With Deloitte being their statutory auditor, personally I dont see related party transactions as much of a concern. The promoters / company are here for longer run and looking at much larger picture rather than impacting their goodwill with smaller gains by unethical means.
Buying of plastic division with almost 65 cr PAT at Rs 800 cr is 12x PE multiple – which is not unreasonable. This deal is also a mechanism to increase promoter stake – as ARBL is not paying cash for this acquisition. Promoter increasing their stake inspires more confidence.
Nalanda Capital (repuited Private equity) holding almost 10% stake gives strong comfort and clears checklist in terms of corporate governance and management.
Disclaimer : I am invested hence maybe biased.
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