Well a lot of similarities with my portfolio, bought cosmic quite cheap and sold at 2.5x.
Invested in Shri Balaji Valves after visiting their plant in Pune, though the price at that price was quite high and it has fallen 50% from that price.
But the quality of management, the way they have organized their plant and their professionalism speaks volumes and they have a long way to go in future.
The CFO attended us for 10 min. Due to some other engagement which he had, he told his to CA to have a word with us. I have seen most of the companies that plan to go for IPO creating new conference halls and interiors as a way to ‘show off’. But these guys’ facilities were already in place and the office had good ambience. So perhaps they are giving importance to their white collar associates
I have seen a lot of small companies ignoring their office staff convenience and facilities and that becomes the prime reason for employees to switch. A lot of SMEs just even make containers / makeshift arrangement for office staff and accountants.
Talking of their plant, it was neatly organized. Techinicians were wearing helmet / ear plugs and other safety stuff even though a lot of them were unsupervised.
They have some spare land and plan to utilize it soon and they are going to get some Europian certificates soon. How soon, that we have to keep an eye.
Management was quite upbeat on their numbers and didnt disclose much. I observed a slight smile on them. Hoping that the smile gets converted to numbers!!
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