Tide Water Oil Co. India Ltd. Report Dated 1st Feb 2008

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www.nift iews.comCompany Overview:-

Tide Water Oil Company (India) LimitedTide Water Oil Company (India) LimitedTide Water Oil Company (India) LimitedTide Water Oil Company (India) Limited

("TWOL") is a public limited co("TWOL") is a public limited co("TWOL") is a public limited co("TWOL") is a public limited company primarilympany primarilympany primarilympany primarily

engaged in the business of manufacture andengaged in the business of manufacture andengaged in the business of manufacture andengaged in the business of manufacture and

marketing of industrial and automotive lubricantsmarketing of industrial and automotive lubricantsmarketing of industrial and automotive lubricantsmarketing of industrial and automotive lubricants

and grease. The issued and paid up share capitaland grease. The issued and paid up share capitaland grease. The issued and paid up share capitaland grease. The issued and paid up share capital

of TWOL is Rs. 8.71 million comprising ofof TWOL is Rs. 8.71 million comprising ofof TWOL is Rs. 8.71 million comprising ofof TWOL is Rs. 8.71 million comprising of

871,200 shares of Rs. 10/871,200 shares of Rs. 10/871,200 shares of Rs. 10/871,200 shares of Rs. 10/---- each.each.each.each.

Andrew Yule & Company LAndrew Yule & Company LAndrew Yule & Company LAndrew Yule & Company Limited ("AYCL"), aimited ("AYCL"), aimited ("AYCL"), aimited ("AYCL"), a

government company under the administrativegovernment company under the administrativegovernment company under the administrativegovernment company under the administrative

control of the Ministry of Heavy Industries andcontrol of the Ministry of Heavy Industries andcontrol of the Ministry of Heavy Industries andcontrol of the Ministry of Heavy Industries and

Public Enterprises, Government of India, holdsPublic Enterprises, Government of India, holdsPublic Enterprises, Government of India, holdsPublic Enterprises, Government of India, holds

directly and through its group companies 27.71%directly and through its group companies 27.71%directly and through its group companies 27.71%directly and through its group companies 27.71%

of the issued and paid up equity share capital ofof the issued and paid up equity share capital ofof the issued and paid up equity share capital ofof the issued and paid up equity share capital of

TWOL. United India Insurance Company LimitedTWOL. United India Insurance Company LimitedTWOL. United India Insurance Company LimitedTWOL. United India Insurance Company Limited

("UII") and Life Insurance Corporation of India("UII") and Life Insurance Corporation of India("UII") and Life Insurance Corporation of India("UII") and Life Insurance Corporation of India

("LIC") hold 10.04% and 4.23% respectively in("LIC") hold 10.04% and 4.23% respectively in("LIC") hold 10.04% and 4.23% respectively in("LIC") hold 10.04% and 4.23% respectively in

the issued and paid up equity share capital ofthe issued and paid up equity share capital ofthe issued and paid up equity share capital ofthe issued and paid up equity share capital of

TWOL.TWOL.TWOL.TWOL. We had a Buy Call on Andrew yule last year atWe had a Buy Call on Andrew yule last year atWe had a Buy Call on Andrew yule last year atWe had a Buy Call on Andrew yule last year at

26 levels. Stock m26 levels. Stock m26 levels. Stock m26 levels. Stock made a decent high of 95 levelsade a decent high of 95 levelsade a decent high of 95 levelsade a decent high of 95 levels

in January before trending along with thein January before trending along with thein January before trending along with thein January before trending along with the

mayhem witnessed in the stock markets.mayhem witnessed in the stock markets.mayhem witnessed in the stock markets.mayhem witnessed in the stock markets.

