SHARES to Buy in 2017 Recommend by Centrum Broking
Deccan Cement Target Rs. 1,290
DCL has 50 years of limestone reserves, 18MW of CPPs
(~70-75% captive) and easy access to fly-ash and coal. Its manpower and capital
costs are one of the lowest in the industry . Its well-diversified sales across
entire south and Maharashtra region helped DCL generate higher EBITDAMT and a
steadier EBITDA margin compared to its peers.
Its return ratios are currently
among the best in the industry and are sustainable on its continued strong
OCFFCF. DCL has used its strong FCF to de-lever its balance sheet.
Fiem Industries Target Rs 1,475..!
Over the years, FIEM has reported robust top-line growth
and best-inclass margins. Further, the company has not only gained traction
with existing clients but has also been adding new clients and products.
Extensive R&D set-up has enabled FIEM to offer superior design and
development capabilities to its customers.
FIEM is the first company in India to have an NABL
accreditation for photometry lab to test automotive lamps.
IFGL Refractory Target Rs. 220
There is a strong opportunity for IFGL to gain steady
market share globally with its strong FCF generation and low leverage with
consistent payouts.
It has well-funded asset base providing large incremental
growth opportunity at very little capex.
Techno Electric Target Rs. 445
Centrum Broking inference of average RoE of 35% and RoCE of 86% in
the EPC business.
The company's debtequity is among the lowest in the industry
. Its strong niche in substation EPC works and ability to compete with large
MNCs has helped the company win contracts and deliver on profitability and
growth.
Apar Industries Target Rs. 705
Apar, with its dominant market share and diverse product
mix of conductors, transformer oil and E-beam cables, will be the key
beneficiary of the uptick in the T&D capex cycle. .Cost efficiency, pricing
discipline, near exhaustion of low margin export orders, efficiency in
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