I had got the number from Related party transaction report
Standalone sales : 1002 Cr
Consolidated : 1164 Cr
Sale of subsidiries : Rs 597 cr as per Auditors remark.
So inter corporate sales should be : 1164-1002 =Rs 162 Cr
597-162 = Rs 435 Cr
Inter corporate sales should be Rs 435 Cr , however as per related party transaction details furnished by the Company it is not matching up.
Best Agrolife standalone Sales of Rs 1000 Cr is purely trading sales as it is only a trading Company .All manufacturing sales are from subsidiaries, however figures are not matching up.
It reminds me of Manpasand Beverages:
On a consolidated sales of Rs 1164 Cr if around 1000 Cr are trading sales, what valuations should it command ???
Further trading margins are generally 3 to 5% whereas in case of Best Agro it is substantially high.
Disclosure : Invested with a small tracking position.
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