Uni Abex Alloy Products Ltd. produces static, centrifugal castings and assemblies in heat and corrosion resistant alloys. Manufacturing quality alloy products is its prime focus. As a leader in alloy steel castings, Uni Abex has made a significant contribution to various industries in the last three decades.
| PIONEERING ACHIEVEMENTS | ||||||||||||||||||||||||||
|
Product range | ||||||||
| Refinery, Petrochemical & Fertilizer industry |
| Sponge Iron industry |
| Decanter Manufacturers | |||
| Reformer tubes/ Catalyst tubes Harp Assemblies Hot Collectors/ Headers | Air Injection Tubes Feed Tubes Heat Protection Tubes | Bowl Cylinders Bowl Cones Conveyor Cylinders Hubs | ||||||
| Iron & Steel industry |
| Galvanizing Plants |
| Metal Gasket Manufacturers | |||
| Glendon Coils ROT Rolls Normalizing Furnace Rolls | Sink Rolls Stabilizer Rolls Entry Seal Roll | Ring Segments | ||||||
| Furnace Manufacturers |
| Valve Manufacturers | |||||
| Radiant Tubes / Hearth Rollers Water Cooled Rolls | Cages / Seat Rings / Balls | |||||||
RESULTS :- RS IN CR
| NET | March 2009 | December 2008 | September 2008 |
|---|
| Sales | 19.13 | 13.87 | 15.38 | |
|---|---|---|---|---|
Profit | 4.53 | 2.23 | 2.48 |
| Financial Snapshot (Rs.in millions) | |
| Mkt. Cap | 275.91 |
| P/E * | 3.92 |
| Div | 0.00 |
| EPS (TTM) * | 35.63 |
| Book Value | 105.76 |
| Debt Equity Ratio | 0.90 |
| Return On Networth | 26.55 |
| Current Ratio | 2.35 |
| Quick Ratio | 1.26 |
* Calculated on adjusted profit after extra-ordinary items
JOINT VENTURE WITH MANOR INDUSTRIES, FRANCE
Our Company along with Neterwala Group of Companies has formed a Joint
Venture Company (JVC) with Manoir Industries SAS, France in respect of
marketing and manufacture of reformer tubes and allied products
business for the petrochemical industries. The new Company to be named
"Manoir Petro India Ltd." will be a 60:40 JVC between Manoir Industries
and Uni Abex Alloy Products Ltd. / Neterwala Group of Companies. Our
Company will hold 20% shares in the New JV Company and the remaining
20% will be held by Neterwala Group of Companies.
Manoir Industries, France is a manufacturing company with a broad
capability in specific sectors of Chemical, Petrochemical and Refinery
markets and operates 6 foundries and 5 forging plants throughout the
world. They are the second largest producers of radiant tubes, midrex
tubes, reformer tubes, steam cracking coils and reformers for large gas
producers in the world and currently do business worth about Rs. 30
Crores in India with year on year growth. With 10 manufacturing
facilities (8 in France, 1 in Belgium 1 in UK) and joint ventures in
China and now India, they employ over 3,000 personnel and produce more
than 6000 metric tonnes per annum of centrifugally cast tubes and
static cast components in heat- resistant alloys and is worlds largest
supplier of furnace components to petrochemical, refineries,
fertilizer, direct iron reduction and galvanizing industries. The
Company should benefit considerably through this association in the
coming years.
Main highlights of the JV are:
1. Uni Abex has entered Into a commercial rights agreement where by
Unl Abex will receive a lumpsum amount from Manoir of 425,000 Euros.
2. In Phase-I extending over a period of three years, Unl Abex will
get guaranteed volume of orders for reformer tubes and allied products
business for the petrochemical industries failing which proportionate
margins have also been guaranteed. During this initial stage, JVC will
market Reformer Tubes and allied products and our company will receive
orders placed by JVC and Manoir (France).
3. In Phase-ll which should commence within a period of three years,
JVC will set its own fabrication shop with advanced technology and know
how of Manoir and purchase cast tubes from Uni Abex.
4. In Phase-Ill after successful implementation of Phase-ll resulting
in reasonable profitability and positive cash flow, JVC will set up a
full fledged Casting facility. At this stage Uni Abex would no longer
produce components / castings in competition with the JVC.
Given the fact that in the past two years, Uni Abex cumulative business
in the Petrochemical segment field was a paltry sum of Rs. 5.68 crores,
it was felt that Uni Abex would have much to gain in forming the JV
with Manor, the world leader in cast parts for the Petrochemical
Industry
note : it has small equity so don't buy for speculation buy for long term investment.
No comments:
Post a Comment