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14.09.2019

*AAKASHAYA PATRA EXCLUSIVE STOCK FOR INVESTMENT:* 

KRITI INDUSTRIES (INDIA) LTD
(CMP 27)
 ENTER LEVEL – 25 TO 23 STOPLOSS 18 TARGET 50-60 IN 12-18 MONTHS

Incorporated in 1990, Indore based, Kriti Industries (India) Limited manufactures and sells plastic products in India. The company offers RPVC pipes and fittings, casing pipes, PE coils, sprinkler systems, submersible pipes, suctions, garden pipes, SWR and drainage pipe and fittings, CPVC and plumb pipes and fittings, micro irrigation laterals, RPVC ring fit pipes (elastromeric) and fittings, HDPE and MDPE pipes and fittings, PLB telecom ducts, and micro ducts under the Kasta brand name. It serves agriculture, building products, micro irrigation, and infrastructure sectors. It has an equity base of just Rs.4.96crore that is supported by reserves of around Rs.76.36crore. The promoters hold 65.87% while the investing public holds 34.13% stake in the company. Promoters have increased their stake by 0.11% during H1CY19 which is positive sign. Company has posted superb numbers for Q1FY20. For Q1FY20, KIL's net profit zoomed 34.38% to Rs.6.88crore on 28.92% higher sales of Rs.225.67crore fetching an EPS of Rs.1.39. Currently, the stock trades at a P/E of 16.9x. It has paid 15% dividend for FY19. Its recent high rate was Rs.62.8 which was formed on 6th March 2018. Stock almost corrected 58% from recent high.

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