@basumallick this is not the first time nor will it be the last time. Awarding EPC contracts to its own sister company, buying private jet disguised as a commercial airliner, selling a going concern for debentures to its own sister concern (what happens to the counterparty risk in this case of such a small company).
I do agree that it’s built into the price – that’s what I think each time and each time the management pulls a new trick out of their bag to further de-rate the stock. As buffet said, there’s never one single cockroach in the kitchen.
I am invested but suffice to say I am cognizant of these risks. As marlon brando said, “he could have been a contender”. Sintex could easily be a 20 % ROCE biz with 20 % EPS growth and trade at at least 12-14 x but no institutional investor will get confidence with things like these.
I intend to hold on and give it time though.
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