HITECH PLAST is promoted by Ashwin DANI (Promoter of Asian Paints). HPL started its operations in December 1993, by manufacturing thin walled cylindrical, injection moulded, plastic containers referred as BoCans a product invented and patented by a technocrat, Mr. Eric Bock of Denmark, primarily for paint customers. With a vision to grow HPL expanded its range of products to include tapered pails designed and manufactured in-house to cater to customer requirements. Currently, it offers containers in the size of 1/5 ltr to 20 ltrs. In the years that followed, HPL set up production facilities at five geographical different locations and thus established national presence.
HPL started initially to cater to the packaging requirements of paint industry. Subsequently, it identified different industrial segments and added light- weight pails to cater to the requirements of chemicals and other industrial applications. The entire range of products has been designed and manufactured in-house. This product is also receiving increasing acceptance by different industries.
HPL later entered into a technical collaboration with M/S CHT Design Services Pty. Ltd, Australia to manufacture their patented design of 20 litre containers known as DG Pail. This product has found increasing acceptance by the lubricants, paints, chemicals, and food industries. It also offers a similar product of 10 litre capacity to cater to the above markets. HPL has continuously upgraded its product range and technology by investing in new moulds, machines and technical know-how.
HPL has during the years developed an in-house mould design facilities manned by experienced and qualified engineers who with the help of latest computer aided design hardware and software are capable of designing various sophisticated moulds to meet emerging customer requirements. It has established a modern tool room consisting of CNC lathes and milling machines for mould maintenance as well as for making new moulds.
To further consolidate its market share in polymer products, to broad-base the industrial service and de-risk its exposure to paint industry, in 2003-2004, HPL acquired companies manufacturing plastic rigid containers from 20 ml to 5 litres, under the banner of Clear Plastics Limited. Further, in 2006-07, HPL acquired companies manufacturing plastic rigid containers from 5 ml to 8 litres, under the banner Mipak Polymers Limited.
Company has equity of Rs.13.18crore, Promoter hold 66.50% stake, foreign investor hold 4.06% stake, non promoter corporate bodies hold 9.34% stake and public hold only 20.10% stake in this company.
In June Quarter Company has shown fantastic result, net sales zoomed to Rs.37.05crore from Rs.31.49crore while net profit zoomed to Rs.3.54crore from Rs.2.12crore. This regular dividend paying asian paints Group Company is available at dirt cheep rate.
Buy with stop loss of Rs.53, on upper side stock will go up to Rs.66 level, cross over will take it to Rs.82-85 levels in medium term while in long run stock will touch Rs.125 levels