Euro Multivision Limited IPO Message Board (Page 6)

12. Rangaswamy  Sep 18, 2009 9:47:37 AM IST I Like It. | Report Abuse
Bhai log bilkul sahi tulsian ji jo boltay hai uska ulta hotha hai sahi hai. I have closly observed his analysis from last 2years. When he suggest some share will go up after 2-3 it will start falling like anything. Becareful bhai log apna paisa math dalo.........
11. ipoipo  Sep 17, 2009 11:02:14 PM IST I Like It. | Report Abuse
Company is proposing to put 40MW solar cell manufacturing plant. Solar cell is required to make solar module which produces solar power and one requires solar wafer as input to make solar cell. Solar cell manufacturing line has nos. of chemical and mechanical processes and transforms raw polysilicon solar wafer into a solar cell.

Assuming company produces full scale production from day 1 then at 1.8$/wattx50rs.x40mw/10=360cr. as revenue. Considering 30% ebidta and deducting interest and depreciation, company can theoretically make 85cr. as PBT. Considering it sells 100% in India, it will not enjoy tax benefit and thus PAT works out to be 55Cr. Say Company makes 5cr. profit in present business line (mfg. of CDR disk). Thus in best case scenario company can make 60cr. profit. Company’s IPO valuation is 180cr. So theoritically, on full scale production and present mkt. prices shares are available at 3PE.

However that was a theoretical case, world over analysts are predicting solar cell prices to drop 1 to 1.2$/watt (almost half), due to massive capacity expansion in china. Company does not have any control over it’s raw material prices (solar wafer), and if solar cell prices drop, margin can evaporate. Some of the Chinese manufacturer are fully integrated and can weather out margin erosion due to high control over input prices.

Also company have not yet indentified client and thus have high risk of plant idealing, as most of solar module mfg. in India have either tied up overseas for solar cell sourcing or have plan to mfg. cell themselves.
Solar module makers (like Webel SL, Tata BP solar) are better placed as they make solar module plus solar cell manufacturing facilities. They sell Solar module in retail thus have less volatility in Revenue.

Company’s management are genuine people, but their past issue “Euro ceramics” has eroded shareholders wealth.

Considering all above and High risk associated with the project it is better to avoid the issue.
10. jitubhai  Sep 17, 2009 9:28:40 PM IST I Like It. | Report Abuse
euro group ka ek aur ipo pahle aya tha. euro ceramics rs 180/- wala abhi 50/- mein milta hai...bach ke rahana babuji
9. narender  Sep 17, 2009 8:39:38 PM IST I Like It. | Report Abuse
8. MEHUL SHAH  Sep 17, 2009 6:51:28 PM IST I Like It. | Report Abuse
Total Fraud. Remember Euro Ceremics issue. This company belongs to same group. Think Twice before applying.
7. m g sheikh  Sep 17, 2009 4:53:27 PM IST I Like It. | Report Abuse
Seems to be average issue like moser baer. One has to wait till listing and after its first year result one should add to his portfolio.
6. KAUSER RAHMAN  Sep 16, 2009 8:07:00 PM IST I Like It. | Report Abuse
It is avarage
so before apply you must read offer decument carefully and also check expert advice
5. rgoel  Sep 16, 2009 3:09:49 PM IST I Like It. | Report Abuse
arrey bhai kyon utawley ho rahey ho? experts kis liye hain.apney tulsian jo bole uska ulta karo. simple.
4. pradeep  Sep 16, 2009 12:41:11 PM IST I Like It. | Report Abuse
very good
3. Sudershan  Sep 15, 2009 9:23:47 PM IST I Like It. | Report Abuse
good issue.... must apply...

2. anil kumar khunteta  Sep 15, 2009 8:48:15 PM IST I Like It. | Report Abuse
it is too early to say expensive,invest into gives you listing gain
1. ALI BHOY SAKAR BAZAR WALA  Sep 15, 2009 7:12:41 PM IST I Like It. | Report Abuse

EPS. Rs 2.5 FY 09 PE @ Rs.75 = PE 30
EPS. Rs 10 FY 08
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