Mukand Engineers Ltd - 532097

Name of Company	Mukand Engineers Ltd.
BSE Code	532097
NSE Code	MUKANDEN
ICICI Code
Established
My Take	So-So
Headquarters	Mumbai
Promoters	Bajaj group (Niraj Bajaj is director of the company). The brothers have different holding of bajaj companies. So, the management is not one and the same.
Story
Sector	civil contracting
Sub-sector	Civil contracting work for power plants, refineries, Steel plants, Al plants. Mainly Piping work, Structural works, electrical works.
Website	http://www.mukand.com/  (parent company)
Positives	Paid dividend for the last 2 years. Very good growth recently. Niche civil contractor.
Negatives	Company does not have a website. FY01 and FY 02 were over 60 Cr revenue years. After that the company fell into bad revenues of less than 20 Cr in FY 04 and FY 06. Loans of 17 Cr given to companies (unknown) needs to be recovered. These are no interest loans. Economy slowdown can be disasterous.
Peers
News
Price @ blogged	32.85 (04-Jul-11)
Cost of company	41 Cr market cap for a 6.52 Cr NP in FY ending Mar ' 11 makes it 6.2 times. This is for a company with 29 Cr debt and 36.88 Cr reserves in Fy10.
Group	Cyclicals
Growth	Sales have grown from 19 Cr to 129 Cr from FY06 to Fy11 (5 years). NP has grown from 1.5 Cr to 8 Cr in the same period.