DP Money Watch - Sing All The Way To The Bank With Singer India

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Singer India is a 136 year old company and the Singer brand is a house-hold name in more than 75 countries around the globe. Sir Issac Merrit Singer formed IM Singer & Co. in 1851 with a borrowed capital of US $40 in New York. Singer made an entry into the Indian sub-continent as early as 1871 when it established its office in Mumbai and soon the company name became synonomous with anything related to sewing.

Now, 136 years later Singer is not only a leading player in sewing machines but has also expanded its product range to meet all the requirements of any Indian household. Singer now sells a large number of small domestic appliances as well as Food Processors, Electric Irons etc. Recently, Singer’s former Managing Director Mr. KK Gupta who had taken up an assignment at Chambal Fertiliser during late 1999 has again joined the company as its Vice Chairman. Although the company financials are nothing to write home about, but the latest valuations of its brand in India reveals that only the brand Singer is worth a few times its market capitalisation of Rs. 17 crores. A major turn-around in the company’s performance is expected in the next few years.

Buy is recommended at Rs. 11 with one year HOLD.

This report has been prepared solely for information purposes and the information contained herein may not be deemed to be an investment advice. Such information is impersonal and not tailored to the investment needs of any specific person. The information contained herein is not a complete analysis of every material fact representing any company, industry or security. The views expressed may change. While the information contained herein has been obtained from sources believed to be reliable, no responsibility (or liability) is accepted for the accuracy of its contents. Investors are advised to satisfy themselves before making any investments and should consult with and rely upon their own advisors whether and how to use such information in making any investment decision.

Tags: singer, chambal, stocks, equity, buy

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