouts and attractive growth trajectory, the stock should get discounting of at least 12X for FY'11 Est. earnings. So we expect a target price of Rs 1080 cum split and Rs 216/- post split. [As company has announced a Split from Rs 10/- to Rs 2/- FV and record date is due in mid Oct.'10.] BUY
Safe Harbor Statement:
Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.
Nothing in this article is, or should be construed as, investment advice.
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