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|
|
| Company |
Ador Powertron |
| Market Price |
Not listed |
| Lead manager |
Brescon Corporate Advisors |
| Listing At |
BSE, Pune
|
| Opening/Closing |
Fixed Price: January 29/February 2 |
| Promoters |
Advani Oerlikon
|
| Associate Co. |
Trans Electronics, Ador Technologies, Ador Finance Limited, J B Advani & Co., Ador Fontech, Ador Technopak, Ador Multiproducts |
| Chairman |
Ajit Tolaram Mirchandani
|
| Post-issue Stake |
53%
|
| Issue |
|
| Size |
Rs 39.8 million
|
| Price |
Rs 10
|
| On Application |
Rs 10 |
| On Allotment |
— |
| Objective |
Enhancing the present infrastructure and facilities, purchasing new machinery |
| Business |
|
| Present |
Industrial and power electronic products such as High voltage rectifiers, Battery charger and formation rectifiers, High Current Rectifier, DC Drives, Battery monitoring Equipment, Switch mode power supply, Alternators and Uninterruptible power Supplies.
|
| Proposed Project
|
Renovation of Building and facilities, Hardware and Software including engineering software, Sourcing of Technical know-how and working capital augmentation.
|
| Location |
Pune
|
| Project cost |
Rs 44 Million
|
| Funded by |
Equity, internal accruals
|
| Kensource projections |
(2001) |
| Sales |
Rs 240 million |
| Profit |
Rs 27 million
|
| Earnings per share |
Rs 2.92
|
| Forward P/E |
4 |
| Post-issue equity |
Rs 100 million
|
| Return on net worth |
21%
|
| Comment |
All group companies, including the promoter company, are doing badly. Falling import tariffs and GATT will expose it to punishing competition, definetly not a growth sector
|
| Rating *
|
D
|
* A=Subscribe & Hold; B = Subscribe & Watch; C=Subscribe & Sell; D = Avoid; E = Buy post-listing
By Kensource Information Services Pvt Ltd.
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