@abhijitjph Though I agree with your statement, it would have been better if you had elaborated on why you think so, rather than just providing a one-liner.
One more reason to be bearish on EMT: the new acquisition—30% of the paid-up equity shares of Rollins International Private Limited for a value of INR 60,00,00,000 (Sixty Crores). Rollins operates in the wellness and healthcare industry, focusing on gluten and lactose-free foods, allergen-free supplements, and technology-driven health solutions. This is completely unrelated business line.
Turnover of Rollins:
FY 2023-2024: 2134.98 (audited) – should ignore the latest one; it seems inflated.
FY 2022-2023: 938.06 (audited)
They paid 60 crores for a 30% stake, valuing the company at 200 crores. Hence, they paid 21.32 times the sales of FY 2022-23.
I started the post of easymytrip, invested significantly, and exited timely post-GoAir issue (& because of it). Everything is documented in the above thread. I would put my neck out and say, “Iss stock may fasna mana hai.”
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