Hella India Lighting Ltd (HIL):- is a subsidiary of Hella KGaA Hueck & Co., Germany with a core focus on Automotive Lighting and Signalling equipment. They are among the pioneers of automotive lighting in India and started their operations in 1959 , presently having manufacturing location at Derabassi near Chandigarh..Hella India Lighting Ltd is in Auto Ancillaries sector and presently it is listed in BSE (BSE: 520026).Mr.Ramashankar Pandey is the Managing Director of HIL.
If we talk about the business of this Company,then HIL deals in manufacturing of head lamps,horn,sundry lamps,switches,flashes lamps and other products.One of the fastest growing Company of its kind.
Key Facts: The company is having a P/E of just 1.76 at present while Earning Per Share(EPS) is 85.76 which is too good from fundamental point of view.And if we have a look at the Share Holding pattern of the company,then Promoter holding is about 81.85% which makes this stock a safe bet for investors.
Lets have a look at the balance sheet of the Company:
Balance Sheet of Hella India Lighting | ------------------- in Rs. Cr. ------------------- |
| Mar '11 | Mar '10 | Mar '09 | Mar '08 | Mar '07 | ||||||
 | ||||||||||
| 12 mths | 12 mths | 12 mths | 12 mths | 12 mths | ||||||
| ||||||||||
| Sources Of Funds | ||||||||||
| Total Share Capital | 14.61 | 14.61 | 8.57 | 8.17 | 8.17 | |||||
| Equity Share Capital | 3.17 | 3.17 | 3.17 | 3.17 | 3.17 | |||||
| Share Application Money | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||
| Preference Share Capital | 11.44 | 11.44 | 5.40 | 5.00 | 5.00 | |||||
| Reserves | 17.90 | -8.00 | -6.30 | -7.15 | -5.86 | |||||
| Revaluation Reserves | 0.00 | 0.25 | 0.25 | 0.25 | 0.25 | |||||
| Networth | 32.51 | 6.86 | 2.52 | 1.27 | 2.56 | |||||
| Secured Loans | 0.00 | 0.00 | 0.04 | 0.54 | 0.54 | |||||
| Unsecured Loans | 1.24 | 13.15 | 18.30 | 8.58 | 13.64 | |||||
| Total Debt | 1.24 | 13.15 | 18.34 | 9.12 | 14.18 | |||||
| Total Liabilities | 33.75 | 20.01 | 20.86 | 10.39 | 16.74 | |||||
| Mar '11 | Mar '10 | Mar '09 | Mar '08 | Mar '07 | ||||||
| ||||||||||
| 12 mths | 12 mths | 12 mths | 12 mths | 12 mths | ||||||
| ||||||||||
| Application Of Funds | ||||||||||
| Gross Block | 11.62 | 12.24 | 8.17 | 7.75 | 7.23 | |||||
| Less: Accum. Depreciation | 4.37 | 2.78 | 2.25 | 2.09 | 1.81 | |||||
| Net Block | 7.25 | 9.46 | 5.92 | 5.66 | 5.42 | |||||
| Capital Work in Progress | 0.04 | 14.18 | 16.93 | 6.79 | 0.60 | |||||
| Investments | 0.50 | 0.00 | 0.00 | 0.00 | 0.00 | |||||
| Inventories | 6.07 | 5.20 | 5.82 | 3.45 | 2.15 | |||||
| Sundry Debtors | 7.00 | 4.79 | 2.57 | 3.36 | 5.48 | |||||
| Cash and Bank Balance | 25.56 | 0.60 | 0.23 | 0.67 | 0.77 | |||||
| Total Current Assets | 38.63 | 10.59 | 8.62 | 7.48 | 8.40 | |||||
| Loans and Advances | 1.24 | 1.45 | 2.11 | 1.31 | 0.90 | |||||
| Fixed Deposits | 0.00 | 0.06 | 1.14 | 0.05 | 12.17 | |||||
| Total CA, Loans & Advances | 39.87 | 12.10 | 11.87 | 8.84 | 21.47 | |||||
| Deffered Credit | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||
| Current Liabilities | 12.27 | 15.36 | 13.30 | 10.36 | 10.24 | |||||
| Provisions | 1.64 | 0.36 | 0.54 | 0.55 | 0.50 | |||||
| Total CL & Provisions | 13.91 | 15.72 | 13.84 | 10.91 | 10.74 | |||||
| Net Current Assets | 25.96 | -3.62 | -1.97 | -2.07 | 10.73 | |||||
| Miscellaneous Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||
| Total Assets | 33.75 | 20.02 | 20.88 | 10.38 | 16.75 | |||||
| ||||||||||
| Contingent Liabilities | 0.74 | 0.98 | 0.11 | 11.77 | 0.01 | |||||
| Book Value (Rs) | 66.44 | -15.21 | -9.86 | -12.56 | -8.48 | |||||
Clearly as we can see that the company has been posting very good results YoY and it seems a good bet for long term.One can buy HIL at current level(151) with a target of 240 in one year time period.
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