Punj Lloyd ltd - 532693

Name of Company	Punj Lloyd ltd
BSE Code	532693
NSE Code
ICICI Code
Established
My Take	Like
Headquarters	Delhi
Promoters
Story	Mostly constructs for industries – esp for oil and gas plants. Announced the entry into Solar utility projects in Nov 09.
Sector	Construction
Sub-sector	Large industrial construction.
Website	http://www.punjlloyd.com/
Positives	Reserves are at around half of the annual revenues. PE at current prices is at 11 (considering FY10 profits). From FY06 to FY10, revenues have grown from 1350 Cr to 7200 Cr. New orders keep coming. Does not depend heavily on government spending. Seems like a better bet than IVRCL and Gammon at same PE. Cost is also very near 52 week low of Rs. 114.
Negatives	VK Kaushik (the MD of the company seems to be clearly doing some insider trading). NPM's are at 3-5% which are nowhere near L&T's NPMs of 7-10%, but near Gammon and IVRCL. Interest paid was 3% of revenues, whereas for L&T it was 1.3 %. Dividend yield is regular and expected around 0.2% at current prices. Heard it has execution problems - but order book is still strong.
Peers	Gammon, IVRCL, L&T
News
Price @ blogged	118.65 (6/6/2010)