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kulman
Senior Member
Joined: 02/Sep/2006
Location: India
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Posts: 9319
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   Posted: 13/Dec/2007 at 11:16am |
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Life can only be understood backwards—but it must be lived forwards
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kulman
Senior Member
Joined: 02/Sep/2006
Location: India
Online Status: Offline
Posts: 9319
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Posted: 19/Dec/2007 at 9:35am |
PSL Ltd has been awarded with yet another prestigious
Contract for Supply of Coated Line Pipes and Long Radius Bends worth Rs 125 Crores for 200 Kms. long Dullajan Numaligarh Pipeline in Assam.
The Company shall supply 16 inch Diameter Bare/Coated Pipes entirety from its state-of-the-art Two-Step Mill in Varsana, Kandla, Gujarat by Mid 2008.
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Life can only be understood backwards—but it must be lived forwards
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kulman
Senior Member
Joined: 02/Sep/2006
Location: India
Online Status: Offline
Posts: 9319
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Posted: 03/Jan/2008 at 5:41pm |
Jindal Saw Ltd has received various orders aggregating to approx US$ 250 Million for supply of Spiral pipes / Longitudinal Submerged Arc Welded (LSAW) Pipes and Seamless pipes.
With these orders, the Company's present order book exceeds US$ 850 million.
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Life can only be understood backwards—but it must be lived forwards
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kulman
Senior Member
Joined: 02/Sep/2006
Location: India
Online Status: Offline
Posts: 9319
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Posted: 16/May/2008 at 8:14pm |
export-oriented finished steel goods worth Rs 500 crore is held up in
the country, either at the ports or at the factories, thereby incurring
loss in terms of value and also goodwill in the export market.
The pipe manufacturing industry in the country is said to be worst hit
by the export duty. K G Mantri, chief financial officer, Man Industries
Ltd, said: “The export duty will eventually turn out to be a death
knell for the industry as 70% of the total production of pipes in the
country is exported.”
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It's uncertainty or is it big risk?
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Life can only be understood backwards—but it must be lived forwards
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kulman
Senior Member
Joined: 02/Sep/2006
Location: India
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Posts: 9319
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Posted: 23/Jun/2008 at 2:50pm |
Total world demand for pipes is estimated at $74 billion (235,171 km)
for next five years (2007-2011). On the other hand, domestic demand for
pipes is approximately $5.5 billion. Indian pipe makers, due to their
locational advantage carry the potential to cater to the entire
domestic demand.
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Life can only be understood backwards—but it must be lived forwards
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deepinsight
Senior Member
Joined: 18/Sep/2006
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Posts: 980
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Posted: 23/Jun/2008 at 3:07pm |
Kulman:
What's the charachteristic of the business model.
1. Are they very exposed to debt financing? (debt will become more expensive - intrest costs)
2. Are they exposed to raw material going up? (without being able to pass this on to their customers - lower margins)
Some smaller names seem to be well financed (strong balance sheets) and managed in the sector. Do you think the big guys or the smaller more prudent players are likely to win?
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"Investing is simple, but not easy." - Warren Buffet
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kulman
Senior Member
Joined: 02/Sep/2006
Location: India
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Posts: 9319
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Posted: 23/Jun/2008 at 3:25pm |
Yes debt levels are quite high. So you are right till the interest rate cycle is played out they would face additional pressure on bottom line.
Depending on the terms of contract in some cases they are able to pass on raw material rise.
Iintegrated players like Welspun Gujarat would have higher value addition as compared to competitors. In their case however exports contribute a huge portion of their earnings.
And then Maharashtra Seamless is being tracked by some TEDies.
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catcall
Senior Member
Joined: 02/Sep/2006
Location: India
Online Status: Offline
Posts: 1076
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Posted: 23/Jun/2008 at 10:22pm |
while valuations have fallen in all sectors , across the board, some of the companies in this sector are now reaching very attractive valuations . without trying to hazard a guess on when the macro situation will improve, I would not be a bad idea to relocate your funds into some of these stocks......
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There are two times in a man's life when he should not speculate-when he can't afford it and when he can-Happy investing!
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