Tide Water Oil Co (I) Ltd. (TWO) wasTide Water Oil Co (I) Ltd. (TWO) wasTide Water Oil Co (I) Ltd. (TWO) wasTide Water Oil Co (I) Ltd. (TWO) was

incorporated in thincorporated in thincorporated in thincorporated in the year 1928 in Kolkata as ae year 1928 in Kolkata as ae year 1928 in Kolkata as ae year 1928 in Kolkata as a

member of the Andrew Yule Group ofmember of the Andrew Yule Group ofmember of the Andrew Yule Group ofmember of the Andrew Yule Group of

Companies. Being a Managing Agency House, itCompanies. Being a Managing Agency House, itCompanies. Being a Managing Agency House, itCompanies. Being a Managing Agency House, it

was logical for a conglomerate like Andrew Yulewas logical for a conglomerate like Andrew Yulewas logical for a conglomerate like Andrew Yulewas logical for a conglomerate like Andrew Yule

& Co Ltd to have its own Group Company for& Co Ltd to have its own Group Company for& Co Ltd to have its own Group Company for& Co Ltd to have its own Group Company for

lubricants also. The Company started itslubricants also. The Company started itslubricants also. The Company started itslubricants also. The Company started itsoperations initioperations initioperations initioperations initially at Ramkristopur , Howrah,ally at Ramkristopur , Howrah,ally at Ramkristopur , Howrah,ally at Ramkristopur , Howrah,

primarily to meet the requirements of the Groupprimarily to meet the requirements of the Groupprimarily to meet the requirements of the Groupprimarily to meet the requirements of the Group

Companies of Andrew Yule & Co Ltd.Companies of Andrew Yule & Co Ltd.Companies of Andrew Yule & Co Ltd.Companies of Andrew Yule & Co Ltd.

KEY STATS:-

CMP : 3311

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CONTACT:09327744250

CST NUMBER: AADCT0544JST001

DATE:01.02.2010


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Over the years set up 4 moreOver the years set up 4 moreOver the years set up 4 moreOver the years set up 4 more

Plants all over India atPlants all over India atPlants all over India atPlants all over India at

Royapuram (Chennai), DeonarRoyapuram (Chennai), DeonarRoyapuram (Chennai), DeonarRoyapuram (Chennai), Deonar

(Mumbai), Silvassa (Dadra &(Mumbai), Silvassa (Dadra &(Mumbai), Silvassa (Dadra &(Mumbai), Silvassa (Dadra &

Nagar Haveli) and FaridabadNagar Haveli) and FaridabadNagar Haveli) and FaridabadNagar Haveli) and Faridabad(Har(Har(Har(Haryana). Today TWO is one ofyana). Today TWO is one ofyana). Today TWO is one ofyana). Today TWO is one of

the few Companies in India whothe few Companies in India whothe few Companies in India whothe few Companies in India who

have its own Plants spread overhave its own Plants spread overhave its own Plants spread overhave its own Plants spread over

the length and breadth of thethe length and breadth of thethe length and breadth of thethe length and breadth of the

country. While the Silvassa Plantcountry. While the Silvassa Plantcountry. While the Silvassa Plantcountry. While the Silvassa Plant

is fully automated usingis fully automated usingis fully automated usingis fully automated using

programmable logic controllers,programmable logic controllers,programmable logic controllers,programmable logic controllers,

(the latest international(the latest international(the latest international(the latest international

technology of Fishetechnology of Fishetechnology of Fishetechnology of Fisher Rosementr Rosementr Rosementr Rosement

has been adopted), the otherhas been adopted), the otherhas been adopted), the otherhas been adopted), the other

Plants of the Company havePlants of the Company havePlants of the Company havePlants of the Company havebeen upgraded suitably. Thebeen upgraded suitably. Thebeen upgraded suitably. Thebeen upgraded suitably. The

Company's Plants at SilvassaCompany's Plants at SilvassaCompany's Plants at SilvassaCompany's Plants at Silvassa

and Royapuram have obtainedand Royapuram have obtainedand Royapuram have obtainedand Royapuram have obtained

accreditation of ISO 9001accreditation of ISO 9001accreditation of ISO 9001accreditation of ISO 9001 ---- 2000200020002000

quality standards. The Silvassaquality standards. The Silvassaquality standards. The Silvassaquality standards. The Silvassa

Plant has obtained accreditationPlant has obtained accreditationPlant has obtained accreditationPlant has obtained accreditation

underunderunderunder ISO 14001 standard also.ISO 14001 standard also.ISO 14001 standard also.ISO 14001 standard also.

