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23.02.2020

AAKASHAYA PATRA EXCLUSIVE STOCK FOR INVESTMENT:


MADISON METALS
CMP 34
ENTER LEVEL – 32 TO 30 STOP LOSS-25 TARGET 60 IN 24 MONTHS

Madison Metals Limited manufactures and sells electrical contacts for low, medium, and high voltage switch gear industries in India and internationally. The company provides electrical contacts for low voltage applications,including silver tin oxide, steel/ni/cupro nickel backed button, solid/bimetal rivets, silver tungsten and silver tungsten carbide, and silver cadmium oxide contacts;silver brazing alloys, dispersion strengthened copper,fine silver powder/granules, and silver graphite; and silver inlays, edge lays, overlays, through lays, and copper/brass toplays. It also offers electrical contacts for medium voltage applications, such as copper,copper zirconium, copper chromium, and copper chromium zirconium current carrying parts;copper tungsten, EB welded arcing, and brazed arcing contacts; eutectic brazing alloys for vacuum applications; copper chromium discs; and cast on plugs and segments. In addition, the company provides silver bullion bars and coins. Further, it is involved in the refining and recovery of precious metals; melting and assaying of silver; silver plating activities; research and development of contact materials for special applications; and provision of electron beam welding services.It has an equity base of just Rs.3.25crore that is supported by reserves of around Rs.135.78crore.The Promoters hold 52.65% while the investing public holds 47.35% stake in the company.For Q2FY20, MML posted 66% higher PAT of Rs.5.44crore on higher sales of Rs.58.55crore and an EPS of Rs.1.68.It paid 150% dividend for FY19. Currently, the stock trades cheap at a P/E of 7.25x and at 62% discount to its recent high of Rs.92.5 recorded in January 2018.

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