It seems to me that Rubfila is in a sweet spot currently – latex prices are quite low (which should boost their margins) and paper/pulp prices continue to be high. I am not sure if that is true for tissue paper too (haven’t checked prices recently), but I assume it must be the case. Two things that make me nervous 1) overhang of issuing warrants to promoters at discounted prices, which I hope will not happen again now. 2) Porinju’s firm investing in it (maybe in this case, given he is from Kerala, he genuinely thinks its a great opportunity). Disclosure: Invested.
Question – does anyone know who the major customers are for their rubber threads?
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