GLAS has come out with its latest annual report in a very positive way.
They have recorded an EPS of Rs. 0.61 in the financial year of 2010/2011 against a loss of Rs.0.06 in the financial year of 2009/2010.
The main contributors to the increase in profit are the reduce in finance cost, reduce in distribution cost, and increase in other income and mostly the increase in the operating profit which is nearly 50%.
The current price of GLAS is Rs.9/- which gives a PE of 14.75 which is a highly discounted price when comparing the market PE and the sector PE.
Recommandation - Good Buy
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