Sri Aurobindo on himself Author: Sri Aurobindo
ISBN: 81-7058-019-6Binding: Soft Cover Pages: 515
Price: Rs 125Essays on the Gita
Author: Sri Aurobindo
ISBN: 81-7058-612-7Binding: Soft CoverPages: 595
Price: Rs 150
Dear members, Mumbai-based Tokyo Plast International (C.M.P. Rs.9.63) has been gaining ground since a fewtrading sessions and has crossed its previous 52-week high today. Despite strong fundamentals, the stock had been lying low for quite sometime and could now bein the middle of a re-rating. Its plastics business has been facing margin pressure for some time now, thereby affectingprofitability. Sales have also been declining over the last two years.
This has been primarily on account of dumping of low value products by China into thedomestic market.
It has nevertheless managed to remain in the black and
margin pressure is now expected toease, given the revaluation of the Chinese Yuan.
Chinese exports should slow down. Prices of raw materials like polypropylene and stainless steel are also easing. The company has a strong presence in the plastic household industry
The book value stands at Rs.25.85 per share.
Adjusted for certain auditors' qualifications made in FY05 in respect of old overdues and also for diminuition in value of certain long-term investments, I have arrived at a book value figure of Rs.10.56 per share. The Management, however, feels that the overdue amounts are recoverable and diminution invalue of long-term investments is temporary. Hence, no provision has been made for the same.