Techtran Poly lenses is the largest Plastic ophthalmic lense
manufacturer from India.Its manufacturing facility is located
at Hyderabad and having a capacity of 5 million lenses per annum.
Company making Progressive,Bio-focal and single vision lenses .
Even if company’s products are well known for its quality ,it failed to
set up good marketing channel and scale up the promising business
beyond certain level. This is mainly because of the scarcity of funds
and lack of business sense of promoters. Citing the opportunity
available with the company , Dr.Jayaram Chigurupathi ,promoter of
Zenotech Lab - through Credence Infrastructure Ltd -took over
this company last month. As mentioned earlier promoters efficiency
and lack of funds were the main problems of the company in the
past and which is expected to compensated going forward
by the change in management control. Last year company posted
a turnover of Rs.29 Crore and a net profit of Rs.2 Crore.
Earlier company was exporting its products to few re-sellers which dent
its margins . Re-working this strategy by setting up its own retail
chain and introducing value added products , which company is planning
now may change its fortune. Keep an eye on this one ,CMP is Rs.23/-
Hello sir, only concern for me is promoter holding, is it not too low, 30%, may be new promoter is looking to increase. But if you have some views let us know
ReplyDeleteIn a board meeting held on 4th June 2010,it is decided to allot 20 lakhs shares and 13 lakhs warrants at a price of Rs.15.60/- to the new promoters on pref.basis .Hope this will solve the prob of low promoter stake.
ReplyDeletehello sir,
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Dear tvsr
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Dear Sokhi
ReplyDeleteMay take limited exposure ,but major gain expected only from 2012