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Monday, June 01, 2009

Gujarat Ambuja Exports: BSE: GAEL : Deep Value

Gujarat Ambuja Exports:

BSE Symbol: GAEL

NSE Symbol: GAEL

CMP: 28.70 Market Cap: 397.76Cr (3977.6 million) Sales TTM = 1631.53Cr (16315.3million)

Gujarat Ambuja Exports is an agro processing company producing value added products for export.

- Company has recently (March 27,2008) set up a 500 tonne per day (364x 500 = 182,000 tonnes per annum) maize processing plant. The processing plant is going to produce value added products such as Sorbitol, Dextrose, Starch, Liquid glucose, Malto dextrine. 2nd largest capacity in India.

- GAEL initiated a buyback of shares at Rs 38 per share and bought back 966,615 shares till Jan 15,2008.
- Company has forex hedging losses in its books worth 32.7Cr as of march 2009.
- Company shares are of face value Rs 2 and divident payout is going to be40% ie 80paisa per share.
- 5.63 % shares (7,791,034) held by Quantum M Ltd as per March 2009.
- 4.25% shares (5,877,060) held by Reliance Growth fund as per March 2009.

GAEL is worth investing at these prices and one can expect a price of about 80 to 100 in 12 to 24 months time frame.