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)