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Steelcast Ltd (CMP Rs.170)


Target - 225 - 250, SL - 140 Time Frame 12 to 24 Months
Incorporated in 1960, Bhavnagar based Steelcast Limited manufactures and sells steel castings in India, the United States, and Germany. It is amongst India's leading alloy and steel castings manufacturers with over five decades' experience in the casting industry. The Company's Bhavnagar (Gujarat)unit manufactures steel casting products using No Bake and Shell Moulding
techniques. These products largely cater and are built for earth moving and construction equipment manufacturers. So far, the Company was largely into the mining industry. However, over the years, it has expanded into Agriculture Equipment Manufacturing, Defense, Ground Engaging Tools, Locomotives & Railways,Oil exploration and the Transport industry. It has an equity base of Rs.10.12crore that is supported by reserves of around Rs.92.17crore.The promoters hold 45.79% while the investing public holds 54.21% stake in the company.9MFY19, it posted 60% higher PAT of Rs.19.50crore on 48% higher sales of Rs.283.63crore and
an EPS of Rs.9.64. Currently, the stock trades cheap at a P/E of 12x.Investors can accumulate this stock with a stop loss of Rs.140.It may give very good returns in medium to long term.


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