Associated alcholols & breweries ltd

After seeing the half yearly result there is following points
For growth
3 year sales / profit growth > 7 yr sales / profit growth this will show that a longer period time the growth is sustainable and there is no negative growth in 7 years

For returns
Average ROE 3yr > 12 and TTM ROE > 17%
AVERAGE ROA 3yr = 10 and TTM ROA > 13.5%

For capital
Average ROCE 3 yr > 11.5% and TTM ROCE > 16%
ROIC > 18%
Days receivable in outstanding < 40
Inventory days < 40
Current ratio > 1

Debt management
Debt< Debt 3 yrs back DER < 0.7 Z SCORE > 2.9

Capex growth
Net block > Net block 3yrs

Promoter
Holding increased in last 3 yrs by open market > 5.5
No dilution no bonus no pending warrant no preference capital

Sector

Has problems with government but potential to grow

Promoter quality

Not fully known but no history of non compliance no pending investor compliant and dividend started
No web site

Now as regards the remuneration part I feel that the three people put together that is Prasanna Kumar Sushil Kumar and Ashish Gadia are taking a major chunk nearly > 60%
But the good thing is they have declared it in the PL and even after huge employee cost they are able to show adecent profit in the Pl the cash flow has improved the loan and advance is reduced
The bank grantee of 30 cry to third party has to be understood

And finally as regards the investment made by them in Narmada distillery and Mount Everest has to be clarified

Finally as retail investors we should understand that when HNI like Ayush Anil Kumar Goel dolly Khanna make some investment there financial capacity to hold there ability to cut losses there timing and long term view above all there temperament is different from retail investors
As retail investors we shoul thank them for sharing there perspective on a particular company
Now by fy 17 we can finally say that this is a valuable find if same growth is maintained and promoter clarity comes that I think Ayush has nicely summed up as work in progress watch it for growth and any dieviation
Thank you