Godfrey Phillips India Ltd buy

Background


Godfrey Phillips is today the second largest player in the Indian cigarette industry with an annual turnover of over US$ 265 million. Incorporated in India in 1936, the Company established its own manufacturing facilities in 1944. Today, the operations span the entire northern and western part of the country, with two manufacturing facilities located in Ghaziabad (near Delhi) and in Andheri (Mumbai), a state of the art R&D centre in Mumbai and a tobacco-buying unit in Guntur (Andhra Pradesh). Headquartered in Delhi, the Company has its sales offices across the country at Ahmedabad, Mumbai, Delhi, Chandigarh and Hyderabad.
The R&D facility is recognized by the Department of Science & Technology, Government of India, and is one of a kind in India.
Godfrey Phillips has for the last 10 years used the Haichi-Ban, 5S, Kaizen Teian (a continuous improvement programme) & TQM (Total Quality Management) procedures.
Godfrey Phillips has two major stakeholders, one of India's leading industrial houses - the K.K. Modi Group and one of the World's largest tobacco companies, Philip Morris, USA. Godfrey Phillips has the strong backing of over 15,000 shareholders in the Country.


History

From its modest beginning in London way back in 1844, Godfrey Phillips, a major player in the Indian tobacco industry today, has come a long way.
Mr. Godfrey Phillips, founder of Godfrey Phillips & Sons commenced business in the Barbican (London), as a Cigar manufacturer in 1844. Messrs Godfrey Phillips, D.H. Wilmer and H.C. Water incorporated Godfrey Phillips India as a Private Ltd. Co. on 3rd December 1936. The Company imported cigarettes from Godfrey Phillips Ltd. U.K. In 1944, after the war, Godfrey Phillips bought Master Tobacco Co., Chakala, Andheri (Mumbai) thereby establishing its first factory in the Country. In October 1946, Godfrey Phillips became a Public Ltd. Co. with its manufacturing operations in Mumbai.Godfrey Phillips was then primarily a manufacturing company and made cigarette brands like Cavanders, Abdulla No. 7, Dereske, Marcovich, Red & White. In 1951/52 Godfrey Phillips UK bought out George Dobie & Son's, famous Four Square brand. In 1967, D. Macropolo & Co., which was the sole selling agent for Godfrey Phillips, opened a subsidiary company called "International Tobacco Co.", with its manufacturing facility in Ghaziabad (near Delhi) to manufacture cigarettes for Godfrey Phillips.In 1967-68, Philip Morris acquired substantial holding in Godfrey Phillips Ltd., U.K. and Godfrey Phillips Investment Corporation which was holding substantial shares of Godfrey Phillips India Ltd. It also acquired large share holding interest in George Dobie & Sons. Thus in 1968, Godfrey Phillips Ltd., U.K., George Dobie & Sons, and Godfrey Phillips became affiliates of Philip Morris.In 1973 Godfrey Phillips, successfully launched Four Square Kings, India's first King Size filter cigarette.
In 1979, Philip Morris joined hands with the K.K. Modi Group and in the following year the Modi Enterprises took over the management of Godfrey Phillips with a substantial financial stake.
Key Brands The Company today is the proud owner of some of the most popular cigarette brands in the country like Red & White, Four Square, Jaisalmer, Cavanders, Tipper and Prince. Its products are distributed through an extensive India wide network comprising 484 exclusive distributors and over 800,000 retail outlets.


Key Brands

The Company today is the proud owner of some of the most popular cigarette brands in the country like Red & White, Four Square, Jaisalmer, Cavanders, Tipper and Prince. Its products are distributed through an extensive India wide network comprising 484 exclusive distributors and over 800,000 retail outlets.


it has huge cash reserves i am expecting open offer at 2500 rs.

Galaxy Entertainment Corporation Ltd BUY

Galaxy Entertainment Corporation(GECL).

a public limited company is India's premier professionaly managed leisure and entertainment organisation. It operates South Asia's largest state of the art premium family entertainment centre. This entertainment centre at Mumbai comprises Bowling and other game facility, bars and banquet halls. GECL is a unique JV partnership created by The Chatterjee Group, a leading venture capitalist and the Ruias, the owners of Phoenix Mills, where the entertainment centre functions.

from last year annual report

Your Company proposes to expand the existing business operations by opening more Family Entertainment Centres (FECs) and Sports Bar in different states of the Country. The Company has sold/transferred the restaurant division "Rain Bar + Eatery" on slump sale basis to its wholly owned subsidiary namely Galaxy Lifestyle Restaurants Limited.

