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Jul 13, 2017 01:31 PM IST

Subscribe to Salasar Techno Engineering: HEM securities

HEM securities has come out with its report on Salasar Techno Engineering. The research firm has recommended to “Subscribe ” the IPO in its research report as on July 12, 2017.

 
 
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Company is a provider of customised steel fabrication and infrastructure solutions in India for Telecommunication Towers, Transmission Towers & Substation Structures and Solar Module Mounting Structures. The objective of Company is to supply customized, high-quality material to its impressive and ever-growing clientele. Co provide 360 degree solutions by carrying out engineering, designing, fabrication, galvanization and deployment. Co’s products include Telecommunication Towers, Power Transmission Line Towers, Smart Lighting Poles, Mono-poles, Guard Rails, Substation Structures, Solar Module Mounting Structures and Customized Galvanized & Non-galvanized steel structures. Co’s services include providing complete engineering, procurement and control for projects such as Rural Electrification, Power Transmission Lines, and Solar Power Plants.

Reasons to Subscribe:

Salasar has a strong customer profile and some of its major customers are Bharti Infratel Ltd, Indus Towers Ltd, Huawei Technologies Nepal Company Pvt Ltd, Reliance Jio Infocomm Ltd, Acme Cleantech solution Pvt Ltd, ATC Telecom Infrastruc-ture Pvt Ltd, U.P. Power Transmission Corporation Ltd, Indus Towers Ltd, Prayatana Developers Pvt Ltd, Unitech Power Transmission Ltd, Today Green Energy Pvt Ltd, Viom Networks Ltd, Welspun Renewables Energy (P) Ltd etc.

Co’s Promoter and Managing Director, Mr. Alok Kumar has over 41 years of experience in trading, manufacturing and fab-rication of iron & steel and Mr. Shalabh Agarwal, Promoter and Whole-Time Director of company, has over 18 years of experi-ence in sugar industry and trading, manufacturing and fabrica-tion of iron & steel.

Valuation
At price of Rs 108/share, co is bringing the issue at p/e multiple of 6.91 on post issue FY17 eps of Rs 15.62.

With decent fundamentals, co’s valuation look reasonable at cur-rent level. Hence we recommend “Subscribe” on issue.

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