Hindoostan Mills Ltd:-Buy/sell/:multibagger

Scripscan:Hindoostan Mills Ltd

Code:509895

cmp:330

Story:This is probably one of the oldest spinning and weaving mills inIndia. Incorporated way back in 1873, even 138 years on, it has managed to keep up with the times and that too, while making profits. The textile mill, with facilities in Karad,Maharashtra, for Q1FY12, posted a topline of Rs.22 crore, which YoY was a jump of over 15 times. Thus one would have expected the company to end the first quarter with a bumper profit but no such luck; it ended with a net profit of Rs.56 lakh, which was 14% higher on a YoY. The robust topline did not get translated into an equally robust bottomline on account of raw material costs, which was up 20 times at Rs.16 crore.The company’s equity is small at Rs.1.66 crore and it is sitting on a huge reserves of Rs.93 crore as at 31st March 2011. The Rs.10 face value stock, has an EPS of Rs.3.37 for the quarter, which on an annualised stands at Rs.13.49.Promoters hold 50.77% stake.

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