Sterling Biotech Ltd - 512299

Name of Company	Sterling Biotech Ltd.
BSE Code	512299
NSE Code	STERLINBIO
ICICI Code
Established	1985 (as Pluto exports)
My Take	So-So
Headquarters	Mumbai
Promoters	Sandesara group (Nithin J Sandesara)
Story	Has industries producing gelatin in Vadodara and Ooty. The company used ECB of 90 mi to buy back FCCBs.
Sector	Pharmaceuticals
Sub-sector	Contract manufacturing, gelatin
Website	http://www.sterlingbiopharma.com/Home.aspx
Positives	Regular dividend payer with yields around 0.5% at current prices.
Negatives	Debt is worrying as it is huge at 3090 Cr. Interest payments in CY09 have been 150 Cr. In CY10 it has been worse at 220 Cr.
Peers
News
Price @ blogged	93.05 (04-May-11)
Cost of company	2492.81 Cr market cap for a 145.32 Cr NP in FY ending Dec ' 10 makes it 17 times. This is for a company with 3090.87 Cr debt and 2045.31 Cr reserves
Group	Fast growers
Growth	Revenue has grown from 481 Cr to 1447 Cr in 5 years from CY05 to 09. CY10 was around 1600 Cr. This is a good growth story.