10.06.2019
*AAKASHAYA PATRA EXCLUSIVE STOCK FOR INVESTMENT:*
Maan Aluminium (CMP90)
Target - 180-200, SL - 75
Time Frame 12 to 24 Months
Incorporated in 1989, New Delhi based Maan Aluminium Limited
manufactures and sells aluminum extruded products in India. It offers aluminum
profiles; geometrical shapes and architectural hardware; AC grills and
diffusers; and other special shapes, tools, dies, and cuts aluminum products.The
company serves OEMs and various organizations of the Indian government. It also
exports its products to the United States, Europe, and the Middle East. Maan
has an annual capacity of 9,000 metric tons under one roof with three hydraulic
extrusion presses of 900, 1,200 and 1,450 tons which are controlled by
Micro-processor based technology and programmable logic control (PLC) system.
They have a fully integrated plant with a Billet casting and Die manufacturing
facility,their in-house foundry has two furnaces with a capacity of 5 and 10
metric tons respectively.It has an equity capital of just Rs.6.76crore supported
by reserves of around Rs.36.94crore. The promoters hold 65.32% of the equity
capital, which leaves 34.68% stake with the investing public.During Q4FY19, MAL
posted 127.36% higher PAT of Rs.2.16crore on 88.63% higher sales of
Rs.205.07crore fetching an EPS of Rs.3.20.During FY19, its net profit soared
43.61% to Rs.9.22crore from Rs.6.42crore in FY18 on 45.18% higher sales of
Rs.651.99crore fetching an EPS of Rs.13.64. Its bottom-line has grown at 140% CAGR
over the last four years while top-line has grown at 56% CAGR over the last
four years.Currently, the stock trades at a P/E of just 6.8x. Its 52 week high
rate is Rs.144 which was formed on 9th August 2018. Stock almost corrected 37%
from 52 week high.
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