During the period under review, your Company has entered into a Joint Venture with M/s. Ridge Foods, a division of Ridge Hospitals Private Limited. The proposed Joint Venture has been set up under a new Company namely RAIN FRUITS & MORE PRIVATE LIMITED.
Barring unforeseen circumstances, your Directors are optimistic of reporting better results in the current year.

OPEN OFFER
In accordance with the requirements of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997, Pantaloon Retail (India) Limited consequent to acquisition of 20 lac equity shares on preferential basis had made a Public Announcement on 23rd February, 2005 to acquire up to 25,42,400 Equity Shares representing 20% of the total paid up equity share capital of the company at a price of Rs.51/- per share. Accordingly, the said acquirer party has during the period under review made an open offer for acquiring the aforesaid shares.

the company price has fallen from all time high 420 on 2005 to 76 . present price 82. to open offer price51 u have risk of 30 rs if u take 30rs risk u will get 300% return for a year time

company performance was started from i quarter .so take a chance

attention :- it has posted loss (63laks)for this quarter causing high Depreciation but achived turnover17 cr againest 7cr last year . hold for one -two years. for better returns

Denison Hydraulics India Ltd. BUY

PROMOTERS OF THE COMPANY

The Company was promoted by Sri. V C Janardan Rao who had earlier set up M/s. Veljan Hydrair Limited in 1966. Sri. Rao and Veljan Hydrair were selected by the Denison Division of Abex Corporation, USA to set up the venture of Denison Hydraulics India Limited to manufacture High Pressure Hydraulic Components and Systems.

Sri. V C Janardan Rao, aged 61 years is a qualified and experience Engineer with specialisation in the area of Fluid Power. Recognising Sri. Rao's achievements and that of Veljan, M/s Abex Corporation, USA through its Denison Division, selected Sri. Rao and Veljan as the Indian promoter from amongst several others, to setup the new venture of Denison Hydraulics India Limited to manufacture High Pressure Hydraulic Components and Systems.

In the year 1986-87, the Abex Corporation transferred their interest in the Denison Division to M/s. AB Hagglund & Soner of Sweden and since then the Denison Division came to be know as Hagglunds Denison worldwide.
As a result of the acquisition of the Denison Division by AB Hugglund & Soner from the Abex Corporation, AB Hugglund & Soner, Sweden have reaffirmed their continued technical support and help to the company covering all the products for which Know-how and the Collaboration Agreements were earlier entered into by the Company with the Abex Corporation.

The name of the company was also changed in the year 1988-99 from Denison Hydraulics India Limited to Hugglund Denison Limited to reflect its association with Hagglunds. The 2,34,000 Equity shares are held by M/s Incentive Fastighet AB AS ON 31ST October, 2000.

Veljan Hydrair Limited was promoted by Sri V C Janardan Rao in the year 1996. The Company is a closely held Public Limited Company. The Company is engaged in the manufacture of Pneumatic Equipments and Hydraulic Cylinders. The Company has been operating successfully and profitably.


earnings lat year . on 1.8cr eq netprofit was 5.80cr (32.e.p.s.). for nine months it has posted 6.25cr (34.7 e.p.s) i am expecting 3.5 cr on last quarter. so full year e.p.s could be 55 rs e.p.s .

share holding

Foreign Holdings 13.01

Corporate Bodies 0.43

Directors and their Relatives 73.1

Other including Indian Public 13.47

so lo liquidity . but with high reserves could give bonus for this year .
scrip may tuch 1000 shortly .

Indag Rubber Ltd .(buy)

Indag Rubber Ltd. (Indag) is a joint venture between the Sun Group
headed by Mr. Nand Khemka and Bandag Inc., US and is a leading
tyre retreading company in India.


