Acquired “Janka” - Czech based manufactures of Air Handling Units in 2009. Price paid was Euros 4.5 million (Rs 33.17 cr) for a 100% stake. This was paid from internal accruals.
Margins have improved in 2010 and is expected to be around this level
The 2008 acquisition (Lloyds Coil Europe) has turned around and reported profits of 1.04 cr as opposed to a loss of 16.4 cr in the previous year.
A new manufacturing facility has been setup at Pantnagar, Uttarakhand with backward integration of major components like coils required in the manufacturing of ACs.
Executive management salary is not exhorbitant. Mr. B.R. Punj gets 28.8 lakhs and Mr. A.K.Roy gets 41.4 lakhs as total compensation.
Last equity dilution took place in 2005-06 due to conversion of preference shares and issuance of GDR.
Rs 50 cr has been put as corporate guarantee given against loan taken by related parties.
- Promoters have bought 4.68% from the market in November.
Price Realization for manufactured Items
| | 2010 | | 2009 | | Growth% | ||
| | Nos | Price(in lacs) | Price/unit | Nos | Price(in lacs) | Price/unit | |
| Condenser Coils | 703347 | 4824.03 | 685.87 | 509857 | 2466.77 | 483.82 | 41.76% |
| Evaporator Coil | 438299 | 2329.61 | 531.51 | 283707 | 1457.65 | 513.79 | 3.45% |
| Air Conditioners | 308863 | 22076.08 | 7147.53 | 271616 | 21500.66 | 7915.83 | -9.71% |
| Sheet Metal | 63406 | 34877.56 | 55006.72 | 74110 | 30382.59 | 40996.61 | 34.17% |
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