Tips - April 12th, 07 - Emkay

Sujana Metal Products Ltd.
(Rs 131, FY08E - P/E - 6x, BUY, Target Price Rs 215)

> De-merger/Merger –Gets court Approval

> Business Outlook and Valuation.
We continue to remain positive on Sujana Metal Products and expects the stock to
be re-rated following the de-merger proposal.

At Rs 131 the SML stock trades at a P/E 6x on FY08E on consolidated EPS of Rs
23. We maintain “BUY” on the stock with target price of Rs 215.We had earlier
initiated the call of Sujana Metal at Rs 109.