A Prize Catch | Foseco India Ltd | Investing | Stocks and Shares | Dividend Stocks

04/03/2018 20:52:17
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This company makes consumables for the foundry industry.  Established in 1932 as Foundry Services Company, it changed its name to Foseco India Ltd; where Foseco is the abbreviated form of its old name. In 2012, world-renowned Vesuvius PLC Group had taken over Foseco India. The parent company has its manufacturing facilities in 32 countries. Its Indian subsidiary, Pune based, Foseco produces about 400 kinds of resins, coatings, and metal treatment products. The company adopted the calendar year as its accounting year.

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In the fourth quarter ended December 31, 2017, Foseco India earned Rs 7.07 crore, which was nearly equal to Rs 7.03 crore in the year-ago period.

In the calendar financial year or accounting year 2017, it recorded Rs 31.31 crore Net Profit as against Rs 33 crore in the previous calendar financial year.  The company emerged as debt-free after paying back the long-term loans that amount to Rs 64.53 crore. The net worth of the firm increased to Rs 145.65 crore from Rs 124.32 crore in a one-year period. The parent group maintains its stake of 74.98% in the minuscule equity capital of Rs 6.39 crore. The company paid a total interim dividend of Rs 13 per share  (Rs 6.00 in August 2017 and  Rs 7.00 in November 2017). Apart from this, it recently declared a final dividend of Rs 12.00 for 2017. Thus the Dividend for FY2017 will be Rs 25.00 per share of Rs 10 face value.

While China has a 44% share of the worldwide production capacity for castings, US and India jointly hold 20% share. 

With a production of 10.77 million tons of castings, India has ascended the second place, up three steps, from the fifth place. The Indian foundry industry is registering a 7.5% yearly growth rate. The stock witnessed a 52-week high of Rs 2,336 and low of Rs 1282, and now it is changing hands at around Rs 1600, nearer to the low, between the two extremes. Since the steel boom is progressing fantastically, the stock of Foseco India is truly a prize catch.

BSE Code: 500150

Face Value: Rs 10.00

Market Price: Rs 1620/-   (As on 01 Mar 18 | 16:00)

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