Hitachi Home appliances ltd
Hitachi Home appliances ltd: CMP: 70Target Price:110, Return Expected after brokerage(Buy/Sell) 30%
Buy at price: Immediate
Hitachi Home appliances ltd was incorporated in year 1984 in the name of Acquest Air Conditioning Systems Pvt Ltd. It was converted into a public limited, on 30th June, 1989. Name was changed to Amtrex Appliances on 14th September, 1990. Its manufacturing facilities are situated at Kadi, a notified backward area in North Gujarat for manufacture of air conditioners. Air conditioners consisting of window, split and multi split are marketed under the brand name `Amtrex'. 1999 - The Company introduced 3 new models of Room Air-conditioners, which received encouraging response.
- The Company's manufacturing facilities, became the seventh base worldwide for production of Hitachi brand Air-conditioners. - The Company has launched 4 new models under the "Hitachi" brand, which have been well received by the market. - With effect from 1st April, Mr. Yuuhiko Yabe has been appointed as the Joint Managing Director. 2000 - The Company joint venture between Hitachi Ltd, Japan, and the Ahmedabad-based Lalbahi group, has posted an impressive 33 per cent growth in revenue. The Company is engaged in machining, fabrication activities and specialising in manufacture of Air Cooled Heat Exchangers and Finned Tubes. The Company has a technical tie up with M/s Birwelco, U.K. for design and performance guarantee of the products to be manufactured by GEI, as per the specific requirements of the clients and had secured orders from E.I.L., TOYO Engineering Ltd., UHDE KTI and Mangalore Refineries and Petroleums Ltd., Davy Power Gas, Chemtex. It is promoted by Shri. C.E. Fernandes, and Shri. P.L. Mundhra. The company has an existing manufacturing capacity of 500 mt of Heat Exchangers and 30,000 mtrs of Finned Tubes. The Company proposes to expand its capacity to manufacture Heat Exchangers to 1200 mt and Finned Tubes to 60,000 Mtrs. in Phase I and in the Phase II the capacity will be increased to 3000 mt and 1,50,000 mtrs respectively. The first phase is already completed and has started commercial production w.e.f 1st October, 1994. The implementation of Phase - II is under progress and the Company has already started the civil work
Key Products: Electronic Home Appliances.
Key Financial Highlights: Year-on Year basis- Mar’09 Audited
Sales Gwth:5%
PER SHARE RATIOS
Adjusted E P S (Rs.) 14.74
Reported EPS (Rs.) 9.18
Dividend Per Share 0
Operating Profit Per Share (Rs.) 20.32
Book Value (Incl Rev Res) Per Share (Rs.) 10.19
Net Operating Income Per Share (Rs.) 206.34
PROFITABILITY RATIOS
Operating Margin (%) 9.84
Gross Profit Margin (%) 8.16
Net Profit Margin (%) 4.41
Adjusted Return On Net Worth (%) 32.38
Reported Return On Net Worth (%) 20.16
Return On long Term Funds (%) 40.34
LEVERAGE RATIOS
Long Term Debt / Equity 0
Total Debt/Equity 0.48
Owners fund as % of total Source 67.41
Fixed Assets Turnover Ratio 4.56
Qtr-Qtr Basis: June’09 compared to Jun’08 (Unaudited)
Sales gwth: 8%, (22541 ctr Qtr , prev year 20692)
Operating margin: 7% (point of concern) (1762 ctr Qtr , prev year 2039)
Net profit margin: 7% (1866 ctr Qtr , prev year 1584)
Market Cap:
Face Value: 10,
Group B,
Industry type: Consumer Goods.
I will suggest one to buy & hold for 1year.
With board of Directors comprising of various religion & segment, less deviations in Audited versus unaudited Balance sheet it’s sound investment for medium to long term view.
Refer to company website for more information.
