Denisons Hydraulics India Ltd

The company is having exclusive rights to sell the `DENISON` Brand
Products in India. However, with the changes that have taken place in
the ownership of `DENISON`, USA., and other places, the `DENISON`
products of foreign origin are likely to be marketed in India with a
different Brand name, which situation is likely to affect market for
company`s products in India. In the changed scenario, it is
expected that the products which can be offered at very competitive
price only can survive and the profit margins are likely to be eroded
to a greater extent.
Denison Hydraulics India Ltd has informed that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on June 16, 2008, to approve the issue of 4,50,000 (Four Lakhs Fifty Thousand Only) Equity Shares of Rs 10/- each for cash at par aggregating to Rs 45,00,000 (Rupees Fourty Five Lakhs Only) on a rights basis to the existing shareholders of the Company in the ratio of 1 equity share for every four equity shares held on the record date.
it has an equity of 1.8 cr and it has posted performance like
2006 it has posted35 cr turnover and net profit of 5.80 cr e.p.s at -32rs
2007 posted 51cr turnover 8.97 cr net profit e.p.s at 50 rs
2008 posted for half year (sep year ending) 28cr turnover 4.5cr .vs. 13.62turnover1.97cr
expecting 15cr for full year.ep.s of 83 rs
current price at 465rs trading at 5.5 p.e only
great buy. at current level