Discl
Hai investors I have had holding in this company believing in all the good things written in 2018 period and even have posted postive things ( confirmation bias) earlier. Sold all my holdings in loss and hence I may have negative bias.
First I did a scuttle butt to chamba one time when I was nearby and I can tell you yes there is a factory and people are working and producing
But the promoter has a very unique talent of siphoning money through various avenues ECB conversion of ECB and only companies which does not pay interest on ECB because they don’t have the investor information
Second they will use security premium account method based on a old court order for non payment of income tax
Third there sales is 60/70 concentrated to particular suppliers
They demerged one entity prakash pipes and trying out to be clean in that even there habit has started
They have all sort pending legal cases with DRI and ED under various allegations but non has been come to final so until proven not guilty
If u guys closely look at the balance sheet cash flow and promoter holding pledging method and how they convert ECB to shares how they issue conversion warrants and the equity dilution have happened and how the selling pattern happens when the market is in good mood it will give a more whole picture
I may be negative biased as stated in beginning so please do your proper checking before investing in such companies
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