There are a couple of developments in the stock today.
1)They released their annual report which says no dividend for this year,which is strange because they tripled their profits and have always paid dividend for the past 10 years(except one year).I was hoping for a buyback because they were at peak promoter holding.They are 50 year old company with other group companies rated at A,A,BB .
2)They want to increase their revenue by 2025 to 1600 cr from 1150 cr now.
3)They have investment and cash of around 900 crore,which could go up in a couple of years depending on market situation.Let us assume it up by 50 percent,it would be around 1350 crore and the remaining business would also add value to the market capitalization.This is not a holding company.
Their present P/E is 3.10 .I feel this has sufficient margin of safety.
Disclosure:Invested.
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