I couldn’t buy it last year as there was continuous upper circuit and no sellers for a long time. I was interested in it seeing their expansion nearby so invested in the sister company ACML.
Some of the things that bothered me at the time were:
They were continuously increasing debt for expansion.
They were doing buyback when they could have
used that money for expansion or reduce debt.
After doing buyback the promoter and their relatives cornered the float with less than 8% float available for trading. This is the reason I couldn’t get the shares. Some of the promoters have started selling recently which will increase the float now.
The director’s remuneration was very high compared to employees. This might be common in small companies.
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