W H Brady & Company CMP 104.00 BSE Code - 501391
W. H. Brady & Co. Ltd. began its operations in India in 1895. It has to its credit many firsts in bringing newer technologies to India, to name a few:
- India's 1st Textile Dyeing Plant
- India's 1st Insurance Company
- Marketed the 1st Diesel Engine commercially sold in India
- India's 1st electrically run Textile Mill in collaboration with a British Company
- Wheeled out India's 1st Petrol Engine Driven Tram
Its focus is on Liasioning, Marketing and Service of Engineering Goods. It has also signed Agreements with Leading European Majors in Aviation Support Services for catering to the growing demands of Indian Aviation Industry.
It is a promoter of the following companies:
- Brady & Morris Engineering Co. Ltd.
- Brady Services Pvt. Ltd.
Brady & Morris Engineering Co Ltd (74% Subsidiary):
CMP 82.00 BSE Code - 505690
Brady & Morris Engineering Co. Ltd started operations from Mumbai in 1946 as Brady Engineering Co. Ltd. and has presence almost all over India in form of works, branches and sales office. The company provides customized material handling and integrated Engineering Solutions, maintaining high standards of quality with safety conscious Material Handling Equipments.
The production facilities are located in Vatva and Bareja near Ahmedabad, Gujarat in Western India, Marketing Offices in all major metros and more than 200 Dealers, Agents and Sales representatives across the length and breadth of the country.
Brady Services Pvt. Ltd.
Brady Services Pvt. Ltd. has established its presence in the last four years as a key service provider for Property Facilities Management in India. Its dedicated team of more than 800 employees offers quality and cost effective services to the satisfaction of the customers. Its commitment to the customers has built long lasting relationships.
Its valued customers are engaged in different fields, like:
- Commercial Buildings
- Factories
- Malls
- Multiplexes
- Hotels
- Schools
- Residential
- Airports
The company has taken a bold step by offering specialized service to airports for which it has tied up with a reputed international company.
Unlocked value of its Real Estate Assets:
W. H. Brady & Co. Ltd holds substantial real estate assets in Mumbai which is worth more than Rs 250 crores. It is currently holding two major real estate assets:
- BRADY HOUSE AT VEER NARIMAN ROAD, MUMBAI.
- BRADY GLADY PLAZA AT LOWER PAREL, MUMBAI.
Financials:
The latest financials of the company are given as under:
Results (Rs in crores)
Sep ' 09 Mar ' 09 Mar ' 08 Mar ' 07 Mar ' 06 Mar ' 05
(6 M) (12 M) (12 M) (12 M) (12 M) (12 M)
Sales 7.16 21.41 9.37 7.77 4.68 3.82
Other expenses 4.93 18.20 10.92 8.92 6.01 4.99
Employee expen 0.70 1.28 1.02 0.78 0.66 0.49
Operating Profit 1.53 1.93 (2.56) (1.93) (1.99) (1.66)
Other income 0.41 1.10 5.64 4.65 4.06 3.58
Interest 0.21 0.49 0.44 0.26 0.29 0.35
Gross Profit 1.73 2.53 2.64 2.45 1.78 1.57
Depreciation 0.23 0.50 0.50 0.30 0.28 0.30
Taxation 0.29 0.35 0.48 0.46 0.27 0.21
Net Profit 1.21 1.68 1.65 1.69 1.23 1.07
Equity Capital 2.55 2.55 2.55 1.70 1.70 1.70
EPS (Rs) 4.74 6.59 6.46 9.95 7.22 6.27
Conclusion:
W. H. Brady & Co. Ltd is a highly undervalued stock, at CMP of Rs 104 with a market capitalization of Rs 28 crores. It has a small equity of Rs 2.55 crores with the promoters holding 83% of its equity. After considering its substantial holding in real estate assets worth Rs 250 crores and its holding in subsidiary Brady & Morris Engineering Co Ltd worth Rs 18 crores, W. H. Brady & Co. Ltd is trading at high discount compared to its fair value.
