Diamines and Chemicals Ltd - 500120

Name of Company	Diamines and Chemicals Ltd
BSE Code	500120
NSE Code	Not listed
ICICI Code
Established	1976
My Take	Like
Headquarters	Vadodara
Promoters	Yogesh M Kothari (Alkyl Amines Ltd)
Story	Claims to be the first and leader in ethylamines in India.
Sector	Chemicals
Sub-sector	Ethylamines
Website	http://dacl.co.in/
Positives	65% promoter shareholding (though 4% is pledged). Regular dividend paying company – 1.5% dividend at current cost. Regularly profitable company (lowest NPM was 5% and highest was 34%).
Negatives	Small company with annual revenues of 54 Cr (FY10) and 14 Cr debt (FY09). FY09 interest was 1.8 Cr, FY10 interest paid was 2.58 Cr.
Peers
News
Price @ blogged	72.50 (22-Sep-10)
Cost of company	47 Cr market cap for a 9.35 Cr NP in FY10 seems fair at <5 times. Has some upside as well. can go up if FY11 revenue and profits increase or stay like this.

Wim Plast Ltd - 526586

Name of Company	Wim Plast Ltd
BSE Code	526586
NSE Code	WIMPLAST
ICICI Code
Established
My Take	Like
Headquarters	Daman
Promoters	Ghisulal D Rathod and family
Story	Manufactures Cello brand furniture and other plastic products. Manufacturing units at Baddi, Himachal Pradesh and Daman.
Sector	Plastics
Sub-sector	Furniture, others.
Website	http://www.cellobubbleguard.com/
Positives	71% promoter shareholding, none pledged – great positive, even though shareholding came down from 75% recently. Regular dividend paying company – can expect >1.4% yield at current prices. 62 Cr FY10 reserves are huge compared to 130 Cr revenue and 17 Cr profits. Consistently profitable company – though the NPMs can be expected at 3-4% Fy09 and FY10 were exceptions at 8.7 and 13% respectively. Debt is shown in FY09 as zero – before that 5-12 Cr was seen. Can buy at lower levels
Negatives	Valuation may seem cheap due to higher than normal profits in FY10.
Peers
News
Price @ blogged	215(5-Sep-10)
Cost of company	128 Cr market cap for a net FY10 profit of 17 Cr makes it at 7.5 times- though 17 Cr does not seem like normal. Market cap is also equivalent to its 130 Cr FY10 revenues. Assuming 5% as NPM for this year, the net profit would have been 6.5 Cr – that makes the cost near 20 times.

Subuthi Finance Ltd - 531841

Name of Company	Subuthi Finance Ltd
BSE Code	531841
NSE Code
ICICI Code
Established	1992
My Take	Dislike
Headquarters	Chennai
Promoters	A Raja Sukumar(of Indowind energy fame) is director, KV Bala is promoter and MD
Story	Subuthi owns about 13% of Indowind energy and has pledged 1% of the shares.
Sector	NBFC
Sub-sector	Lending and investment in ventures
Website	http://www.subuthi.in/index.html
Positives
Negatives	Out of 200 Cr, even if value this as 10% i.e 20 Cr. I don't know how much they owe. Definitely not worth 69 Cr market cap. Earnings does not show any significant numbers. 13 lakhs, 11 lakhs are all profits which these company makes annually – No scope in near future that this would increase.
Peers
News
Price @ blogged	140 (5-Sep-10)
Cost of company	69 Cr market cap for a FY10 profit of 0.13 Cr. Even if you would pay 10 times net profit for such a company you can only pay 1.3 Cr – 69 Cr is atrocious even if you add the 20 Cr from Indowind.

Fedders Llyod Corporation Ltd - 500139

Name of Company	Fedders Llyod Corporation Ltd
BSE Code	500139
NSE Code	FEDDERLOYD
ICICI Code
Established	1957
My Take	Disike
Headquarters	Noida
Promoters	Punj family(Brij Raj Punj is MD) – called Lloyd group and Brij Raj Punj group
Story	Started in 1957 – first marketed A/c's then started manufacturing. I don't know where their manufacturing units are. Searching in Indian websites such as next.co.in does not find this brand listed. But searching justdial for dealers did list me a lot of dealers.
Sector	Manufacturing
Sub-sector	Air conditioning(consumer A/c under the brand name of LLOYD). A/c for buses, rail coaches, defence and telecom.
Website	http://www.fedderslloyd.com http://www.fedderslloydcorp.com/
Positives	Promoters stake at 37.7% and fairly constant – none are pledged. Revenue and profits have grown heavily from FY05 to FY10.
Negatives	Dividend is not regular, Does not retail at large stores – dependent on small stores. Complaints on consumercomplaints.in for after sales service are really worrying. FY10 NPM at 6% are higher than normal 2-4%. No reserves. FY09 debt is 119 Cr.
Peers
News
Price @ blogged	98.6 (5-Sep-10)
Cost of company	303 Cr market cap @ current price compared to 41 Cr net profit makes it less than 7.5 times.