Reasons for buying:
Buy PE was reasonable at 6 and below 10 years PE median of 7.79.
Earnings have increased 8 times since 2012 and revenues were flat since 2012. I probably should sell it at a profit since revenues were not increasing but not a bad stock to own. I will stop buying when EPS is down to 18.41.
Return on equity is ok at 17.98%.
The market cap of the company is ₹1,477.87cr.
The debt of the company is ₹173.27cr with ₹626.06cr in cash.
Buy date: 12-Nov-2021
Qty: 27 Buy Price: ₹368.35 Buy EPS: ₹61.37 Buy PE: 6
The price of the stock is down about -10.55% from my buy price.
I have added 10K worth of stock when it has fallen 10%.
Buy date: 26-Nov-2021
Qty: 30 Buy Price: ₹328.50 Buy EPS: ₹61.37 Buy PE: 5.35
Buy date: 18-Feb-2022
Qty: 34 Buy Price: ₹294 Buy EPS: ₹57.32 Buy PE: 5.12
Buy date: 27-Feb-2023
Qty: 228 Price: ₹306.9 Buy EPS: ₹55.93
The yield is 3% and will hold for the long term.
The company manufactures forging and engineering quality carbon and alloy steel. Its product portfolio consists of carbon steel, chrome steel, chrome-manganese steel, chrome-nickel steel, chrome-moly steel, low carbon chrome-nickel-moly steel, medium carbon cr-ni-mo steel, and bearing steel. The company's products are used in automotive forging, construction equipment, bearing, seamless tubes, and aluminum smelting. The majority of the revenue is generated by the sale of Rolled Products, As cast blooms, and Pig iron.
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