Sun Group headed by Mr. Nand Khemka, has a large brewery
business in Russia. The group had also launched Sun F&C Mutual
Fund in India. The Group is also involved in various other businesses
in India and Russia which include Aviation, IT and Financial Services



share holding



Foreign Holdings 0.51

Govt. / Financial Institutions 0.04

Corporate Bodies(not covered above) 4.6

Directors and their Relatives 80.59

Other including Indian Public 14.26



earning 8 e.p.s for 2007. expecting e.p.s of 15 for fy 08



current market price 50

target price 75

Artson Engineering Ltd

ARTSON ENGINEERING LIMITED (AEL) was established in the year 1978 by three technocrats namely; Mr. N.K.Jagasia, Mr. P.S.Chopde and Mr. Kiran B.Kakatkar. All of them graduate engineers. Mr. Chopde & Mr Kakatkar have a post graduate degree in Business Management. Mr. N.K.Jagasia and Mr. P.S.Chopde were working with Hindustan Petroleum Corporation Limited in their refinery before promoting this company.

At the time of the establishment of the company, in 1978 the refineries had started using Bombay High Crude, which gave a waxy product called Low Sulphur Heavy Stock ( LSHS) , as residual fuel oil. LSHS has very high pour point. Artson did pioneering work and developed products and systems to convert the existing fuel firing systems of industry to make it suitable to use LSHS. AEL has successfully commissioned on turnkey basis more than hundred such fuel systems in the country. This led to AEL being one of the foremost companies in the country, specializing in petroleum storage and handling systems. This expertise was then expanded and

AEL executed overseas projects.
Artson went on developing its capabilities in multi disciplinary construction for the Hydrocarbon Process Industry and is one of the leading Design, Engineering, Procurement and Construction Companies with a sound manufacturing base.


