I read @Chandragupta ji’s thread earlier and it was on my watch list. The recent sharp rise in the stock price caught my attention. So I dug deeper into their last few years annual reports and did some research on their recent top level management changes. Mr. Deepak Chhabra, who was earlier with Tupperware India has joined the company in 2022. https://www.linkedin.com/in/deepak-chhabra-37526310/?originalSubdomain=in. The parent company has about 75% stake and infused capital through Cumulative Redeemable Non-convertible Preference Shares during tough times. The parent company is very bullish on the Indian market and launched many international brands in the last couple of years.
The company has reported strong quarterly numbers in Q2FY25. Post this result their reserve has turned positive after a very long period. The management has taken several steps to revive this company in the last couple of years which has started yielding results. The company has recently refinanced part of its existing Cumulative Redeemable Non-convertible Preference Shares (13.88% CRNCPS) with lower cost CRNCPS.
Disclosure: I own shares in the company
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