Sicagen India Ltd--Poised for instant growth...

BSE Code: 533014

CMP- Rs.9.78

52--week High/Low: Rs.200/Rs.2.81

Book value: Rs.89.54

Market Cap: Rs.34.74 Cr

Sent to me by my well-wisher, Rizal Ahmed, Quatar (Middle East) which was the edited by me.........

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Sicagen is India's leading providerof trading and marketing services for construction-related industrial and retail infrastructure. Sicagen's core business is trading of building materials such as steel tubes, MS/GI pipes, boiler tubes, seamless tubes, rectangular/square hollow sections, TMT steel rebars, PVC pipes, electrical cables, steel fittings and cement. Sicagen is the authorized distributor for Tata Steel, Jindal Pipes, SAIL, Finolex Cables, Supreme Industries, Maharashtra Seamless and ACC Cements.

Sicagen is also the leading dealer of commercial vehicles for Tata Motors in Tamil Nadu state. It operates showrooms and and workshops at Chennai and Trichy covering 11 districts in Tamil Nadu. It's customers include corporates, retail vendors, high income individuals.

The above two mentioned businesses are the core businesses and contribute more than 90% to the company's revenue. They're the sole agents in India for Woodward USA Governers, the no.1 worldwide in this area. It has huge applications in power, heavy industries,engineering.

(c) The company has exited the Speciality Chemicals business

It also sold of 10 wind mills in Oct'08 as the operating and maintenance cost was high, on account of wind mills being decade old.

The business was with Sical Logistics Ltd but became a separate entity in 2006 and then got listed post demerger in 2008. It got listed in BSE around Rs.200 and NSE at Rs.149.70

Let's come to the more interesting facts about the company :

1. The company can be a true value play with its current MCAP at Rs.34.74 Cr. The company has about Rs.10 Cr in cash and about Rs.280 Cr as Net current assets.

2. Even if one values the inventory at 50% of the value mentioned in the books, then Net current assets stand at Rs.255 Cr.

3. The book value of the shares of the company is Rs.89.54, which makes it a value play at the current price tag. The price to book is only 0.1 which makes it one of the cheapest stocks in this space.

4. The company is expected to do well going forward due to overall improving environment.

5. In the coming years, the company plans to introduce large retail formats with a more comprehensive range of building materials products. The Indian retail market for construction materials holds great potential and it is expected that such new venture will be able to delight customers with best-in-class products and services.