About the company
Incorporated in 2001, Salasar Techno Engineering Ltd is engaged in manufacturing galvanized steel products. Company's products include telecommunication towers, power transmission line towers, smart lighting poles, monopoles, guard rails, substation structures, solar module mounting structures, and customized galvanized and non-galvanized steel structures. It also offers engineering, procurement, and control services for rural electrification, power transmission lines, and solar power plant projects. In addition, the company undertakes civil foundation works, and erection of telecom and transmission towers at site, including painting, as well as EPC turnkey projects for solar mounting structures. STEL’s services include providing complete engineering, procurement and control for projects such as Rural Electrification, Power Transmission Lines, and Solar Power Plants. The Company exports its galvanized products to South Africa, Myanmar etc.
Considering the P/E valuation on the the price of Rs. 108, the stock is priced at pre issue P/E of 5.13x on its FY17 EPS of Rs. 21.04. Post issue, the stock is priced at a P/E of 6.84x on its EPS of Rs. 15.78. Looking at the P/B ratio at Rs. 108 the stock is priced at P/B ratio of 1.12x on the pre issue book value of Rs.96.25 and on the post issue book value of Rs. 99.19 the P/B comes out to 1.09x.
The company is a provider of customised steel fabrication and infrastructure solutions in India for Telecommunication Towers, Transmission Towers & Substation Structures and Solar Module Mounting Structures. The Company has a strong customer profile and caters to the leading names in India. These relationships have allowed is to carry out massive touchstone projects such as establishing Transmission and Substation for U.P . Power Transmission Corporation Ltd, Tata Power Delhi Distribution Ltd., Unitech Power Transmission Ltd., executing orders of Telecom Towers including erection of towers for ATC India Tower Corporation Pvt Ltd, Indus Towers Ltd, ATC Telecom Infrastructure Pvt Ltd, Bharti Infratel Ltd, Reliance Jio Infocomm Ltd, Tower Vision India Pvt Ltd, Viom Networks Ltd, and supplying Solar Mounting Module Structures for Jakson Engineers Ltd, Prayatna Developers Pvt Ltd, Welspun Renewables Energy Pvt Ltd., Insta Power Energy Efficiency Pvt Ltd etc. An investor with long term view may invest in the issue.
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