According to Ghosh, the basic utilisation of the profit will be to reduce the borrowing in the company's Singapore level. "Approximately Rs 130-140 crore debt reduction will be there and we will definitely reduce the overall debt burden of the company. As a result, there will be a bit of an interest pay out as well," Ghosh adds.
He further adds that one good thing in the entire deal is that the company has made a profit of almost USD 2.5 million, which will be recognised in the parent company through a subsidiary profit and in Singapore this is a tax free profit.
Apart from that, Ghosh says the fund that company raised in Singapore, the main companies have given a corporate guarantee of around Rs 130 crore, which will also get released. "So, this will be our big relief to the main company balance sheet and at the same time this will be a profitable exit from my overseas investment," he adds.
Mcnally Bh Engg stock price
On January 30, 2014, Mcnally Bharat Engineering closed at Rs 54.35, up Rs 0.20, or 0.37 percent. The 52-week high of the share was Rs 94.40 and the 52-week low was Rs 37.00.
The company's trailing 12-month (TTM) EPS was at Rs 8.73 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 6.23. The latest book value of the company is Rs 126.18 per share. At current value, the price-to-book value of the company is 0.43.
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