Ladies and Gentlemen. Finally forum page created for LASA. Please contribute on Lasa there and on OSCL here. Thank you.
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On OSCL, I was also very impressed after meeting with OSCL Management (Pravin Herlekar), but I personally feel the debt burden is not easily curable. This is just my personal opinion. Not that it means it is not curable. I would like to see them take steps that actually heal the balance sheet.
They have announced that there will be a rights issue; we need them to do the rights issue, lets see what funds are collected, and how they are allocated. That is my only worry on OSCL. Rest, as we all know they have a good business.
Disc-I have a while ago exited OSCL awaiting either a better risk reward price or execution on the publicly stated rights issue. We might know better after the AGM.
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The below is what is my opinion on OSCL. They need to follow through with the rights issue. I want to see the price of the issue (as that will show us the amount of equity dilution we can expect and it’s impact to my EPS as a shareholder), and further use of funds. I exited because; when in doubt, tune in later. I continue to follow the story and may buy anytime when it makes sense or never if it does not. The debt is quite high. This will be a turnaround story if handled very well by Mr. Pravin Herlekar.
Why is that the Promoters are not considering issue of share warrants to themselves as they already have advanced large amount of money as interest free loan? This will enable them to increase their holding and reduce the debt.
There is another pledge by Mr Pravin Herlekar as reported to the exchanges.
This time it is 60000 shares in favour of Reliance Securities forming 0.29 % of share holding.
Apparently this is for the additional margin (potential against drop in Share price)
http://www.bseindia.com/xml-data/corpfiling/AttachLive/272081d0-5872-4332-a71d-7fb225b1cec4.pdf
JP
It would be helpful if anyone could provide transcript of the AGM held on 27/09/2017
Regards
Aditya
Please find attached their filing. No detailed information though. Just the information on resolutions passed.
http://www.bseindia.com/xml-data/corpfiling/AttachLive/a96aa2f0-65cd-4ef2-bcf3-55bfd8181a1a.pdf
A new patent is granted to company for “PROCESS FOR TERMINAL DIHALOALKANE”.
http://www.bseindia.com/xml-data/corpfiling/AttachLive/82b235ee-f69c-45cf-8a43-6a4f6edac096.pdf
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Omkar-Speciality-Chemicals-BL_230.50Cr-Revision-Rationale-3Oct2017.pdf (408.5 KB)
BW has downgraded the rating to D . Pl go through the rating rationale . Similarly Crisil has also downgraded to D(sighting liquidity crunch ). Need to cross check with the company .
The way these father son duo have been selling their shares and promising the moon to the investor and frequently shifting the goal post, by not living upto their promise of not selling promoters shares, etc. and now with downgrade citing delayed interest payments on loans, OSCL and LASA looks totally fishy to me. I would very very careful and sceptical in these two cos.
Disc: No holding
Hi,I agree the down grade is of OSCL but to me it seems that both these father son duo are hand in glove. As per Omkar own admission the capacity utilisation of Lasa at present is around 45% why would he need to set up a 5th unit. Further the start date as per him was to be some time back but still not started. The entire thing looks v fishy. Just advising caution.Bests
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What kind of horrible job these rating agencies are doing and that too after charging fat fees? So many companies are under insolvency and these rating agencies couldn’t see it coming and in many cases withdraw their report or discontinued rating at the terminal stage on one or the other pretext.
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Pravin Herlekar de-pledged 8,60,069 shares from Reliance financial limited today
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All Chemical Companies and Super Speciality Chemical Companies have seen huge run ups this year due to favorable business environment but this stock has been stuck at these levels since 2015.
Price was some 200 odd in 2015 and now the price of Omkar + Lasa combined stands at around 220 levels.
The stock has been off the investors and institutions radar but requires a re-rating.
In sky-high marker when valuations of all companies are over stretched, this company is available at a P/E ratio of just around 5 if i am not mistaken.
Can be a huge investing opportunity, but comments from senior members invited before going in for it…
Read the full thread there is a reason why its trading at low PE and if you think it will run fast maybe you will be disappointed , so read the thread fully and understand why its trading at these levels and if convinced take a call rather than jumping into it just because PE is low
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Today(24/11/2017) there was a disclosure that Promoter of omkar specilaity chemicals Omkar P Herlekar have been pledged 14,17,200 shares. how come still omkar p herlekhar is promoter of omakr specilaity chemicals? company already informed that omakr o herlekar is not in the promoter group
Can you send the link of above news.