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#2
3rd November 2007, 02:18 AM
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Re: Shah Alloys
First of all there are no signs of the company having closed down. They have come up with their Sept results.
The co is making losses. I am unable to find out why. They seem to have a 20% market share in stainless steel, which makes them sort of market leader. The chairman holds almost 45% and along with his wife and brother a total of more than 50%. Financials are not looking good. Technically it is beaten. On valuations front its not so cheap either. P/BV of 0.67, P/E of 4.3, EV/EBITDA of 4.76 and PSR of 0.13. The news about their plans to get into a JV with TISCO was reported by CNBC. Dont know if it was confirmed by the managment. It is to be seen what became of it though. You see they announced dividents, but then it came off and they decided against it. They also announced that they would get into 2 wheeler manufacturing. Then again they decided against it. Clearly they are trying to catch attention. I dont see any reason why the co should close down. 
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Shah Alloys
