Saturday, October 16, 2010
Ludlow Jute and Specialities ltd is the first ISO 9002 jute mill in the world and belongs to SS Kanoria Group.Its jute mill is located in Hooghly in a 100 acre prime land owned by the company.It is one of the best mechanized mills in the jute industry and its products are widely used in industries like Packaging,Carpet manufacturing, Horticulture scrim cloth, Explosive, Fabrics and bags.. etc. Due to increasing awareness and mandatory requirements , fortunes of jute industry is expected to get a boost in near future due to its bio-degradable nature over synthetic materials.Company is now modernizing it plants to increase the quantity and quality of its products. Company is improving its financials by exploring new opportunities and reducing wastage and other costs .For the first qtr of FY 2011 ,Ludlow posted a turnover of Rs.77 Cr and a net profit of Rs.7.6 Cr .This growth is expected to continue in coming qtrs. Company also declared a dividend of 15% for FY 2010. CMP of Ludlow Jute is around Rs.89/- .Long term investors can consider it in any correction.