MILESTONES


2005
Construction of Storage Tanks at Essar Oil Refinery, Jamnagar for M/s.Essar Projects Ltd. Fire Protection System for Product & Intermediate Tanks at Essar Oil Refinery, Jamnagar for M/s.Essar Projects Ltd.Construction of Tanks for Buhasa Oil Field Facility Development Project for M/s.Cylingas LLC., a local Company owned by ENOC.
2004
Construction of Tanks for Airport ATF Project at Dubai Airport Expansion Project for M/s.Cylingas LLC., a local Company owned by ENOC.
2003
Manpower supply for construction of Storage tank to Cylingas LLC.,Dubai for their EPPCO additional storage terminal at Fujairah Port, UAETechnical consultancy for Manpower supplyfor ESSAR OIL for their Retail Outlet
2002/2001
Contract. Design, Engineering, Supply and Construction of Floating Roof, Cone Roof and Cone Cum Floating Roof tank along with fire fighting system for CPCL –Manali, Chennai, Tamil Nadu Design, Engineering, Supply and Construction of Dome Roof Storage tank as per API 620 along with fire fighting system for ONGC,Uran Maharashtra
2000
Design, Engineering, Supply, Pre-Fabrication, Packing & Delivery of large storage tanks in CKD condition to FOB Mumbai for ALSTOM Power Plants Ltd., UK. For their power plant projects of HO-Ping Power at Taiwan.
1999
Design, Engineering, Supply & Construction of Petroleum Oil & Lubricant Depot (POL Depot) on turnkey basis including Civil, Mechanical, Electrical & Instrumentation Works for IBP CO. Ltd. at Sidhpur, North, Gujarat.
1998
Design, Engineering & Construction of main Crude Tanks of 65 M dia x 20 M ht– 6 Nos. for M/s Mangalore Refineries & Petrochemicals Ltd. along with Erection of Hydrogen Plant and Offsite Plant Utility Piping at Mangalore refinery Karnataka.
1997
Design, Engineering Procurement and Construction of FCCU Revamp EPC Project for HPCL in an running Refinery at Mahul, Mumbai.
1996
Planning, Designing, Constructing and Commissioning of Phospheric Acid terminal for Deepak Fertilizers & Petrochemicals Ltd. at JNPT Mumbai. Planning and Designing of LPG terminal at Porbandar for IMS Petrogas Mumbai. Planning , Designing and execution of Sea Lord Liquid Chemical Storage Terminal at Mumbai port.
1995
Establishment of full fledged design engineering group supported with CAD/CAM facility.Cryogenic Double Wall Tank Construction for LPG at Aegis Chemical Mumbai, two tanks of 10,000 MT capacity each at Mumbai Port.
1994
Tankage Contracts for Managalore and Panipat Refineries – Approx 20,000 Tonnes Steel Work.Cryogenic Double Wall Tank Construction for LPG at Kandla 15600 Tonnes Capacity.LPG – Equipment Division at Nasik to manufacture LPG Bottling Machinery, Bullets, Spheres and connected activities of Cryogenic Tanks Construction.Turnkey Contracts for POL Terminal for LPG/Petroleum/Chemicals at Ports.
1993
Overseas - Projects Executed.Refinery shutdown at Cyprus – supply of temporary technical services by deputing specialized personnel.BHEL – AL –ARISH,EGYPT, - Design, Engineering and supply of materials for fuel oil storage & handling system.Piping and Tankage job at Cyprus Refinery for Tata Exports Ltd.
1992
Erection / Welding of 4 Nos. WHRSG for 2 x 300 MW GT project for Alsthom at NTPC , Kawas.Tankage contract for Design/Construction of 36 M dia and smaller Floating Roof Tanks for Indo Burma Petroleum Maiden Public issue oversubscribed 9.5 times.Finolex – piping for Ethylene Terminal including jetty lines under Llyods Inspection.
1991
ONGC, Uran – C2/C3 piping for NKK, Japan
1990
Manufacturing and Erection of Waste Heat Steam Generators (Stork Design) alongwith piping in HDPE/LLDP plants, for Reliance Industries Ltd., Hazira.Setting up manufacturing facility at Nasik as back up for EPC projects. Tankage contract for Lube Expansion project for Madras Refineries Limited under supervision by Engineers India Limited.
1989
Successfully utilized Hydraulic Jacking System in construction of Large Diameter Tanks.Major Heat Tracing job for Steel Plant in South India.Major Port Terminal facilities including Jetty Piping for Ports.
1988
Xylene Expansion Project of IPCL under Supervision by Engineers India Limited in an operating Petrochemicals unit. Construction Contract for Floating Roof Tanks for Alsthom Export.
1986
Development of various products like floating Suction Assemblies, Finned Tube Floor Heating Catridge Heaters, Outflow & Immersion Electric Heaters.Tie up with Chromolox Emersion Electric of USA for using their Electrical heat Tracing Products.
1984
Creation of Construction Division to undertake construction contracts in Piping Equipment Erection , Tankage etc.
1983
AEL’s stresses on Quality Control, Safety, Timely Execution of the Project. AEL Design Engineering and fabrication is carried out to International standards such as :
ASME, API,ANSI, BS,NFPA,I.S.
1978
AEL carried out jobs under National & International Third Party Inspection Agencies such as
Bureau Veritas, Engineers India Ltd., Llyods India, Kevrner Power Gas, Uhde India Ltd., Humphrey & Glasgow, Development Consultants India Ltd., Project Development Indian Ltd., Tata Consulting Ltd. etc.
Artson has in house resources of staff, machinery, workforce including qualified welders to handle large magnitude orders.

SMART BUYS FOR THIS MONTH

T.RF. 1250 1317 1383 1442 1480 1500 1787 2000

INDAG RUBBER 50 TARGET 75


INDSIL ELECTRO SMELT (61) TARGET 100


AVANTEL SOFT (60) FOR TARGET OF 150 IN 2 MONTHS

TECHNICAL LEVELS 51 56.50 61.05 64.85 65.75 71.8 80 89 94.5 99 102.7 .103. 5
109.8-117.90 141.4 179 202 240

close eye stocks

1.Radha Madhav Corporation Ltd BUY
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RMCL is a techno-driven company with state of the art facilities for production. Company has thrived on its technological edge and its extensive research and development. Activities of RMCL can be divided into two areas; Primary Packaging and Secondary Packaging. Primary Packaging is again divided into Flexible division and Folded Carton division while secondary packaging includes products like liners, specialty thermoformable films, cartons and various profiles for varied applications.

