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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (4727)	6/25/1999 9:31:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

Agrevo India -On The Upswing Company Website. agrevoindia.com StockWatch. walletwatch.com ================================ Source : Dalal Street Journal Feb 1, 1999, 10:51:00 AM The AgroEvo India stock has been catapulted into the limelight by a series of positive developments in recent times. The stock now trades at Rs 673. It can be acquired for long-term capital appreciation. Investors can make use of declines to build exposures in the stock. Currently, AgrEvo India is at the No. 3 position with a 8.3 per cent market share in the domestic agrochemicals market, with several important formulation brands such as Decis, Spark, Hostathion, Arozin and Puma in its product portfolio. The company operates three divisions. Crop Protection, Environmental Health, and Exports. The crop protection business contributes 79 per cent of the turnover which includes insecticides, herbicides and fungicides. AgrEvo also has a presence in the non-agriculture related segments of the agrochemical industry. The formulation brands and the presence in these segments help AgrEvo to insulate its earnings stream from the cyclical downswing in prices and offtake of insecticides in the domestic market. It has a relatively young but fast growing products portfolio, and the company expects its agrochem products to touch a sales of a million litres each by the year 2000. Apart from crop chemicals, as a part of its integrated crop management programme, it will provide transgenic seeds which will be resistant to diseases and pests, and dramatically improve quality and yield. Biotechnology will thus form an integral part of its business plan. Research and development inputs from AgrEvo's parent company have already helped it turn out a steady stream of crop-specific agrochemical products for the Indian market over the past two years. The recognition of product patents by year 2005 and implementation of EMR (Exclusive Marketing Rights) would be beneficial to research-based MNCs in the agriculture and pharmaceutical industry. The parent company has a number of products in the area of biotechnology. With patent protection, the same transgenic products would be introduced in India. The company has lined up a number of superior and effective products. The new products are expected to contribute 15 per cent to the turnover with the launch of Basta, Afalon in the financial year 1999. In the next 4-5 years, the company hopes to introduce 8 new products. For the year ended 1997-98, despite a 20 per cent shrinkage in acreage of the cotton crop (the key target crop for insecticides) and the steady decline in prices of technical grade pesticide products, AgrEvo managed a 12 per cent growth in sales and a 41 per cent growth in net profits. For the nine months period ended December 1998, the company has achieved a net profit of Rs 17.51 crore on a turnover of Rs 228.24 crore. It has already achieved an EPS of Rs 19.03 for the nine months. Assuming that the company would register similar growth in the second half as compared to the previous year, the net profit should be in the range of Rs 37-38 crore on a turnover of Rs 260-270 crore. The global merger announcement between Rhone Poulenc and Hoechst Marion Roussel has been the driving force behind the AgrEvo India stock in recent times. However, enthusiasm on this count seems a bit premature. For one, even at the global level, the merger is expected to go through a multi-stage process and materialise only by the middle of 1999. Should the merger be mirrored as it is in India, this would involve a merger of the agrochemical operations of AgrEvo India with those of Rhone Poulenc Agro (an affiliate of Rhone Poulenc India). The product profiles of the two companies are complementary. However, Rhone Poulenc Agro is mainly a marketing organisation with a focus on carbamate formulations. It has a small domestic market share. On the other hand, AgrEvo has substantial basic and formulation capacities among the largest domestic agrochemical brands. So the benefits from any such merger would depend on the modalities of valuation at the time of the merger. But as the above factors highlight the fact that the AgrEvo India stock has enough going for it even without the merger.

To: Mohan Marette who wrote (4727)	6/25/1999 10:11:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

Bombay Dyeing (The House of Wadias) awaits approval for disposal of units Home bombaydyeingindia.com Message from the Chairman bombaydyeingindia.com Facilities bombaydyeingindia.com StockWatch walletwatch.com The House of Wadias: History & Company Profile: bombaydyeingindia.com The Wadias' first venture, over 250 years ago, was in the area of ship building, more than 355 ships were designed and built by the Wadias, including men-of-war for the British Navy. It was on one such ship that the American National Anthem was composed, and on another Wadia built deck that the 'Treaty of Nanking', ceding Hongkong to England, was signed..... ============================ Bombay Dyeing awaits approval for disposal of units Bombay Dyeing will seek shareholder approval at its forthcoming AGM on 23rd July to dispose off its textile units in Jamnagar, Gujarat and Roha, Maharashtra, as part of an exercise to restructure its textile business. The units would either be sold off or leased out. The Roha unit is proposed to be sold off for a minimum of Rs 33.4 m, or leased out for not less than Rs 5 m. The Jamnagar unit is proposed to be sold off for a minimum of Rs 50 m or leased out for at least Rs 7.5 m. 25 June, 1999 -EQMaster