Upon checking the case status and the orders so far one finds that it hasn’t moved since January 2023 and a few days after that last date one of its factories which the APPCB had targetted for closure got completely gutted in a fire, talk about coincidences!
In my view Clarios cashing out was just that, liquidating a non core non material investment for the PE Firm that acquired the battery div of Johnson Controls … I am not looking at it as my oh my a Big FII has exited the company…
As a minority shareholder I would look forward to the day when this existential crisis on the companys future by the APPCB is removed by the Judiciary… the management being content with letting the writ sleep since January 2023 and happy with interim stay does not bode well for me… As the petitioner in the two writs filed by them, they should persue the case aggressively until final orders stage…
I attended the conference call post Q1 and no question was asked of the case progress although my internal queries w.r.t. problems due to factory fire were taken care of … tubular batteries (ups?) division has been affected and the company is not expecting growth there…as Harsh righty pointed out, they are replenishing stocks at the dealer level through third party manufacturing… minimum 18 to 20 months until they can restart manufacturing in that plant and the other insurance money is tied to machinery and factory rebuilding
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