The company has really turned around in the last 3-4 years i think. They are now essentially about machine tools and end to end machine services. Perhaps they are the best Indian bet to play the heavy machine tools segment....
In the machining services they have ramped up their capability 400% last fiscal year. Right now they have also derisked their model and have won customers in Wind energy, power and defence....BEML, Cummins etc. So their operating revenues grew 15% (i think) despite a 60% slump in sales to automobile companies. The end to end service business is also growing quickly....
While they have a fledging automobile business...that business has not taken off yet...Management has promised not to throw a lot of money into this. Management thinks that business will take off when credit becomes available.
The younger Doshi (older Doshi died last year) really wants to make a difference.
The reason why i personally find this stock very interesting is that the promoters are buying a lot of this stock thought it's at 24+ PE. This plus the fact that management says that revenues from the large contracts have not started coming in.....
Edited by subu76 - 08/Sep/2009 at 5:32pm
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ha ha ha!
