Cheviot Company Limited

Established in 1897, Cheviot Company Limited is a flagship company of Group Cheviot. The company is engaged in manufacturing and sale of jute goods like Sacking, Hessian and Yarn. Located in West Bengal, the company is recognized as a Trading House by the Government of India. The company deals in jute goods like: a) Jute Shopping Bags: The company has a huge collection of jute bags which are mainly categorized as promotional bags, fashion bags, beach bags, bottle bags, utility bags and cotton bags. b) Jute Products: The company manufactures Jute Yarn or twin yarn, Hessian bags and Sacking bags c) Jute Decorative Fabrics: These decorative fabrics have high tensile strength and are resistant to heat and fire. The company also offers blended jute upholstery.  The Co. has export presence in several countries including Belgium, Netherland, Germany, Italy, USA, Saudi Arabia, Turkey, Japan and Indonesia.  The financials of the company is almost static, RoNW is 11.6% and at CMP its looks fully priced. Price difference is around 20% from CMP and acceptance ratio as per current share holding for retail will be around 3%, so final buyback ration may be within 10% and one may get around 1-5% on investment. So we give NEUTRAL rating to this buyback, those who are currently holding may participate in buyback.

• 1 Mr. Rajesh Pirogiwal
• 2 Mrs. Sunita Pirogiwal
• 3 Miss Tanvi Pirogiwal