What prompts you to guess that the promoter is not going to be shareholder friendly ?
If your view is that 300 Cr cash on book is too much for 800 cr networth company, it should be noted that most of this cash is accumulated in the last 2 financial years due to huge profits compared to historic average. The company has consistently maintained dividends of 20%(which is ok for a company which had no excess cash but some debt till FY20) and RoE of 16%.
I find the management very sensible in deploying some of the cash when they decide to go for 8.4MW rooftop solar power capacity in their Dindugal manufacturing plant.
@alokinvestor is right. At 1 X P/B, 1 X P/S, 3 X EV/EBITDA, 2.5% dividend yield, it is undervalued.
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