W. H. Brady & Co. Ltd. began its operations in India in 1895. It has to its credit many firsts in bringing newer technologies to India, to name a few:
- India's 1st Textile Dyeing Plant
- India's 1st Insurance Company
- Marketed the 1st Diesel Engine commercially sold in India
- India's 1st electrically run Textile Mill in collaboration with a British Company
- Wheeled out India's 1st Petrol Engine Driven Tram
Its focus is on Liasioning, Marketing and Service of Engineering Goods. It has also signed Agreements with Leading European Majors in Aviation Support Services for catering to the growing demands of Indian Aviation Industry.
It is a promoter of the following companies:
- Brady & Morris Engineering Co. Ltd.
- Brady Services Pvt. Ltd.
Brady & Morris Engineering Co Ltd (74% Subsidiary):
CMP 82.00 BSE Code - 505690
Brady & Morris Engineering Co. Ltd started operations from Mumbai in 1946 as Brady Engineering Co. Ltd. and has presence almost all over India in form of works, branches and sales office. The company provides customized material handling and integrated Engineering Solutions, maintaining high standards of quality with safety conscious Material Handling Equipments.
The production facilities are located in Vatva and Bareja near Ahmedabad, Gujarat in Western India, Marketing Offices in all major metros and more than 200 Dealers, Agents and Sales representatives across the length and breadth of the country.
Brady Services Pvt. Ltd.
Brady Services Pvt. Ltd. has established its presence in the last four years as a key service provider for Property Facilities Management in India. Its dedicated team of more than 800 employees offers quality and cost effective services to the satisfaction of the customers. Its commitment to the customers has built long lasting relationships.
Its valued customers are engaged in different fields, like:
- Commercial Buildings
- Factories
- Malls
- Multiplexes
- Hotels
- Schools
- Residential
- Airports
The company has taken a bold step by offering specialized service to airports for which it has tied up with a reputed international company.
Unlocked value of its Real Estate Assets:
W. H. Brady & Co. Ltd holds substantial real estate assets in Mumbai which is worth more than Rs 250 crores. It is currently holding two major real estate assets:
- BRADY HOUSE AT VEER NARIMAN ROAD, MUMBAI.
- BRADY GLADY PLAZA AT LOWER PAREL, MUMBAI.
Financials:
The latest financials of the company are given as under:
Results (Rs in crores)
Sep ' 09 Mar ' 09 Mar ' 08 Mar ' 07 Mar ' 06 Mar ' 05
(6 M) (12 M) (12 M) (12 M) (12 M) (12 M)
Sales 7.16 21.41 9.37 7.77 4.68 3.82
Other expenses 4.93 18.20 10.92 8.92 6.01 4.99
Employee expen 0.70 1.28 1.02 0.78 0.66 0.49
Operating Profit 1.53 1.93 (2.56) (1.93) (1.99) (1.66)
Other income 0.41 1.10 5.64 4.65 4.06 3.58
Interest 0.21 0.49 0.44 0.26 0.29 0.35
Gross Profit 1.73 2.53 2.64 2.45 1.78 1.57
Depreciation 0.23 0.50 0.50 0.30 0.28 0.30
Taxation 0.29 0.35 0.48 0.46 0.27 0.21
Net Profit 1.21 1.68 1.65 1.69 1.23 1.07
Equity Capital 2.55 2.55 2.55 1.70 1.70 1.70
EPS (Rs) 4.74 6.59 6.46 9.95 7.22 6.27
Conclusion:
W. H. Brady & Co. Ltd is a highly undervalued stock, at CMP of Rs 104 with a market capitalization of Rs 28 crores. It has a small equity of Rs 2.55 crores with the promoters holding 83% of its equity. After considering its substantial holding in real estate assets worth Rs 250 crores and its holding in subsidiary Brady & Morris Engineering Co Ltd worth Rs 18 crores, W. H. Brady & Co. Ltd is trading at high discount compared to its fair value.
