As per Anual report:
“The Company has outstanding FCCB of US$ 10.80 mn, which are convertible into shares on the exercise of the conversion option by the bondholders. The FCCB have maturity date of 15th January, 2023 and carry interest @5.95% p.a subject to condition in the subscription agreement. Interest of 2,103 lakh is outstanding on account of non furnishing of correct bank account details by the bondholders. The Company has complied with all the financial covenants and undertakings with respect to the outstanding FCCB.”
As the bonds have not been converted, it would have been paid on 15/01/2023. The debt of the Company would have been reduced by around Rs 110 Cr (Principal + Int).
Its good that there is no dilution.
Valuations of the Company are cheap, however Corporate governance issues are making a huge dent. But its good that there have not been any new issues during last 3 to 4 years.
The new generation seems to much sensible and hope that things will gradually improve. The Company and present stock price has huge potential to become a 3 to 4 bagger from here, which will still be lower from the highs of 2018…
New generation is Vikram Agrawal.
https://www.linkedin.com/in/agarwalvikram778/
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