Manaksia – Available at cheap valuation

No. of equity shares – 6,95,34,050
Face Value – Rs. 2
Promoter holding – 58.10%
General Public holding – 16.15%

Book Value – Rs. 75
Reserves – Rs. 508 Cr
Total Debt / equity – 0.35
52 week high/low – Rs. 88/Rs. 24

Manaksia Limited (formerly Hindusthan Seals Ltd., incorporated in 1984) is a multi-division and multi-location conglomerate. It possesses 15 manufacturing plants in India and three abroad; two in Nigeria and one in Ghana.
Manaksia specializes in the manufacture of packaging products (crowns, closures and metal containers), metal products and fast moving consumer goods, among others.

They came out with a public issue at about Rs 160 per share. But due to the bad market condition it got hammered after listing & made a year low of Rs. 24. But if you look at the performance & financials, even at current price of Rs. 45 or so, it looks very cheap.

Manaksia had revenues of close to Rs 973 Cr (Rs. 784 Cr) & Net profit of Rs. 24 Cr ( Rs. 39 Cr). Net profit got hit due to relatively high raw material expenses.
Their equity is quite low, at about Rs 14 Cr with a face value of Rs 2. They had an EPS of about Rs 15 while their cash EPS is quite high at about Rs 23 & a book value of Rs 75. Their market cap is just Rs 300 Cr and right now, it is ruling at Rs 45. The dividend of 110% (Rs. 2.20 per share) has been paid for the last year. Price to book ratio is at 0.5 with a good dividend payout and good growth.

So, at Rs 45, investors can buy some shares with a long term view to earn handsome gains.