Kemrock Industries & Exports Ltd.(KIEL) is looking bullish these days and we recommend to buy it for price target of 570 at current level.
KIEL is a fully integrated global leader in the manufacture of Fibre Reinforced Composite Materials. KIEL manufactures and exports FRP/GRP (Composite) Products for major industrial sectors such as aerospace, defense, renewable energy, wind energy, railways, chemical processing, oil and gas, water and waste water management, infrastructure, construction, electrical and electronics, marine, telecommunications.
Kemrock Industries & Exports Ltd. has reported net profit of Rs 154.94 million for the quarter ended on September 30, 2011 as against Rs 137.62 million in the same quarter last year, an increase of 12.59%. It has reported net sales of Rs 2377.17 million for the quarter ended on September 30, 2011 as against Rs 1692.70 million in the same quarter last year, a rise of 40.44%. Total income grew by 41.73% to Rs.2404.02 million from Rs.1696.23 million in the same quarter last year. During the quarter, it reported earnings of Rs 8.88 a share.
We expect that the company will keep its growth story in the coming quarters also. We recommend 'BUY' in this particular scrip with a target price of Rs 570 for medium term investment.
KIEL is a fully integrated global leader in the manufacture of Fibre Reinforced Composite Materials. KIEL manufactures and exports FRP/GRP (Composite) Products for major industrial sectors such as aerospace, defense, renewable energy, wind energy, railways, chemical processing, oil and gas, water and waste water management, infrastructure, construction, electrical and electronics, marine, telecommunications.
Kemrock Industries & Exports Ltd. has reported net profit of Rs 154.94 million for the quarter ended on September 30, 2011 as against Rs 137.62 million in the same quarter last year, an increase of 12.59%. It has reported net sales of Rs 2377.17 million for the quarter ended on September 30, 2011 as against Rs 1692.70 million in the same quarter last year, a rise of 40.44%. Total income grew by 41.73% to Rs.2404.02 million from Rs.1696.23 million in the same quarter last year. During the quarter, it reported earnings of Rs 8.88 a share.
We expect that the company will keep its growth story in the coming quarters also. We recommend 'BUY' in this particular scrip with a target price of Rs 570 for medium term investment.
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