Thursday, June 3, 2010

AVOID: KILBURN ENGINEERING


Hi Mahesh,
One more stock has come into my radar, but need your expert opinion.
The stock is Kilburn Engineering.
Its the only company in the world to manufacture the all kind of dryers required for all sorts of industry.
Their web-site address is as following
http://www.kilburnengg.com/home.htm
Check out their amazing list of customers. I dont think any company has the customer list like them.

The points of worry are I think its not undervalued at current market price.
But my main concerns are that after the sale of land last year, still they have their shares pledged.
Also I went through their last yr.annual reports and bit confused about selling land at one place and buying at another nearby place.
Can you please throw some light on this stock?
Thanks.
With Regards,
Vikas


1. Kilburn enginiaring is a B group share with 10 rupees face value.
2. at 22 june 2009 price of this share is 18 only….in 2003 it is 0.85 only… so I think currant market price is very high for this share
3. promoter holding 57.15 percent in Kilburn enginiaring (normal)
4. read this forward looking statment of kilburn engineering
http://www.bseindia.com/xml-data/corpfiling/announcement/Kilburn_Engineering_Ltd_280510.pdf
5. book value of this share is 76.16
6.if you read company statement in point 4 , I think this type of forward looking statement is try to manipulate the price.
7. Williamson magor and company is main promoter of Kilburn engineering and this promoter pledged his 69.46 percent holding.
8. So overall I think you may avoid this company.

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