Originally posted by sajanvm Janak   500 Cr is the projection made by mgmt after IPO. I have assumed that they can do 50% of projection ie 250 Cr.   Please see their last 2 qtr results: OPM in 18% in Sep qtr and 21% on Dec qtr.   If they can do 250 Cr at 18%, it will mean 40 Cr op profits . Current EV is 75 Cr If they can do 250 Cr at 12%, it will mean 30 Cr op profits. Still cheap.   Thats why it seemed  a bargain to me.   Risks are: Customer concentration - which can lead to customer having high bargaining power RM price risks unless majority of sales are on cost plus basis (i understand that their 2 main customers have a cost plus agreement with them) Delays in capacity expansion Capacities coming up in China Supply demand dynamics being altered in case of global slowdown.   I would welcome your thoughts as well.

Someone somewhere asked Hit bhai about this Company. So,
Q2/Fy-12 Results out...

Total Income up 26.3% to 55.47 Cr from 43.91 Cr.
EBIDTA up 56.5% to 10.55 Cr from 6.74 Cr.
Net Profit up 30.3% to 5.6 Cr from 4.3 Cr.

EBIDTA margin is 19% V/s 20% (JQ-11) and 15.4% (SQ-10)
NET Pr margin is 10.1% V/s 11.1% (JQ-11) and 9.8% (SQ-10)

Total Raw material costs as a %ge to Income is 54.8% V/s 56.9% (JQ-11) and 59.6% (SQ-10)
Employee costs to Income is stable around 2.5% of Income.
Power & Fuel expenses to Income is 12.1% V/s 9.2% (JQ-11) and 9.6% (SQ-10)
Other expenses to Income is 11.5% V/s 11.3% (JQ-11) and 13.2% (SQ-10)

Interest expense to EBIT is 13.6% V/s 13.4% (JQ-11) and 13.1% (SQ-10)

H1/Fy-12 v/s H1/Fy-11:
Total Income up 25.4% to 111.1 Cr from 88.62 Cr.
EBIDTA up 61% to 21.66 Cr from 13.45 Cr.
Net Pr up 38.7% to 11.76 Cr from 8.47 Cr.

Tax Rate 28.62% V/s 11.9%
Interest costs to some extent and sudden jump in Tax incidence affected net profits.

Reported Half-Year EPS 9.58 V/s 6.9
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