ABS is widely used in the manufac turing high quality plastics for auto and consumer appliances. India's total capacity is about 360,000 tonnes and demand is growing at double digits.
Over the last two years, it has acquired clients such as Asian Paints, ITC, Nestle, Sun Phar ma, Aurobindo phar ma, and MRF among others for providing cables at their plants.
The management also pointed out that other businesses too have started to show results. Most of the remaining businesses come from the watch division, which too has revived.
In FY16, Westlife introduced McCafe within its existing stores, which helped in boosting same store sales growth (SSSG) and overall margin.
“The interest expense in the next financial year will fall sharply as we continue repaying debt,“ said Rajeev Gupta, CFO, KEI Industries.
The appreciating trend in the rupee against major currencies also augurs well for VIP's luggage segment.
The possibility of a special dividend further increases considering the holding company, Vedanta, has large interest obligations to meet in 2017-18 and 2018-19.
GMDC incurs 37% tax on lignite, including VAT and excise duty. According to analysts, in case of 18% GST rate, levies will be reduced by `250 per tonne.
The IPO is priced at 20.7 times its FY17 annualised earnings. Given the strong earnings growth and its growth potential, the IPO appears attractive.
ITC shares added Rs 13 to close at Rs 281.20 on the BSE on Friday, off the day's high of Rs 289.
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