FY24 AR highlights the increase in distributors and unique investors

Latest blog on Windlas Biotech by Congruence Advisors

Hope you find it useful.

Just sharing. Not invested as of now

At 31% of holding, shouldn’t the number of shares held by MFs be approx 60 crores, considering outstanding shares are 196 crores?

Manali Petro cmp 95. Along with all other chemical stocks this too went down after posting an all time high of 149 in April 2022 and went down to post a low of 56 twice in March 2023 and March 2024. It formed a double bottom at 56 and a confirmation of double bottom breakout was made on breakout and trading above 87. If double bottom plays out, then target can be 118.

Coming to daily chart, there is an inverted head and shoulders marked on right side of chart. A small flag breakout is marked on right side of chart which has happened after double bottom breakout. Another small point to note is a gap down area between 93 to 86 posted in Nov 2022 and which has as of now been negotiated with stock price crossing the gap down area.

Some chemical sector stocks are offering tradeable set ups. Whether this is a resumption of uptrend previously seen, or just a counter trend rally needs to be seen.

Company has applied for Anti dumping duty to govt for one of its products and if govt approves it, it can be a big trigger.

disc: invested as a trading bet. (not a recommendation, please do your own diligence if investment is considered.) Shared because the chart contains multiple technical patterns within same chart.

good question, understanding management can be tricky, but you need to look for obvious reasons and make up your mind by observing their actions periodically. In case of SOM, i came across multiple discrepancies and here are a few:

1. The CMD is likely giving paid interviews which are one sided and hardly any tough questions are asked during interviews.
2. Despite producing excellent results, people lack trust/confidence in their corporate governance practices. They recently devalued investors stake in their subsidy without the investors consent.
3. They may or may not be on the good books of the state govts they work with. highly unpredictable business. Possibility of huge bribe involved to run their day to day operations. There have been multiple raids at their complexes.
4. Things like child labor, even happening at their associate company, shows the attitude of the management and the malpractices they are open to. There might be 10 other hidden malpractices going on which haven’t surfaced yet.

Beware of such management, don’t invest your money into any company where you see even 1 red flag with the management. Here i see multiple red flags over a period of 2 years of keen observation.