Lakshmi Machine can touch Rs 2500: Tulsian

Lakshmi Machine Works can touch Rs 2500 in the next six months, says Investment Advisor, SP Tulsian.

Tulsian told CNBC-TV18, "The company has posted very good results for FY11. This is one amongst the top three global majors engaged in the manufacture of textile machinery. For FY11, they have posted top-line of Rs 1,800 crore plus EPS of Rs 125. if you go by the financials the company is not a debt free but apart from that they are sitting on a cash of Rs 750 crore. This Rs 750 crore is after initiating a share buyback which the company made last quarter. Due to which the equity got reduced close to about Rs 11.50 crore. This cash translates into about Rs 650 per share and the share is ruling close to about Rs 2,010-2,015.