Chamanlal’s number for last few quarters have been impressive…if one observes the longer term trend then it looks like the company has set the Qtrly base of 300+ Cr. I have been invested in it for several years now and this is how they have grown…every few Qtrs they increase their sales and then that is maintained as the next base…they keep adding more countries and customers. Though the margins have been on the lower side…but that I feel is the nature of this industry.
I really like and appreciate the lean balancesheet that this company has maintained for last so many years…throughout so many cycles in rice industry. Comparing it to other listed rice players their return ratios & cashflow generation has been quite good. They have been posting 100+ Cr PAT for last 3 years now and have been able to grow the size of their business volumes.
Regards,
Yogansh Jeswani, CFA
Disclosure: Invested
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