I do hold this scrip with my purchase price being at various stage being 64
Buy at price: Immediate
Hitachi Home appliances ltd was incorporated in year 1984 in the name of Acquest Air Conditioning Systems Pvt Ltd. It was converted into a public limited, on 30th June, 1989. Name was changed to Amtrex Appliances on 14th September, 1990. Its manufacturing facilities are situated at Kadi, a notified backward area in North Gujarat for manufacture of air conditioners. Air conditioners consisting of window, split and multi split are marketed under the brand name `Amtrex'. 1999 - The Company introduced 3 new models of Room Air-conditioners, which received encouraging response.
- The Company's manufacturing facilities, became the seventh base worldwide for production of Hitachi brand Air-conditioners. - The Company has launched 4 new models under the "Hitachi" brand, which have been well received by the market. - With effect from 1st April, Mr. Yuuhiko Yabe has been appointed as the Joint Managing Director. 2000 - The Company joint venture between Hitachi Ltd, Japan, and the Ahmedabad-based Lalbahi group, has posted an impressive 33 per cent growth in revenue. The Company is engaged in machining, fabrication activities and specialising in manufacture of Air Cooled Heat Exchangers and Finned Tubes. The Company has a technical tie up with M/s Birwelco, U.K. for design and performance guarantee of the products to be manufactured by GEI, as per the specific requirements of the clients and had secured orders from E.I.L., TOYO Engineering Ltd., UHDE KTI and Mangalore Refineries and Petroleums Ltd., Davy Power Gas, Chemtex. It is promoted by Shri. C.E. Fernandes, and Shri. P.L. Mundhra. The company has an existing manufacturing capacity of 500 mt of Heat Exchangers and 30,000 mtrs of Finned Tubes. The Company proposes to expand its capacity to manufacture Heat Exchangers to 1200 mt and Finned Tubes to 60,000 Mtrs. in Phase I and in the Phase II the capacity will be increased to 3000 mt and 1,50,000 mtrs respectively. The first phase is already completed and has started commercial production w.e.f 1st October, 1994. The implementation of Phase - II is under progress and the Company has already started the civil work
Key Products: Electronic Home Appliances.
Key Financial Highlights: Year-on Year basis- Mar’09 Audited
Sales Gwth:5%
PER SHARE RATIOS
Adjusted E P S (Rs.) 14.74
Reported EPS (Rs.) 9.18
Dividend Per Share 0
Operating Profit Per Share (Rs.) 20.32
Book Value (Incl Rev Res) Per Share (Rs.) 10.19
Net Operating Income Per Share (Rs.) 206.34
PROFITABILITY RATIOS
Operating Margin (%) 9.84
Gross Profit Margin (%) 8.16
Net Profit Margin (%) 4.41
Adjusted Return On Net Worth (%) 32.38
Reported Return On Net Worth (%) 20.16
Return On long Term Funds (%) 40.34
LEVERAGE RATIOS
Long Term Debt / Equity 0
Total Debt/Equity 0.48
Owners fund as % of total Source 67.41
Fixed Assets Turnover Ratio 4.56
Qtr-Qtr Basis: June’09 compared to Jun’08 (Unaudited)
Sales gwth: 8%, (22541 ctr Qtr , prev year 20692)
Operating margin: 7% (point of concern) (1762 ctr Qtr , prev year 2039)
Net profit margin: 7% (1866 ctr Qtr , prev year 1584)
Market Cap:
Face Value: 10,
Group B,
Industry type: Consumer Goods.
I will suggest one to buy & hold for 1year.
With board of Directors comprising of various religion & segment, less deviations in Audited versus unaudited Balance sheet it’s sound investment for medium to long term view.
Refer to company website for more information.
I do hold this scrip with my purchase price being at various stage being 64
Can this be considered for investment at CMP of 135? What should be good level to enter this stock?
ReplyDeleteWhen you want to buy appliances, here are several things you need to consider. The most important thing is that you prepare well before you go shopping. Be sure to visit the number of outlets only to compare the different prices and see the quality of some of the equipment you are looking for, it feels good, if you are able to purchase some of these things is half the price he intended to spend.
ReplyDelete