Manugraph India
Manugraph India is India’s largest manufacturer of web offset presses. It is the first Indian company to have achieved a breakthrough in exporting “Made in India” printing machines to advanced countries such as Germany, France, UK & USA as early as in 1994-95. It claims to have a 60% market share in web offset printing.
A day prior to the Q3FY16 results, the stock price breached the upper circuit and one day after, it breached the lower circuit. The numbers were good. On a 49% (YoY) rise in net sales at Rs.73 crore, the company posted a turnaround – its net profit came in at Rs.2 crore v/s loss of Rs.5 crore in previous Q3.
Its costs were up 30% mainly on account of higher raw material expenses. But higher sales helped it post an EBITDA of Rs.3 crore v/s loss of Rs.3 crore (YoY). Its 9MFY16 net profit stands at Rs.3 crore v/s loss of Rs.11 crore posted for FY15. Equity is pretty small at Rs.6.08 crore and is virtually debt free. Promoters holding as at 31st Dec 2015 stands at 57.51%, up from 57.46% in Q2 and up from 57.16% in Q1. There is no FII holding; LIC has a 2.42% stake.