Bajaj Hindusthan Ltd 500032

Name of Company	Bajaj Hindusthan Ltd
BSE Code	500032
NSE Code	BAJAJHIND
ICICI Code
Established
My Take	Like
Headquarters	Mumbai
Promoters	Bajaj group (Shishir Bajaj is CMD)
Story	India's largest sugar manufacturer. 2000 Cr market cap company (at rs 110). Owns 75% of Bajaj Hindusthan Sugar and Industries (507500). Completely owns Bajaj Energy Pvt Ltd. The company is setting up SPV to setup 430 MW thermal power plants . The company has 14 sugar plants (10 are owned by BHSIL) with a total crushing capacity of 136K tcd (tones crushed per day). Manufacturing 800K ltrs of alcohol, BHL is India's largest ethanol producer. Wholly owned Bajaj Eco-tec manufactures completely wood-free MDF/PB boards from bagasse waste.
Sector	Sugar
Sub-sector	Manufactures sugar, ethanol, Particle boards, medium density fibre boards.
Website	http://www.bajajhindustan.com/
Positives	Regular dividend paying company with expected yield at 0.5% (at a cost of Rs. 110.  At 110, very near its 1 year low. Regular profits except in FY08. Can expect NPM around 10%. Revenue has doubled from 836 Cr in FY05 to 1780 Cr in FY09. Reserves are huge at 2,250 Cr (25% more than FY09 revenue). This seems like they are waiting for an acquisition/big expansion plans. Ethanol adoption policy by government would be a huge plus for this company as they have largely expanded capacity in that front.
Negatives	Net profit has not done much though from FY05 to FY09 (140 Cr in FY05, 150 Cr in FY09).
Peers	Sakthi, Uttam
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