Posts in category All News
POKARNA LTD ( Stock opportunities ) (15-09-2015)
Granite mines are not be confused with natural Quartz mines. And also, they pay royalty to Govt for their Granite mines.
Disclosure: Invested, could be biased.
POKARNA LTD ( Stock opportunities ) (15-09-2015)
Looking at pokarna's precarious financials over the years, I am wondering how they got the money to buy these - they have been in debt and hardly have had cash. who are these supplier mines - why did they choose pokarna ? why can't they themselves forward integrate and do this
The toughest is to get a quartz mine - not process it - sort of similar to cellular spectrum. once you got the spectrum, equipment and all else only make a marginal difference.
for any mineral, getting access is the biggest moat - not processing it. AFAIK, this brettton stone etals is good marketing spiel but the real question is how do they get such low cost quartz and if they had all of this before, how did things change only in 2014
FDI policy: Govt permits foreign investments through partly paid shares (15-09-2015)
Government has permitted foreign investments through partly paid shares and warrants in a move to facilitate FDI in India.
“The government has reviewed the provisions of the extant FDI policy…and it has been decided to allow partly paid shares and warrants as eligible capital instruments for the purposes of FDI policy,” the Department of Industrial Policy and Promotion (DIPP) said in a notification.
An official said that the nature of these instruments are also of equity and the move would help in attracting FDI.
In a separate note, the DIPP has clarified that the facility sharing agreements within two group companies will not be treated as real estate business provided the arrangements are at arm’s length price.
“Facility sharing agreements between group companies through leasing/sub-leasing arrangements for the larger interest of business will not be treated as ‘real estate business’ within the provisions of the Consolidated FDI policy circular of 2015,” it said.
These would be subject to the condition that “such arrangements are at arm’s length price in accordance with relevant provisions of Income Tax Act 1961 and annual lease rent earned by the lessor company does not exceed 5 per cent of its total revenue,” it added.
The government is taking several steps to boost FDI. It has relaxed FDI norms for sectors such as medical devices, defence and construction activities.
During April-June quarter of this fiscal, foreign direct investment into the country grew by 31 per cent to USD 9.50 billion.
POKARNA LTD ( Stock opportunities ) (15-09-2015)
Hi, good question. I cant confirm but I think they dont have a quartz mine yet where they can mine, they have applied for a license of quartz mine, its under process. Currently they source the qurtz from a supplier mine close to Vizag.
And PESL is like a factory, not a mining subsidiary as you think , it processes natural quartz material into a manufactured stone. Please read more about how Quartz stone is made.
And the company is 2-3 decades old, I believe they have acquired and developed granite mines over the years, but I think its good to ask them.
Thanks-Mahesh