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Invest in Manaksia at Rs 44: Tulsian
Investment Advisor SP Tulsian is of the view that one can invest in Manaksia at Rs 44 with a 12 month perspective. This company is into the cold and aluminum rolling, and they are making packaging products. They have about 15 manufacturing plants in India and their equity is quite low, it is about Rs 14 crore with a face value of Rs 2.
Investment Advisor SP Tulsian is of the view that one can invest in Manaksia at Rs 44 with a 12 month perspective.
Tulsian told CNBC-TV18, "Manaksia is a very interesting play, this company is into the cold and aluminum rolling, and they are making packaging products. They have about 15 manufacturing plants in India and their equity is quite low, it is about Rs 14 crore with a face value of Rs 2 and for FY09. They had an EPS of about Rs 15 with a book value of Rs 88, while their cash EPS is quite high which is about Rs 23. If you see the performance of the company, their market cap is just Rs 300 crore and right now it is ruling at Rs 44 and they came out with a public issue at about Rs 160 per share."
He further added, "As I say 15 plants in India, three abroad with a dividend which they have paid of 110%, I don't think you can expect anything better than that with a price to book at 0.5, with a good dividend payout and good growth, their equity turnover ratio is over Rs 110-120 times because their turnover is close to Rs 1,500 crore on an equity of about Rs 14 crore. So at Rs 44 this qualifies as very good investment if somebody can have a view of 12 months or so."
