They sold Gandhidham to repay debt and then again bought new land (50 acres) for new plant which has been stalled – or at least nobody knows as the company is not transparent or does not think that retail shareholders need to know !!
They are setting up new plant in Egypt when Dubai plants are not utilised… USA plant doesnt yield much – sales and profits are a seesaw… Dont know why arent they selling it… maybe no buyers!! The worst capital allocation… they should have used cash to pay dividend or buyback…
Inspite of all of these share price jumps up 25% in a few days… then most likely to correct to 120 levels and then again move up…
Total shares of company is about 11 cr of which 33% is free float 3.3 crs. Total shares traded for delivery is 5 crore shares in past 6 months !!! 1.9 cr shares in Feb alone.
https://web.stockedge.com/share/everest-kanto-cylinder/5651?section=deliveries&exchange-name=Both&time-period=Monthly
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