I have been holding Visaka for more than a year @45, and don't go by CNBC!
IMO, Visaka is far better than Hyd or other companies in the industry.
- It used to be smallest of the 4 main listed companies 4 year ago, and now is No 2, and can be ahead of Hyd in 2 years time.
- Its ROE is less than Hyd right now, but with increasing cash flow, and paring down of debt, I expect this to improve.
- Capital allocation wise too, I find it better than Hyd and Ramco.
- Looking at the dividend history, details in annual report, and my interaction with the mgmt, I find Visaka to be investor friendly.
- Generally, I would avoid C K Birla companies from competence point of view.
Also, the valuation in terms of P/B - Visaka is 1, Hyd is 1.7. Div Yield - Visaka 3.2, Hyd 2.4.
Visaka also has a small textile business, which is also doing very well.
Edited by vishmitt - 15/Oct/2009 at 2:33am
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