Schrader Duncan Ltd 504908

Name of Company	Schrader Duncan Ltd
BSE Code	504908
NSE Code
ICICI Code
Established	1963
My Take	So-So
Headquarters	Mumbai
Promoters	Schrader Bridgeport, Indian partner is Duncan JP Goenka
Story	An Indo American JV with Schrader Bridgeport Int, USA. Employing over 300 people and manufacturing units in Mumbai and Nasik. Supplies to Appolo, Ceat, MRF, Goodyear. Pneumatic supplies to L&T, EEL India, Manugraph industries.
Sector	Auto Anciliary
Sub-sector	Tyre tube values and pneumatic equipment
Website	http://www.schraderindia.com/new/home.php
Positives	52 Cr Market cap (at Rs. 142) for a 51 Cr FY09 revenue. Regular dividend yield of 0.5% or more (cost price Rs. 142).  Company has 27 Cr as reserves – some plans like acquisition or new plants could be in the offing.
Negatives	5% OPM, 2% NPM. No capital infusion planned. With FY09 profits, EPS is 2.95. P/E at 50 times (even Bosch which has 10% NPM is at 25 times only). Revenue growth has been slow- <9% CAGR from FY05 to FY09. In fact net profit in FY05 was 2.5 Cr, but in FY09 – profit is 1 Cr (not a bad year, this is the trend).
Peers	Bosch