Gujarat Apollo Industries Limited

Gujarat Apollo Industries Ltd. hails from Mehsana district of Gujarat and is the flagship company of Apollo group of Industries. Established around 50 years ago, Apollo group has catered the Earthmoving industry in India and abroad with its high quality products and world class after sales services. With the equipment technology being refined through years of experience, as a part of continuous improvement of product and processes, Gujarat Apollo continues to provide state of the art and technically savvy crushing and screening solutions serving industries like quarries, mining, construction and recycling. The company is backed by a strong team of after sales service engineers offering the best level of comfort to the customers on product life support. With the widest range of equipment offered Integrated Static and Mobile Crushing & Screening solutions and other Allied Equipment along with main business verticals for over four decades unlocking value proposition with ethics and integrity. The financials of the company is average, RoNW is 3.51% and at CMP its looks fully priced. Price difference is around 2% and acceptance ratio as per current share holding for retail will be around 7%, so we may expect the final acceptance ratio may be around 15%. So we give AVOID rating to this buyback.