Cals Refineries 526652

Name of Company	Cals refineries
BSE Code	526652
NSE Code
ICICI Code
Established
My Take	Dislike
Headquarters
Promoters
Story	Company has not taken off. Promoters have record for not taking off companies.
Sector	Oil
Sub-sector	Refinery
Website
Positives
Negatives	Operator driven penny stock – don't burn your hands here.
Peers

Blue Dart express Ltd 526612

Name of Company	Blue Dart express Ltd
BSE Code	526612
NSE Code
ICICI Code
Established
My Take	Like
Headquarters
Promoters	DHL Express Singapore
Story
Sector	Services
Sub-sector	Logistics, Courier
Website	http://www.bluedart.com/
Positives	83% owned by DHL express Singapore. Upturn in economy is bound to help. MNC owned company is attractive. It is a pan India player with global alliances. They have their own airplanes. Get it for long term
Negatives	At 900, it is 35 times FY08 earnings.
Peers

Yashraj Containeurs - 530063

Updated this company to So-So. mainly because this company was not manufacturing any unique or products using difficult technology. These products can be manufactured by a lot of small scale companies. But still this company seems cheap at 3.13 times FY10 valuations. This company used to cost 25 Crores (I mean the market cap) when I first posted this. Now it quotes at 19 Crores. I do not see great growth prospects for this company. When storage using barrels starts reducing, I am not sure if this company can cater to those needs.

[updated 20-Jun-10] Changed to Dislike as the promoters have pledged thier stake (14% of the total stake has been pledged). Q4 FY10 was a loss making Qtr.

[updated 5-Jul-10] This company has a debt of 76 Cr in FY09. This is huge. compare it to the 20 Cr market cap and 1.25 Cr FY10 net profit.

Name of Company	Yashraj Containeurs
BSE Code	530063
NSE Code
ICICI Code	VASCON
Established	1993
My Take	Like [updated June-16-2010] So-So [updated 20-Jun-10] Dislike
Headquarters	Mumbai
Promoters
Story	Manufactures barrels. clients include BPCL, HPCL, IOCL, IBP, Bharat Shell, Jubiliant organosys, RIL. [updated 16-Jun-2010] Manufacturing in Chennai and Daman. They cater to leading oil companies, food processing and automobile companies.
Sector	Manufacturing
Sub-sector	Barrels
Website	http://www.barrelpeople.com/
Positives	25 Cr market company. KR Bharat (indivually and through Advent advisory service pvt ltd) holds more than 6%. Promoters are increasing stake.
Negatives	bad website, no dividend, wavery shareholding pattern - why?, [Update 16-Jun-2010] No new growth seen. Q4 FY10
Peers
Price @ blogged	First price unknown, 22 (16-Jun-2010), 22.30 (5-Jul-10)

Gokul Refoils 532980

Name of Company	Gokul refoils
BSE Code	532980
NSE Code
ICICI Code	GOKREF
Established	1992
My Take	So-So
Headquarters	Gujarat
Promoters
Story	The company is the seed processing, solvent extraction, refining edible oils and vanaspati manufacturing. Exports to USA, Europe and South Asia. Listed in 2008 and split stock to Rs. 2 face value.
Sector	Manufacturing
Sub-sector	Edible oils
Website	http://www.gokuloil.com/ http://www.gokulgroup.com/showpage.aspx?contentid=1
Positives	70% promoter holding. P/E at price of Rs. 70 is at 7 times based on FY09. Is setting up a refinery in Maharastra with a capacity of 1000 tons per day to raise to 3200 tons per day.
Negatives	The edible oil business is a thin margin business and subject to variation in commodity prices. Sometimes also regulated by government. Management does not seem focused as company does commodity trading as well.
Peers

Delton Cables 504240

Name of Company	Delton Cables
BSE Code	504240
NSE Code
ICICI Code
Established	1948
My Take	Disike
Headquarters	Delhi
Promoters
Story	Manufactures cables for telecommunications, power, railways, steel, mining, chemicals, cement industries. Has integrated manufacturing facilities at Faridabad (Haryana), Dharuhera (Haryana) and New Delhi. PVC compounding is also done in-house.
Sector	Manufacturing
Sub-sector	Cables
Website	http://www.deltoncables.com
Positives	Promoter holds 73% stake. Revenues have grown from 68 to 165 Cr from FY05 to FY09. Business is keep on running business. FY10 revenue has not risen, but looks like it is an aberration.
Negatives	Net profit has not done much – has been in 1-3 Cr range from FY05 to FY09. FY10 estimated earning is less than FY09 revenue. NPM's 1%, 2% are very less. This 60-odd year old company neither pays dividends nor is growth story. They are selling more but not profiting more so that they can acquire or setup new plants.
Peers	Havells India, Emgee cables, Webel SL

Timex Group India Ltd 533014

Name of Company	Timex Group India Ltd
BSE Code	533014
NSE Code
ICICI Code	TIMWAT
Established
My Take	Like
Headquarters	New Delhi
Promoters	MNC
Story	MNC stock. Official sponsors in 2011, parent company is largest manufacturer of watches. Sell after 2012. Buy more below 20. Timex(USA) is established in 1854 and is a famous brand.
Sector	Manufacturing
Sub-sector	Watches
Website	http://www.timexindia.com/
Positives	75% held by promoters. Considered a fashionable watch brand and has significant value. Earning youth are resulting in more timex watches being sold. India is the second largest market for Timex after USA. 20 stores are being opened in tier I and II cities. Kapil Kapoor has been elevated to be global COO of Timex worldwide – Indian operations may have more significance. The glitter of a MNC keeps this share attractive.
Negatives	Identification as owned by Tata/Titan causes some devalue to brand (The joint venture ended in 1998). Titan dominates the Indian market with a market share of 60% of organized watch sales. Timex is at 10%. The promoters may think of delisting the Indian entity (they already hold 75%). At Rs. 30, the P/E is at 40 based on FY09 earnings.
Peers

Standard Industries - 530017

Name of Company	Standard Industries
BSE Code	530017
NSE Code
ICICI Code	STAIN
Established
My Take	So-So
Headquarters
Promoters	Owners of Stanrose Mafatlal
Story	Pays a regular dividend of Rs 0.3 to Rs 0.6 every FY. (At Rs. 50 yield is 0.5-1%). At Rs. 50, market cap is 320 Cr.
Sector	Manufacturing
Sub-sector	Chemicals (Caustic Soda/Soda Ash)
Website
Positives	Mostly profit making, dividend paying. huge land bank - heard that it is having 63 acres which is considered for real-estate development and this can rope in >350 Cr
Negatives	Sometimes Other income is more than Revenue - not sure why? Why was there a negative revenue in Mar 09 Qtr. Promoter holding is 18%. June 08 had huge results because of sale of properties. Flat or wavery topline and bottomline. FY09 - 230 Cr topline and 50 Cr bottomlone (the highest till now), 320 Cr is resonble valuation.but the topline is due to sale of properties. FY10 is expected to complete with <12 Cr topline which surely does not justify 320 Cr market cap.
Peers