Lakshmi Energy and Food Ltd - 519570

Name of Company	Lakshmi Energy and Food Ltd (Formerly Lakshmi Overseas Industries Ltd)
BSE Code	519570
NSE Code	LAKSHMIEFL
ICICI Code
Established
My Take	So-So
Headquarters	Chandigarh
Promoters	Balbir Singh Uppal and son Janak Raj Singh Uppal
Story	The brand name Lakshmi foods is famous. They are the largest producers of non-basmati rice. They procure mainly from Punjab.
Sector	Agri-processing
Sub-sector	Rice, Rice bran oil, Cattle feed
Website	http://www.lakshmigroup.in/
Positives	45% promoter holding, none pledged. Near 52 week low of 64. 7-12% NPM seem very good. Regularly profitable company. Revenue doubled from 560 Cr to 1169 Cr from FY06 to FY10. FY11 revenue as well seems to be around 1400 Cr from the H1 results, but profits seem to be lesser around 80 Cr.
Negatives	Lot of Mauritius and other foreign investments which may or may not be real FIIs. Missed paying dividend in 2008. Dividend around 0.7% at current price.
Peers
News
Price @ blogged	71.50(27-Dec-10)
Cost of company	452 Cr for a FY10 NP of 88 Cr translates to around 5 times. With 533 Cr in debt and 544 Cr in reserves, this seems cheap – esp with growth.