Haldyn Glass Limited Ltd:

Haldyn Glass Limited based at Mumbai started thinking glass in the year 1964 under the able leadership of Mr. Narendra D.Shetty. Haldyn had started the operations with a 2.5 TPD (Tons Per Day ) furnace and grew to 145 TPD with two furnaces in operation to manufacture Sodalime Amber and Clear Glass containers / bottles. The business acumen and leadership of the promoters led to the introduction of modern technology for high precision manufacturing on sophisticated IS machines, replacing the semi-automatic and 3/4th automatic bottle forming machines. The company’s products have the following qualities: • Natural • Immediately Recognised. • Long Shelf Life • Loading of container shape • Recyclable • Will not affect the smell and taste of filled product • High chemical resistance USE: 1. Liquor manufacturing industry use these bottles with capacities ranging from 60ml to 1000ml in various shapes and sizes for packaging Whisky, Gin, Brandy, Vodka and other liquor products. 2. Cosmetics industry use these clear bottles for packaging products like nail-polish, perfumes, hair oil and toiletries that look vibrant in different colours. 3. Food and Beverages industry uses these bottles to package consumable products. The clear transperancy of the Bottles gives shelf appeal to the products. 4. Pharmaceutical industry use these Clear glass Vials of various shapes and sizes to package injectibles, eye-drops, ear-drops and other life saving drugs.. Since all these industries are in the boom phase and hence the company is expected to show good growth in the days to come. Besides the fall in Soda Ash prices will help it trim down the cost of production. With the cost of energy coming down, this will also help the company to show good growth both in topline and bottomline. Specialty and Production process: The production facilities cater to Indian and International customers according to their required specifications. Of the two furnaces, the capacity of one furnace was enhanced to 80 TPD with four production lines to manufacture Sodalime Amber Glass containers / bottles that are being supplied to various Pharmaceuticals, Chemicals, Liquor, Beverages, Beer & other Industries. The other furnace has been redesigned with a capacity of 25 TPD with three production lines to manufacture Borosilicate USP Type-I glass Vials in both Clear & Amber and also USP Type-III Clear glass Vials and bottles for Nail Polish, Cosmetics, Toiletries, Hair Oil & others. This furnace was successfully commissioned on July,10th 2000. The know-how employed in the manufacture includes State–Of–The–Art technology from F.I.C. (U.K.) and Zippe Industriangen(Germany) for Automatic Temperature control of forehearths and glass level controller for better process control resulting in production of superior quality glass containers. The three production lines employ Quadruple, Triple and Double Gob IS machines. Subsequently the capacities of production factilites have been increased and more than doubled than the earlier installed capacities. Financials: For the quarter ended 30th June, 2006, the company came up with an Excellent set of numbers. The net proft zoomed to Rs.1.48 Cr against Rs.1.43 Cr in the same quarter previous year. This gave an EPS of Rs.2.76 [ Rs.2.62]. The expected EPS for FY-06-07 will be around Rs.9—Rs.12. These performance of the company were at times when both Soda Ash and Engergy prices were high. Now with both of them coming down the company is expected to show good growth of both topline and bottomline. The company has robust order book postion and this will increase as the company recently has revamped its operations. Its clients are the who’s who of the industry: Client list includes: McDowells & Co. Shaw Wallace & Co.,Bajaj Sevashram Reckitt & Colman Raptakos Brett & Co. Parke Davis Alkem Laboratories Hindustan Antibiotics Tablets India Camlin Ltd. Glaxo India Pfizer Ltd. Parke Davis Hoechst Marion Roussel Smithkline Beechem Cadila Health Care Ranbaxy Fine Chemicals Raptakos Brett & Co. Wyeth Lederle Novartis India, etc. Its products are exported to: U.A.E Oman Jordan Tanzania Uganda Nigeria Sri Lanka Nepal New Zealand Bahrain Saudi Arabia Syria Keniya Ethiopia Singapore Indonesia Bangla Desh Burma and so on..... It has full fledged in-house design facilities which have churned out over 500 different shapes and sizes of glass containers for various industries The company manufacture glass containers as per specifications laid down by the customers and deliver goods on time. The ISO-9002 certification and rigid quality standards gives the product desired market acceptability. Hence looking from all angles this is a clear buy at this price with a price target of Rs.90—Rs.120 in 12 to 18 months time. Note: Please exit United Western Bank Ltd [BSE Code-->50430] before your investments in it turn into junk. There is nothing left in this company and that relief package which the governement is talking about might be an eye wash and hence may come or may not come. The same thing, as happened to Global Trust Bank Ltd will happen to this bank also. So, take whatever u get out of the bank. The net worth of the bank has turned negative and the SHAREHOLDERS ARE EXPECTED TO GET ZERO BENEFIT EVEN IF ICICI Bank takes control of it. This has turned into a junk stock and hence exit immediately and invest the money in some other counters, where there is earning visibility and the chance of earning is much hassle free. More in the following postings... Best wishes, Suman Mukherjee India.