Archive for the ‘Company Analysis’ Category

Recent analysis


I have been trying to look at some good companies in the 1000-4000 crore market cap range which are undervalued. The reason being I have invested in two microcaps (Ador Fontech and Patel Airtemps) whose valuations I am kind of comfortable with but not with the underlying business itself to hold them for the long […]

Patels Airtemp


Company: Patels Airtemp was established in the year 1973 and they are into the Refrigeration and Air conditioning business, mostly for industrial clients, and have the following product verticals. -> Heat Exchangers -> Air cooled heat exchangers -> Columns and pressure vessels -> Refrigeration and Air conditioning equipment -> High Voltage Air Conditioning projects (Turnkey) […]

AK Capital services is a very interesting company. It is a merchant banker and predominantly active in the Private placement of Debt issues. For the 8th Consecutive Financial year, AK Capital has emerged as largest mobiliser of debt through private placement of bonds and non convertible debentures during FY 2008-09 (non bank category). Market share of AK Capital […]

Ador Fontech


The problem one has with small caps is the lack of proper disclosures or analysis in their Annual Reports and Ador Fontech is no exception. It is absolutely impossible understand what business this company is into from their annual reports and MD&A. They are extremely vague. But the numbers behind this will definitely give many […]

These are the figures for the company “HMT India” since 1989 which I assume is the time they got listed. Total Sales in 21 years: 10,000 Crores Total profit made for shareholders in 21 years: -970 crores (Yes, there is a “-” in front of the number) Total dividend paid in 21 years: 7 crores […]