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Buy Ambika Cotton Mills – Call closed – 148% returns as on 09-04-10

Posted on: May 24th, 2009 at 7:45 pm

CALL CLOSED (LONG TERM INVESTORS – HOLD IT) Buy Ambika Cotton mills. Current market price: 74.90. Long term target: 149.80. Book value: 189.30. P/E ratio: 3.57

The Company’s principal activity is to manufacture and market cotton yarn. Its cotton yarns are used for manufacturing of shirts and T Shirts. Its plant is located in Kanniyapuram, Dindigul district of Tamil Nadu. The Company operates only in India.

The company has been working on value added products which yield better margins. To reduce power costs, Ambika has planned to increase the present installed capacity for wind energy from 13.8MW to 17.8MW by installing five windmills of 800kW each at an estimated cost of Rs21.48 crore.

Year      Month Dividend (%)
2008     Jun             20
2007     Jun             25
2006     Jun             20
2005     Jun             20
2004     Jun             16
2003     Jun             16
2002     Jun             12
2001     Jun             12
2000     Jun             12
1999     Jul              18
1998     Jul              18
1997     Jul              18

YEAR EVENTS 1988 – The Company was originally incorporated as Ambika Cotton Mills Private Ltd as a Private Limited Company on 6th October , in the State of Tamil Nadu, and subsequently converted into a Public Limited Company on 5th September, 1994.

– The Company was promoted by Shri P K Ganeshwar, Shri M Rathanasamy and Shri P V Chandran, for setting up a cotton spinning mill. The mill, located in Dindigul, Tamil Nadu, commenced operations in January 1990. The project, with an initial capacity of 6048 spindles was part-financed by a term loan from State Bank of India. The Company carried out an expansion scheme to add certain back-process machinery in February 1991, which was also funded by the State Bank of India.

1992 – The company began implementation of an expansion project to double its spindlage to 12096 spindles by the addition of 6048 spindles. This project which was financed by means of a medium term loan from State Bank of India and the State Bank of Mysore on a consortium and through a Deferred Payment Guarantee limit from IDBI. The project was successfully completed in March 1993.

1994 – The Company added Comber machines to its production line and humidification system. This was funded by SIPCOT through a term loan of Rs. 90.86 lacs.

– The Company currently manufactures combed and carded cotton yarn of counts ranging from 30’s to 40’s. These are used by hosiery manufacturers to convert the same into fabric or garments.

2000 – The Company has chalked out a Rs 14-crore expansion-cum-modenrisation programe.

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98 Responses

Comment pages: 1234567Show all

  1. karan Says:
    September 6th, 2009
    Posted at: 11:46 am

    buy bisleri gujrat at 2 rs tgt 5 rs in 3 months

  2. imran Says:
    September 6th, 2009
    Posted at: 12:26 pm

    Good Morning CB

  3. CB Says:
    September 6th, 2009
    Posted at: 12:52 pm

    Hi karan, thanks

    Hi imran, Good morning..

  4. imran Says:
    September 6th, 2009
    Posted at: 1:33 pm

    CB, could u pls let me know some pennystocks with which i can gain a better amount with a few days hold (like cals refinery). Also pls mention the entry & exit price

  5. CB Says:
    September 6th, 2009
    Posted at: 1:54 pm

    Hi imran, would advice to wait for some dip since markets have run up a lot and enter bisleri, kaashyap, antartica..

  6. narayanaswamy Says:
    September 7th, 2009
    Posted at: 3:35 pm

    what about oil india limited IPO?

  7. sudha Says:
    August 19th, 2010
    Posted at: 10:42 am

    hi,can i hold HindUSTHAN COPPER pur @521, now itdown to 444 guide me

  8. sivakumar Says:
    August 28th, 2010
    Posted at: 7:51 am

    buy banknifty current level.

  9. ANIL KAPOOR Says:
    November 19th, 2010
    Posted at: 2:16 pm

    hello sir

  10. ANIL KAPOOR Says:
    November 19th, 2010
    Posted at: 2:17 pm

    I am holding 200 Reliance Capital is it strong or weak?

  11. CB Says:
    November 19th, 2010
    Posted at: 2:20 pm

    Hi ANIL KAPOOR, its looking a bit weak. has support at 690. if possible hold for short term

  12. gaurav Says:
    November 21st, 2010
    Posted at: 10:31 pm

    what do you feel about venky's india is it the right time to enter the stock? which paper stock is better ballarpur or rama papers? both based in southern states.

  13. gaurav Says:
    November 21st, 2010
    Posted at: 10:35 pm

    <at what price did you buy relince capital? if you brought at around 740/ levels than is ok otherwise it might be difficult to say as the market s showing a strong downtrend and if it is brought a t a higher level than you could wait until the market shows an uptrend.thanks.

  14. Vikneshraj Says:
    February 27th, 2017
    Posted at: 1:38 am

    I m having
    VIVIDHA[1900qty] buy price at 2.53 when it will be increased. Currently 500+rs loss showing

  15. CB Says:
    February 27th, 2017
    Posted at: 8:01 am

    Hi Vikneshraj, its overall a good bet. hold for 2-3 months.

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