With in house manufacturing of barrier cast and blown films, metallization arrangements, lamination, gravure coating, extrusion coating, and good printing facility; RMCL presently manufactures surface printed barrier films, metallized films, laminates, wrappers, overwrap films and lamination films of varied types. It also manufactures multi colored printed mono cartons of very high quality.

RMCL also commands a leader’s position in secondary packaging with a product portfolio of stretch cast films, BOPP tapes, masking film, soft blister films, commodity liners of various materials like PE, PVC and PP.

RMCL has acquired the existing three firms’ viz. Mayura Industries, Radha Madhav Industries, Metro Polyprints and further increase the capacities in the manufacturing of three layered blown films, printing of films, printing mono cartons and cast films. New products like five layered films with nylon and EVOH, high end flexo printed materials, laminated pouches and rolls, coated materials will be added.

Mayura Industries is involved in manufacturing of barrier multilayer blown films, multilayered blown films used in packing liquids, food and for lamination with other substrates like polyester and BOPP. This firm has been catering to converting industry. Recently company has acquired offset printing machines made in Germany and Switzerland to manufacture multicolored printed mono cartons.

Metro Polyprints is manufacturing cast films used as barrier film, or films for printing. Stretch films, films for soft blistering and other over wrap films are produced by the firm. Metro also produces polypropylene bags and liners. Radha Madhav Industries is involved in manufacturing of paper cores, cones, and tubes for POY, DTY and textile, multicolor printed stationary and polypropylene bags.


CLIENTS:- a Reliance Industries Ltd.a Bratiania Industries Ltd.a Hindustan Levera Crompton Greves Ltd,a Hindustan Petroleuma State Bank of Indiaa Hindalco Industriesa Bank of Barodaa Parle Productsa Birla White Cementa Jyothy Laboratoriesa Gujrat State Electricity Boarda Heinz India Ltd.a Garden Silks Millsa Cello Groupa Somani Tilesa SKF Bearings Ltd.a Mahananda Dairya Coca Colaa Micro inksa Rupa Garments

2.Refex Refrigerants (buy)

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Refex Refrigerants is a specialist refiller and distributor of Refrigerant gases in India particularly, environmentally acceptable gases that are replacements for chloro-fluoro-carbons (CFC's). These Refex Refills Refrigerants are used primarily as refrigerants, foam blowing agents and aerosol propellants.
RRL exercise superior quality control and efficiency with the aid of sophisticated and novel computer technology. Refex is committed to the responsible treatment of both human beings and the environment: the standards it upholds-governing quality, environmental protection, and product and workplace safety are documented in guidelines for the various business segments and form an integral part of the Group's corporate strategy.
Refex is committed to being an exemplary player in terms of safety, protection of health and the environment, and sustainable development. The Group's policy is underpinned by strong values shared across the Company: spirit of initiative, commitment to progress, professionalism, solidarity, openness, and dialogue.
For a number of years, Refex has been committed to a continuous improvement approach concerning safety and the protection of health and the environment, with three paramount objectives.
Refex Refrigerants sees FY08 net above Rs 15cr on equity of 11.4cr
fy08 eps could be 13.5 c.m.p of 67 r.s works out just 5.p.e only

SMART BUYS

VJIL CONSULTING:-

it has 5 acares land at hyderabad beside microsoft .valued at 200 cr . and only equity of 6.5cr

Artson Engineering :- (strong buy) target 100 in six months time
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the Company has finalized arrangements with M/s. Tata Projects Ltd for Strategic Majority Stake subject to Approval of BIFR.

the company focused on oil and gas sector the company is set to post a strong turnaround in the current year . the company is expected to wipe out all accumlated losses in the current year
the company and tata projects are already bidding together for contract worth 300 cr.

The Company has a Healthy Order booking & current Operating Results are positive.
the Company is executing Contracts for Essar Projects, Reliance Refinery at Jamnagar, Reliance at Chennai & an Export Order for M/s. HEISCO at Kuwait.

The Order Book Position is about Rs 50 Crores. Further, Four Tenders - 2 in UAE & 2 in India of over total Rs 400 Crores in partnership with a major Indian Project Engineering Company are in negotiations where
the Company's Share is expected to be over 100 Crores on materialization of the same.


e.p.s is expected for year endindg september 2007. ---- 7 r.s