Madras Aluminium. 

-Few Investors are aware that for every Malco share there are 1.14 shares of Sterlite held as Investments.

-First half results of Malco are out, and Revenues were Rs 235 crore and PAT Rs 65.4 crore.

-This is against Malco's FY07 Revenues of Rs 469 crore and PAT of Rs 135 crore.

-Malco's First Half 08, non annualised EPS works out to Rs 29.07 for Malco.

-80 per cent of Malco Equity is with Twinstar Holdings, the holding company of Mr. Anil Agarwal.

-3.11 per cent with TamilNadu Indl Investment Corpn.

-5.64 per cent with Lotus Global Investments

-5.33 per cent with Gulab Holdings.

- A small float  rests with the public.

Some more interesting facts 

-Malco's Outstanding number of shares are  22,500,000

-Malco owns 25,613,400 shares of Sterlite, so if you buy 1 share of Malco you get 1.14 share of Sterlite.

-Sterlite is valued at Rs 955.60 and Malco is valued at Rs 855.50.  

-Even if you assume Malco has zero value, then value of Sterlite holing in Malco is Rs 1060.

-So Malco should be worth at least Rs 1112. 

 Malco is profitable with quarterly EPS of Rs 15 or annual earnings of Rs 60 per share, so even if we apply a conservative PE multiple of 10 that means its value should be Rs. 600.

So value of each Malco share should be AT LEAST Rs 600+ 1112 = 1712 or upside of roughly Rs 856.50 per share.