I have this gut feeling that there is something brewing in this share script. Firstly promoter increases stake all through last year. They come out with this new website, where there is mention of this new vertical of FMCG (reading coming soon), but unfortunately no announcement or news of the same.
Then if you look at the client list for the textile vertical you have macy’s, H&M, IKEA and so many international brands , looking at the chemicals vertical it is a major producer of sulphuric acid with client list including luminous, exide and others. Then there is paper and energy as well.
Fundamentally looks decent and I can visualise a growth in the business and valuation in the near future.
Downside for me is huge equity of nearly 500 crore, although good promoter holding of 72 percent. In the month of May there was announcement of a 500 cr cash generation with further equity dilution.
Thoughts please !!!
