D-Link In­dia Ltd: Build­ing net­works

(BSE Code: 533146) (CMP: Rs.75.65) (FV: Rs.2)

Money Times - - Stock Buzz Market Review - By Subra­ma­nian Ma­hade­van

D-Link (In­dia) Ltd, a sub­sidiary of D-Link Hold­ing Mau­ri­tius Inc. (100% sub­sidiary of D-Link Cor­po­ra­tion), mar­kets and dis­trib­utes net­work­ing prod­ucts in In­dia and the SAARC coun­tries. It of­fers ad­vanced net­work­ing, voice, broad­band, dig­i­tal and data com­mu­ni­ca­tions so­lu­tions. Its prod­ucts ex­tend across all ar­eas of net­work in­fra­struc­ture in­clud­ing switch­ing, se­cu­rity, wire­less, IP sur­veil­lance, stor­age and struc­tured ca­bling. Its prod­uct/so­lu­tions port­fo­lio con­sists of end-to-end net­work­ing prod­ucts which in­clude 3G, broad­band, IP sur­veil­lance, net­work se­cu­rity, net­work stor­age, switch­ing, rout­ing and wire­less LAN.

With a small eq­uity of Rs.7.1 crore, D-Link is ex­pected to gen­er­ate an in­come of Rs.780 crore in FY18 as against its cur­rent mar­ket cap of Rs.269 crore. Ini­tia­tives taken by the Gov­ern­ment of In­dia like IT Net­work­ing, Dig­i­tal In­dia and Smart Cities cou­pled with the tele­com rev­o­lu­tion brought about by Re­liance’s Jio au­gurs well for the com­pany. Be­ing a reg­u­lar div­i­dend-pay­ing and debt-free com­pany with pos­i­tive cash flows backed by a strong tech­ni­cal par­ent, DLink is avail­able at an at­trac­tive val­u­a­tion. The stock has the po­ten­tial to cross Rs.100+ within a year.

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