Don’t Miss Opportunity - FAG Bearings India Ltd, BSE Code - 505790

02/08/2017 10:57:25
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Q: Is it worth to buy FAG Bearings India Ltd (BSE Code: 505790; Price: Rs 4,495) at this price? Please guide us.

FAG Bearings India Ltd along with INA Bearings India Pvt Ltd and Luk India formed part of Schaeffler Group in 2002. Considering the combined production capacity of FAG and INA, they occupy second place in the world’s rolling bearings industry. Its name has changed to Schaeffler India Ltd from FAG Bearings India Ltd with effect from 17-07-2017.

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The combined sales of FAG and INA put the duo in the 2nd place in the international market. FAG Bearings India Ltd, now Schaeffler India Ltd, has its manufacturing unit at Vadodara. It is this plant that supplies bearings to multinational companies like Daimler, Chrysler, Volvo, Volkswagen, Wyatt, Otis, General Dynamics.

The net profit which was Rs 152.88 crore in 2014 calendar year would increase to Rs 197.48 crore in 2015.  Though it reported a slightly lower net profit at Rs 194 crore for 2016, in the first half of the current calendar year the company already earned an attractive net profit of Rs 112 crore.

The German parent company is controlling 51.33% of the minuscule equity of Rs 16.91 crore. it has declared 120% dividend that is equal to Rs 12 per share of Rs 10 (FV). This Rs 10 share, now quoting at around Rs 4,650. It is the best opportunity for long-term investors to accumulate.

 

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