Certainly, it’s difficult to evaluate a company and it’s promoters when much information is not shared with shareholders, and the same is also not available on other platforms. And this is the case with FM. They do not provide detailed strategic/future plans in their annual reports, and investor Concalls are also not conducted. Also, it’s become more difficult when an investor comes to know that:
- Promoters do not care much about keeping retail investors informed.
- The promoters have a vested interest in another automobile company (Jaya Hind Private Limited), and some of the investment (JV) formed by JHPL and BMW might have been brought under the umbrella of FM, which could have given more value to FM. The rationale behind such acts may raise some questions that do not get prompt replies from the management.
(https://www.autotrack.ind.in/post/significant-collaborative-venture-between-bmw-jaya-hind-industries-private-limited) - The promoters are also directors of EKA Mobility (Pinnacle Mobility Solutions Private Limited), which is a related party (sudhir mehta is the son-in-law of Abhay Firodiya), and their business operations seem to be in the same segment (EV).
(EKA 9 bus - EKA Mobility)