Singer India is 136 year old company and its Singer brand a house-hold name in more than 75 countries around the globe.Sir Issac Merrit Singer formed IM Singer & Co. in 1851 with borrowed capital of US $ 40 in New York.Singer made an entry into the Indian sub-continent as early as 1871 when it established its office in Mumbai. Singer and sewing were to soon become synonymous. Now, 136 years later Singer is not only a leading player in sewing machines but has also expanded its product range to become committed to meet all the requirements of any Indian household. Singer now sells a large number of small domestic appliances as well as Food Processors, Electric Irons etc.,
Recently, its earlier MD Mr. KK Gupta who had taken up an assignment at Chambal Fertiliser during late 1999 has come back to Singer India as its VC. KK Gupta has done exceedingly well at Chambal Fertiliser and I have a great regard for his leadership qualities.He has great plans to take the SINGER brand forward.Presently Co’s Financials are nothing to write home about ,but the latest valuations of its brand in India reveals that only the brand SINGER is worth a few times its market capitalisation of Rs. 17 crores. Turn-around in Co’s performance is expected in the next few years.
Buy is recommended at Rs. 11 with one year HOLD
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