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Matthew 7:7,8 Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you: For every one that asketh receiveth; and he that seeketh findeth; and to him that knocketh it shall be opened.

29 Jul 2015


Hi Friends,  Majority of the Analysts and Business periodical publishers have the opinion that there is little doubt that the Indian Stock Market is in a multi year bull run. In the past  bull runs we have seen that mid-cap perform much better than large caps.  If so it would not be a  bad idea to increase one’s exposure to mid caps and small caps is one’s port folio.  They believe that in the coming months the flavor of the market will again be mid-caps and small caps.  I give you a growth oriented mid cap company for your investment.

Regarding B S Ltd.,(BSE Code – 533276, NSE Code BS LIMITED),  ten years is not a very long time in corporate evaluation.  Yet these years have proved to be forma-tic in their journey from modest beginning to gradual industry prominence.  Formerly known as BS Trans-comm Ltd is India’s infrastructure player in Power transmission & Distribution and Telecom managed services.  Today they are the preferred EPC provider in India and poised  to become a holistic infrastructure provider.  Their diverse portfolio includes (i) tower manufacturing, (ii) Telecom, (iii) Trunkeservices, (iv) Renewable energy solution, (v) Mineral resources (iron ore, coal, Nickel & Manganese).  R.S. Global  Resources (P) Ltd is their subsidiary company.

B.S. Ltd have grown significantly in these years from tower manufacturing to executing Asia’s first 1200 KV transmission lines, today they are executing diverse Projects across the length and breadth of India, focusing on high margin power transmission lines and substation projects.

India presents tremendous opportunities in the Power sector.  The country is the world’s 4th largest energy consumer.  At the same time, it is home to over 300 million people ,who continue to languish in darkness.  More over, around 30% of the power generated is lost during T & D.  Transmission/open access constraints have resulted in uneven power distribution and power shortage in few states.  BS Ltd is efficient and financially healthy T&D utilities.

Financials:-  Share Price Rs.29.35,  Equity – Rs.43.98 Cr.,  Market Cap – Rs.1260.21 Cr., PE – 18.33,  EPS – 1.56,  Book Value – Rs.12.54,  Dividend – 10%,  F/Value of share – Re.1/-,  Industry PE – 14.12,   Total Sales in Cr. for the year 2011-2015:  871.97,  1154.78,  1513.06,  1770.38 and 1904.93.  Total Net Profit in Cr. for the year 2011-2015:  51.04,  51.70,  56.36,  62.67 and 68.58.

Shareholding Pattern:  Promoters – 68.84%,  Other companies – 16.88%, General Public – 11.18%,  FIS – 2.75% and others 0.35%.

Management Efficiency:  Return of Equity – 12.95,  Return of Assets 3.94,  Return of Capital employed – 16.13,  Fixed Assets turnover – 1.95,  Gross Profit Margin 11.23,  Operating Profit Margin 12.85,  Net Profit Margin – 3.52,  Debt Equity Ratio- 0.36.

BS Ltd incorporated in the year 2004, is a mid cap company having market cap of Rs.1260.21 Cr. operating telecommunication sector.  BS Ltd key products revenue segments include sales of services which contributed Rs.859.27 Cr. to Sales Value (47.46% of total sales),  Towers  & Structural s which contribute Rs.519.46 Cr. to Sales value (28.69% of total sales), sale of products which contributed to Rs.431.76 Cr. to Sales Value (23.84% of total sales) for the year ending 31.03.2014.  For the quarter ended 31.03.2015, the company has reported a standalone sales of Rs.535.18 Cr, up 9.11% from last quarter sales of Rs.490.48 Cr. and up 7.93 % from last year same quarter sales of Rs.495.87 Cr.  Company has reported net profit after tax of Rs.22.56 Cr in  last quarter.

The promoters are holding maximum up to 70% of share issued.  It reflects their confidence in the future of the company. They are also going to acquire four related companies for their growth. Share price is also cheap.  Consider it for long term investment.

Good luck                                                                See you later.