Buy Gallant Metal with a price target of INR 65 in short term and INR 110 in longterm

Gallantt Metal Ltd has announced the Financial Results for the quarter ended December 31, 2009.

The Net Sales was at Rs.118.81 crores for quarter ending on 31-Dec-2009 as compared to Rs.69.12 crores for quarter ending on 31-Dec-2008. The Net Profit / (Loss) was at Rs.9.98 crores for the quarter ending on 31-Dec-2009 as compared to Rs.0.46 crores for quarter ending on 31-Dec-2008. The EPS was at Rs 1.23 for the quarter ending on 31-Dec-2009 as compared to Rs 0.06 for the quarter ending on 31-Dec-2008.

The Net Sales was at Rs.321.27 crores for 9 months ending on 31-Dec-2009 as compared to Rs.355.40 crores for 9 months ending on 31-Dec-2008. The Net Profit / (Loss) was at Rs.19.58 crores for the 9 months ending on 31-Dec-2009 as compared to Rs.17.22 crores for 9 months ending on 31-Dec-2008. The EPS was at Rs 2.41 for 9 months ending on 31-Dec-2009 as compared to Rs 2.12 for 9 months ending on 31-Dec-2008.