Piramal Glass once recommended at Rs.78/- on March 25.Current market price is Rs.97/-.Recently company declared its March qtr result which is as our expectation ( profit of Rs.12 cr v/s a loss of 40 Cr.) Company's U S unit shows turnaround performance and expected to perform even better in Current FY. Hence long term investors can BUY even at current level.
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Reproducing our earlier report below :
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Thursday, March 25, 2010
PIRAMAL GLASS -MOVING TO PROFIT
Piramal Glass (Formerly Gujarat Glass) is a company de-merged from Nicholas Piramal Ltd in 1998.Later it merged with Kojam Finvest ,a BSE listed company from the same group and changed the name to Piramal Glass Ltd. This company is a leading global manufacturer of flaconnage (glass containers) for pharmaceuticals, foods & beverages and cosmetics and perfumery industries. The Company is also the largest producer of nail-polish bottles globally, with more than 30% market share.Company has manufacturing facilities in India, Sri Lanka and USA and it markets its products to more than 54 countries.It has two plants in India at Kosamba and Jambusar in Gujarat and three in US and one plant in Sri Lanka. Company is growing at a very good pace and the end of political problems in Sri Lanka is expected to improve its sales in the years to come.For FY 2009 company posted a turnover of 1030 Crore and a a net loss of Rs.107 cr. In August 2009 company came out with a massive Rights Issue and its share capital is now stands at Rs.80 crore.Using this funds,company cleared a large portion of its debts which were a major dampener in its profitability .Latest financial results for December 2009 qtr clearly indicates the effect of reduction in debt and improved business prospects.Company posted a profit of Rs.11 cr for Dec qtr as against a loss of 38 cr posted in the same qtr of last year. Investors with sufficient patience can take exposure in this Nicholas Piramal Group company at CMP of Rs.78.
Sir,
ReplyDeleteDo you see any prospect for the below mentioned companies in future?
ASIAN ELECTRONIC,
DCM SHRIRAM industry,
FORCE MOTOR,
INSILCO,
UNIPHOS ENTERPRISE,
& AMBALAL SARABHAI.
Dear value pick, is it worth entering PINC at CMP for long term (approx 3 yrs)?
ReplyDeleteit has suddenly gained the momentum in last few days...is this due to operator driven?
suggestions please.
i am sorry for asking this here.
waiting for your reply sir
regards,
senthil
Dear Friend
ReplyDeleteI have recommended this scrip on March 7 when it was around Rs.50/-. Now it is around Rs.80/- which means about 60% higher than the reco.price. It is only a hold for me at CMP .
thanks a lot valuepick sir.
ReplyDeletei wait and watch PINC.
regards
Dr.senthil
Value sir,
ReplyDeletedo you think Piramal Glass warrants buy at current price?