Why Mr. Dhuru wants Rs.50 crore, if he has high level of cash balances !!! Thanks...

fds, if fiis come out to sell and the supply left only for retail to pick up, even Rs. 20 may be a high price. If many of them come to sell, price may come to low single digit. So there is no doubt on the downside risk, be it in this or in any other stock. We buy shares to participate on the upside, and so should be ready to face the downside too, if need be. ...

Dear fds, Cash balance is a nice factor but its all left to the crooked promoters. We have seen such types of reserves vaporized in one Qtr results. We all hoped that at some point these type of promoters will fill their belly and take it up to reward themselves big and in the process we too get rewarded. Hence its a patience game. But one doesnot know how much big is their belly.. So much of greed on the expense of investors... Our regulators can humble kumbakarn....

Erlier they tried to postpone the AGM giving reason of financial data corruption which was rejected by ROC.Now they purposely delay the annual reports.once the auditors certify the cash balance of 350+ crores the stock price will zoom above 50 in no time.mean while they may work some scheme to take benefit of the current stock price...

Yes,its time to exits from aptech....

Something strange is happening here. AGM notice is stating that audited results will be considered but they have gone to town saying that data is corrupted and yearly as well as quarterly results will be delayed. Was this a April fool story. One consolation is that the auditors are not being changed. so things may not be that bad. Clear hold for the present....

I agree. I think they have misplaced the FD receipts for Rs 300 Crs, which they have claimed to be in some Portugese Bank. I believe after Satyam fiasco, their auditors are asking for a proof for that FD. Regards, Ashok Rai...

This report was published on 9th sept09 by CARE.Pl read and give your comments

CARE ASSIGNS ‘A’ RATING TO THE NCD ISSUE OF
AFTEK LTD.
CARE has assigned a ‘CARE A’ (Single A) rating to Aftek’s proposed Non Convertible
Debentures (NCD) aggregating Rs.50 crore.
Instruments with this rating are considered to offer adequate safety for timely servicing of debt obligations. Such instruments carry low credit risk.
CARE assigns `+` or `-` signs to be shown after the assigned rating (wherever
necessary) to indicate the relative position within the band covered by the rating
Rating Rationale
The rating is based on Aftek’s more than twenty year track record, comfortable
liquidity position, low debt levels and high interest coverage ratio, high profit margins,strength of Aftek’s technical team, diversification efforts undertaken and the company’s capacity to generate cash.The rating, however, is constrained by the dependence on uncertain export market,technology & product life-cycle risk and negative outlook of the industry in the shortto-medium term.
The ability of the company to launch its new products successfully and to effectively integrate its acquisitions remains the key rating sensitivities
Company Profile
Aftek was established in 1986 when it started with selling assembled computers and peripherals. Post 1995, after gaining substantial exposure in the IT industry, Aftek started offering software services which form more than 90% of its offerings. Aftek is mainly engaged in providing services in Information Technology, embedded systems,hardware engineering, testing services and solutions.
Aftek was traditionally engaged in the capacity of an intermediary between the
customer and the testing-services provider. The company has planned to introduce product/offerings of its own to the customers, which will help Aftek diversify its business and improve margins. Moreover, the new offerings are primarily aimed at domestic market which would not carry the foreign exchange risk posed by a highly export dependent revenue structure in the past.Aftek had reported a total income of Rs.392.54 crore and earned a PAT of Rs.80.94crore in FY08.
The gearing ratios of the company were comfortable as at end of FY07, FY08 and FY09 (provisional). Interest coverage has been fairly adequate due to strong operation margin and low gearing levels.
In FY09, (as per provisional results) Aftek reported a loss of Rs.6.95 crore due to diminution in value of investments of its subsidiary Arexera AG, which was notional in nature. Notwithstanding the above, Aftek’s liquidity position was comfortable as it had high level of cash balances.Analyst Contact
Name: Umeshpratap Singh
Email: umesh.singh@careratings dot com

...

aftek is more valued than geodesic.may be it is not reflected in the share price.Iam sure it will quote more than geo in the near future. ...

dear
What you see, may be FII can`t see.
There is huge fii holding.the rosy picture
by management is to help fii to unload.
price is heading for 60....

Investigations are on by Chinese regulator. It seems there is a fraud and not some silly discrepencies in their accounts as made out to be,come out before it reaches double digit....

Erlier they tried to postpone the AGM giving reason of financial data corruption
which was rejected by ROC.Now they purposely delay the annual reports.once the auditors certify the cash balance of 350+ crores the stock price will zoom above 50 in no time.mean while they may work some scheme to take benefit of the current stock price...

Dear friends
They have deliberatly thrown the ball to the retail investors to play and periodically injecting fear and confusion
in the minds so that the price is under control.now one need to wait for annual report of directors,auditors and the status of cash balance of 350+ crores
No need to panic.there is nothing wrong with the company....

come out fast from this counter.
you will never get this price ever again.
companys india operations at historic low
this is all gimmic by rakesh to trap small
investor...