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| 1/13/2012 12:40 PM Friday

TULSI EXTRUSIONS

I have 1000 shares of Tulsi Extrusions purchased at Rs 25 per share. Please advise as to whether I should hold or sell these.
-R Raj, Kottayam, Kerala

Tulsi Extrusions, BSE/NSE Code 532948/TULSI, with a face value of Rs 10, is currently trading at Rs 9.35. This is at a 62 per cent discount to your acquisition cost. Its 52-week high/low are Rs 28 and Rs 8 respectively.

Tulsi Extrusions engages in the manufacture and sale of plastic pipes in India. The company provides a range of pipes, including those for sprinkler irrigation systems, nano drip irrigation systems, CPVC pipes and fittings, polyvinyl chloride (PVC) pipes, PVC casings and screen pipes, among others. It also offers fittings such as inline drippers, PVC fabricated fittings, PVC moulded fittings and SWR fittings. In addition, the company is also involved in the trade of construction input items such as tore steel, MS angles, MS channels, MS plates and cement.

On the financial front, its performance for H1 FY12 has been quite mixed. The topline witnessed a growth of 29 per cent on a YoY basis, and stands at Rs 78 crore for H1 FY12 as against Rs 60 crore for H1 FY11. The bottomline has witnessed degrowth of 32 per cent on a YoY basis, and stands at Rs 2.62 crore for H1 FY12 as against Rs 3.88 crore for H1 FY11. Another worrying factor is that there has been a steep jump in the interest costs for H1 FY12 by nearly 42 per cent on a YoY basis.On the valuations front, the stock discounts its trailing 12-month earnings by 33x. This is much higher as compared to its peers in the listed space, which trade at a single digit PE. The EV/EBITDA stands at 5.66x. The stock looks on the expensive side, and therefore, we suggest that you exit the counter even if you have to book losses.

HYDERABAD INDUSTRIES


I have 35 shares of Hyderabad Industries purchased at the rate of Rs 400 per share. Please suggest what I should do.
-T Bhatt, Via Email

Hyderabad Industries, BSE/NSE Code 509675/HYDRBADIND, with a face value of Rs 10, is currently trading at Rs 297.40, at a 26 per cent discount to your acquisition cost. Its 52-week high/low stand at Rs 516 and Rs 255 respectively.

 

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