Spindex Industries was founded in 1981. Today it is a highly integrated solution-provider of precision machined components and assemblies with manufacturing locations in Singapore, Malaysia, China and Vietnam. The company serves diverse market sectors consisting of MNCs in imaging and printing, domestic appliances, consumer electronics, data storage, machinery, automotive systems and telecommunications. It groups its businesses into 3 segments; namely, Machinery and Automotive Systems (MA), Imaging & Printing (IP), and Others.
Spindex released its 1H 2016 results on 2 February 2016. It was an impressive set of results with revenue increased by 13.75 and net profit increased by 29.6%. Spindex has a strong balance sheet and very healthy cash flow. EPS for 1H 2016 is 6.29 cents while NAV is 75.20 cents. At the last traded price of 64.0 cents, the key extrapolated financial ratios for FY2016 are as follow:
PER - 5.09
P/NAV - 0.85
ROE - 17.3%
Dividend yield - 4.4%
P/Net-net current assets - 1.69
Spindex's key financial data for the last 9 years (extracted form data maintained by Shareinvetsor.com) are as follow:
I own some Spindex shares at average cost of about 62.9 cents per share. Though the dividend yield is less than my target of 6.0%, there is no reason for me to divest the shares now as it is a very well managed company and is doing well despite of the unfavorable market condition
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