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Home > Money > Stocks > IPO Center > IPO Analysis
January 29, 2001
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 Company  Ador Powertron
 Market Price  Not listed
 Lead manager  Brescon Corporate Advisors
 Listing At  BSE, Pune
 Opening/Closing  Fixed Price: January 29/February 2
 Promoters  Advani Oerlikon
 Associate Co.  Trans Electronics, Ador Technologies, Ador Finance Limited, J B Advani & Co., Ador Fontech, Ador Technopak, Ador Multiproducts
 Chairman  Ajit Tolaram Mirchandani
 Post-issue Stake  53%
 Issue  
 Size  Rs 39.8 million
 Price  Rs 10
 On Application  Rs 10
 On Allotment  —
 Objective  Enhancing the present infrastructure and facilities, purchasing new machinery
 Business  
 Present  Industrial and power electronic products such as High voltage rectifiers, Battery charger and formation rectifiers, High Current Rectifier, DC Drives, Battery monitoring Equipment, Switch mode power supply, Alternators and Uninterruptible power Supplies.
 Proposed Project  Renovation of Building and facilities, Hardware and Software including engineering software, Sourcing of Technical know-how and working capital augmentation.
 Location  Pune
 Project cost  Rs 44 Million
 Funded by  Equity, internal accruals
 Kensource projections  (2001)
 Sales  Rs 240 million
 Profit  Rs 27 million
 Earnings per share  Rs 2.92
 Forward P/E  4
 Post-issue equity  Rs 100 million
 Return on net worth  21%
 Comment All group companies, including the promoter company, are doing badly. Falling import tariffs and GATT will expose it to punishing competition, definetly not a growth sector
 Rating *  D

* A=Subscribe & Hold; B = Subscribe & Watch; C=Subscribe & Sell; D = Avoid; E = Buy post-listing

By Kensource Information Services Pvt Ltd.

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