The company has over the yearsThe company has over the yearsThe company has over the yearsThe company has over the years

made a significant brand valuemade a significant brand valuemade a significant brand valuemade a significant brand value

for itself.We believe that goingfor itself.We believe that goingfor itself.We believe that goingfor itself.We believe that going

forward the company will showforward the company will showforward the company will showforward the company will show

strong organic growth.strong organic growth.strong organic growth.strong organic growth.

Investment Rationales:Investment Rationales:Investment Rationales:Investment Rationales:----

Over the years company hasOver the years company hasOver the years company hasOver the years company has

been a dividend payingbeen a dividend payingbeen a dividend payingbeen a dividend paying

compacompacompacompany. The real growth inny. The real growth inny. The real growth inny. The real growth insales and NPM have beensales and NPM have beensales and NPM have beensales and NPM have been

witnessed due to organicwitnessed due to organicwitnessed due to organicwitnessed due to organic

growth and increase in itsgrowth and increase in itsgrowth and increase in itsgrowth and increase in its

net realizations.net realizations.net realizations.net realizations. One important point to beOne important point to beOne important point to beOne important point to be

noted here is that Co.. is anoted here is that Co.. is anoted here is that Co.. is anoted here is that Co.. is a

subsidiary company ofsubsidiary company ofsubsidiary company ofsubsidiary company of

Andrew yule and will beAndrew yule and will beAndrew yule and will beAndrew yule and will be

ultimately sold viaultimately sold viaultimately sold viaultimately sold via

divestment processdivestment processdivestment processdivestment process.... Some of the group companiesSome of the group companiesSome of the group companiesSome of the group companies

of Tide water Oil Limited areof Tide water Oil Limited areof Tide water Oil Limited areof Tide water Oil Limited are

expected to get listed inexpected to get listed inexpected to get listed inexpected to get listed in

coming days.(Dpsc limitedcoming days.(Dpsc limitedcoming days.(Dpsc limitedcoming days.(Dpsc limited

and Hoogly printing worksand Hoogly printing worksand Hoogly printing worksand Hoogly printing works

limited.)limited.)limited.)limited.) Tide water has shown goodTide water has shown goodTide water has shown goodTide water has shown good

growth in sales and bottomgrowth in sales and bottomgrowth in sales and bottomgrowth in sales and bottom

line in quarter endingline in quarter endingline in quarter endingline in quarter ending

December 2007.December 2007.December 2007.December 2007. Buying should beBuying should beBuying should beBuying should be with twowith twowith twowith two

targets.One for short termtargets.One for short termtargets.One for short termtargets.One for short term

around 6500 where 50% ofaround 6500 where 50% ofaround 6500 where 50% ofaround 6500 where 50% of

profits is to be booked andprofits is to be booked andprofits is to be booked andprofits is to be booked and

the second one for Longthe second one for Longthe second one for Longthe second one for Long

term where the remainingterm where the remainingterm where the remainingterm where the remaining

50% should be kept to see50% should be kept to see50% should be kept to see50% should be kept to see

the best times.the best times.the best times.the best times.


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MANDATORY DISCLOSURES:This document is for information only and is meant for the use of the Recipient & not for circulation.

The information contained in this document has been taken from publicly available information tradeand statistical services & other sources. While the information contained herein is from sources believed to bereliable, we do not hold ourselves responsible for its Completeness andaccuracy. All opinions and estimates included in this report constitute our judgment as of this date and are

Subject to change without notice. Investors are expected to use the information contained in this report at theirown risk. This report is not and should not be construed as an offer or the Solicitation of an offer to buy or sell anysecurities. TEAM STOCKRESEARCHERS and its affiliates may act as market maker or have assumed an underwriting

position in the securities of companies discussed herein and may sell them to or buy them from

customers on a principal basis..


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Financial synopsis:Financial synopsis:Financial synopsis:Financial synopsis:----

Documents

Tide Water Oil Co. India Ltd. Report Dated 1st Feb 2008