There’s news of Corporate Governance issues with this company few months back which was published in the Moneycontrol Website.

The edible oil business is mustard oil. 60% of the crushed seed will go into making oil cakes that would be sold as cattle feed to farmers. The mustard oil will be sold through Annapurna’s own and Arati’s current distribution channel and would fetch 5-6 cr per month in revenue. I dont think it would be used in-house.

Promoters holding has reduced significantly.

Muthoot Microfin, I feel has good growth story ahead, Here are my thoughts about it:

1. Last year they had 163 Cr Profit. This year they will clock close to 500 Cr.
2. Currently it is having a PE of 23 as per Screener, after they report annual results it will be close to 8, that will be dirt cheap.
3. Recently they got 750 Cr in IPO money which is not costing them anything. so considering any Microfin charges 22-23% interest, they are set to get additional 200 odd crores of profit.
4. They are expanding beyond Kerala and hopefully that growth will add additional headwinds.
5. Whatever i read about the group, looks like they are honest set of people.
6. Also, CEO is a professional and not from family which i feel is additonal plus.
7. Family holds good amount of holding, meaning skin in the game.
8. If i look at the other listed players, this stock should be going to around 20K crore market share easily in next few years.

Disc: No recommendations, i am invested.

Welspun Corp Limited has announced that its wholly owned subsidiary Sintex BAPL has finalised an investment of upto ~Rs 807 crore to set up manufacturing unit in the state of Telangana through a wholly owned step down subsidiary, Sintex Advance Plastics Limited (SAPL), which will be spread over the next three financial years starting from FY25. The project will be funded through a combination of debt and equity.

The proposed investment is for manufacturing ~59 KMTPA of plastic pipes, ~5,300 MTPA of water storage tanks and ~8,900 MTPA sandwich moulded tanks. The pipes and fittings would include CPVC, UPVC, HDPE, and OPVC pipes and shall cater to the exponentially growing water distribution segment.

Source: Sintex BAPL to invest Rs 800 crore+ for new manufacturing unit in Telangana