Equity Watch, Market Trends

Conart Engineers, a clean debt free company is a potential take-over target

Conart Engineers is an ISO 9000 / 9001 certified detailed engg., procurement and construction company with specialisation in Industrial / commercial/residential/roads and bridges.Company has a proven record of successful project completion, with several awards and recognitions.Company was awarded ACCE L&T Endowment Award for excellence in construction.NICMAR-200 has listed the company as one of India’s fastest growing companies in construction division. This will enable the company to maintain existing clientel and secure new ones. Present order position is close to Rs. 30 crores while Company’s market cap. is barely Rs. 6 crores.Order book is likely to touch Rs. 50 crores  in FY11.

On the Financial front, Company is doing pretty well. The top line has gone up by 50 % during the last 2 quarters , the bottom line is also up..

But that’s not the reason to buy the shares of Conart Engrs.The main reason is that the promoters are willing to sell the company provided a good price ,above Rs. 56 is paid .

Buy with one year HOLD..

Scrip Code : 522231      Company : CONART ENGINEERS LTD.-$
Type Un-Audited Un-Audited Audited Un-Audited Un-Audited Audited
Period Ending 30-Sep-10 30-Jun-10 31-Mar-10 31-Dec-09 30-Sep-09 31-Mar-10
No. of Months 3 3 3 3 3 12
Description Amount(Rs. million)
Net Sales / Interest Earned / Operating Income 100.51 98.08 74.96 69.39 48.29 269.29
Other Income 2.17 1.37 1.94 -0.33 3.10 5.05
Expenditure -96.06 -90.49 -69.53 -62.11 -45.57 -245.36
Interest -0.49 -0.58 -0.33 -0.23 -0.23 -1.01
Profit Before Depreciation and Tax 6.13 8.38 7.04 6.72 5.59 27.97
Depreciation -1.19 -1.14 -1.05 -0.82 -0.81 -3.48
Profit before Tax 4.93 7.24 5.99 5.91 4.78 24.49
Tax -1.21 -2.30 -1.71 -1.91 -0.79 -7.83
Net Profit 3.72 4.95 4.28 4.00 3.99 16.65
Equity Capital 30.00 30.00 30.00 30.00 30.00 30.00
Basic And Diluted EPS after Extraordinary item 1.24 1.65 1.43 1.33 1.33 5.55
Basic EPS after Extraordinary items
Nos. of Shares – Public 1,804,715.00 1,807,765.00 1,807,565.00 1,806,715.00 1,804,715.00 1,807,565.00
Percent of Shares-Public 60.16 60.26 60.25 60.22 60.16 60.25
Operating Profit Margin 6.59 9.14 9.83 10.02 12.05 10.76
Net Profit Margin 3.70 5.05 5.71 5.76 8.26 6.18
Cash EPS 1.64 2.03 1.78 1.61 1.60 6.71
Notes Notes Notes Notes Notes Notes
Detailed Detailed Detailed Detailed Detailed Detailed

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This report has been prepared solely for information purposes and the information contained herein may not be deemed to be an investment advice. Such information is impersonal and not tailored to the investment needs of any specific person. The information contained herein is not a complete analysis of every material fact representing any company, industry or security. The views expressed may change. While the information contained herein has been obtained from sources believed to be reliable, no responsibility (or liability) is accepted for the accuracy of its contents. Investors are advised to satisfy themselves before making any investments and should consult with and rely upon their own advisors whether and how to use such information in making any investment decision. Neither the author nor his firm accepts any liability arising out of use of the above information

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