Sunflag Iron and Steel Company Limited is primarily engaged in the iron and steel business. The products manufactured by the company include flats, rounds and round cornered squares. Sunflag Iron and Steel company’s subsidiaries include Sunflag Power Limited and Sunflag Special Steels Limited.
Sunflag Iron and Steel company' net profit surged 120% to Rs 94.91 crore in FY09-10 against 43.13 crore in FY08-09 on 22.4% increase in net sales to Rs 1349.63 crore in FY 09-10 against 1102.47 crore in FY08-09. The current price of Rs 29.40 discounts the company's FY 09-10 EPS of Rs 5.85, by a PE multiple of just 5.02.
Technically, the stock looks strong on charts. The scrip is currently trading near its 50 day EMA. Scrip has very strong support at 27, which is its 200 day EMA. Scrip is strong above 32 and likely to cross 45 once it closes above 36 (major resistance).
The company is likely to be benefited from strong domestic growth. There is regular promoter buying & promoter holding has gone up in last 6 qtrs. The company's performance is improving every year.
Company's debt-equity ratio is 0.95 (less than 1), Dividend yield is 1.75% (very high), Market Cap/Sales ratio is just 0.36. Scrip is currently trading near its Book Value (BV), which is 26.09. Valuation of the company looks extremely attractive. The stock is a safe bet for getting steady returns in long run.
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Sunflag Iron and Steel company' net profit surged 120% to Rs 94.91 crore in FY09-10 against 43.13 crore in FY08-09 on 22.4% increase in net sales to Rs 1349.63 crore in FY 09-10 against 1102.47 crore in FY08-09. The current price of Rs 29.40 discounts the company's FY 09-10 EPS of Rs 5.85, by a PE multiple of just 5.02.
Technically, the stock looks strong on charts. The scrip is currently trading near its 50 day EMA. Scrip has very strong support at 27, which is its 200 day EMA. Scrip is strong above 32 and likely to cross 45 once it closes above 36 (major resistance).
The company is likely to be benefited from strong domestic growth. There is regular promoter buying & promoter holding has gone up in last 6 qtrs. The company's performance is improving every year.
Company's debt-equity ratio is 0.95 (less than 1), Dividend yield is 1.75% (very high), Market Cap/Sales ratio is just 0.36. Scrip is currently trading near its Book Value (BV), which is 26.09. Valuation of the company looks extremely attractive. The stock is a safe bet for getting steady returns in long run.
Thanks for visiting my Blog. Stay tuned for more updates.
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