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“In India, companies may fall sick, but promoters rarely do!”

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Fantastic Q1 FY 09 for Iron Ore Companies Sandur Manganese and Sesa Goa

Both Iron Ore Producers,Sandur Manganese and Sesa Goa have turned in mind boggling Q1 Results…yet Mr S Y Ghorpade, Chairman &  Managing Director of Sandur says that the Rising Prices of Iron Ore may not sustain  while Mr P K Mukherjee,Managing Director of Sesa Goa says the record US $ 140/T FOB Mangalore is indicative of things to come and he expects a fantastic year

Sandur is on down circuit  by 5% at Rs 1308.75 today.It notched Rs 64.31 Net on an Equity of Rs 8.75 crs (FV Rs 10) giving a record unannualised EPS of Rs 73.36…..Notwithstanding caution given by Mr Ghorpade,Sandur should record an EPS of close to Rs 300 this year…this gives a multiple of just over 4

On Sesa Goa I have commented on it several times past few days,even yesterday…check out earlier blogs…It at Rs 3380 Cum 1:1 Bonus and Cum 10:1 Sub Division right now….goes X on August 8,2008 and must be in your portfolio  


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