16.06.2019
AAKASHAYA PATRA EXCLUSIVE STOCK FOR INVESTMENT:
ACKNIT Ind. (CMP90)
Target - 200-215, SL - 75
Time Frame 12 to 24 Months
in
1990, Acknit Industries is an ISO 9001 - 2008 Public Limited Company, In a span
of twenty six years of operations it is now one of the largest manufacturers
and exporters of industrial gloves and garments.Acknit is having three
different manufacturing divisions near Kolkata, India via.
1.
Seamless Gloves Division :- Situated in Special Economic Zone (SEZ)
manufacturing
Seamless
Gloves made of 100% Cotton, Poly /Cotton, Nylon, Kevlar, HPPE and other special
cut resistant blended yarns etc., for cut lever 1 to 5.,ACKNIT is having 3
coating facilities which produces PU Coating, Nitrile Coating & Layex
Coated Gloves.
2.
Industrial Leather Products Division :- Acknit owns a full integrated setup
backed up with its own tanning facilities for manufacturing Leather Gloves and
special type of Leather Gloves of Kevlar / HPPE /Glass Yarns with leather
stitch on the palm and at the back of the finger tips. It is one of the fastest
growing and leading exporters from India in a short span of time.
3.
Industrial Garments Division - :- Manufacturing various types of Industrial
Garments made of Cotton,Poly / Cotton, high visibility fabric with 3m
reflective tape, heat resistant, Nomex and T-Shirt of all types.
All
the units are of international standards with sophisticated machinery and state
of the art facilities having adequate production capacity to meet the growing
market demands. The products are manufactured as per CE norms and well approved
by the overseas customers. Over 90% productions are exported to European
countries regularly and it is a recognized export house by the government of
India.It has an equity base of just Rs.3.04crore that is supported by reserves
of around Rs.41.99crore. It has a share book value of Rs.148.12 & price to
book value ratio is just 0.6x which is impressive.The Promoters hold 50.34%
while the investing public holds 49.66% stake in the company.During FY19, its
net profit soared 57.57% to Rs.4.68crore from Rs.2.97crore in FY18 on higher
sales of Rs.164.49crore fetching an EPS of Rs.15.4. At CMP stock is trading at
PE ratio of just 5.9x. It is regular dividend paying company and it declares
15% dividend for FY19. Its 52 week high rate is Rs.174 which was
formed in October 2018. Stock almost corrected 48% from 52 week high.
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