I recently sold all my holdings in Deep Industries because of the following reasons
- ONGC has put Deep industries in ban for 2 years (Source:- as per data on ONGC’s website)
- Deep is not co-operating with CRISIL in providing the required data. Is this due to fear of possible downgrade? (Source:- Latest note released by CRISIL)
- Balance sheet is missing from the Q3 FY18 results.I am not sure if this is a regular practice but this has invoked scepticism in my mind as to why would a company not present it’s balance sheet along with the earning statement. I feel an earning statement which is not accompanied with a proper balance sheet is meaning less.
Request members here to clarify my doubts if they have any information that I might have missed.