Best summary of this thread in a few lines.
Please see attached if anyone is tracking… More or less one the same lines as post results press release… (disc: exited at loss)
Please share your thoughts / read between the lines.
Also, is there a way (then pls explain) we can raise this issue to SEBI for non-reporting of results / business update? Does it count under ‘case worth investigating’ for them?
OMKAR reply - Feb 2018.docx (20.0 KB)
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At this price company started to look a value buy. I make myself comfortable when management itself participate in equity raising which they are doing by converting loan to equity however it will have negative effect on Sharecapital( conversion price will be key here) but it will be benefited for the company in long term.
Disc: No holding as of now.
From the beginning to end, most of the discussion has been around the shady behavior of management and rightly so, this is one of the most commented threads on and many people kept highlighting the nonsense which promoters kept themselves busy with, how many times did they buy and sell shares? how many times they just kept transferring shares among each other? it seems like they were more interested in trading rather than running the business itself. And what’s surprising is, people still have faith in this counter. A good management can turnaround the fate of a bad business, but bad management will take even a profitable business into the ground.
Discl : was considering to invest in this company but looking at the history of promoters, changed my mind, for both OSCL and Lasa
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what you are saying might be right. what I am banking on is Mr Pravin Herlekar. He started this company in his kitchen. built it into a multi crore company.Its one of the respected chemical company. if i would do it, my company would be my baby. I would do everything to save it. yes the company is under capital stress. lets see how story unfolds.
disc- invested. views maybe biased.
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@valuestudent now what is your call on the company based on the present scenario and the current market price?
Disc: no holdings
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Although not very keen to discuss individual stocks, this one I have debated for long so I feel comfortable answering.
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They had delayed their reporting of results from December to Feb. This itself is a very big red flag. No company doing business as usual will defer results. It is always anyway a good idea to exit any stock where results are delayed for any reason and not declared during the normal reporting time period. The promoters knew exactly what they were doing. I wonder why such frauds are allowed to go on and on.
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The huge inventory write off is also a scam.
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Please read the auditors report which is part of their filing: https://www.bseindia.com/xml-data/corpfiling/AttachHis/4c58d691-abb5-4e32-8c2a-552cb7e9b108.pdf. Here the auditor has clearly mentioned that OSCL now has a negative net worth of 71.71 crores. So basically it is beyond bankrupt. There is no value that can be assigned to a company with negative net worth. This stock is worth 5 paise because it needs a trading price. That is all.
I trust this helps.
EDIT: Please read this by @amilshah264: Omkar Speciality Chemicals Ltd -- OSCL. He has given a very crisp and detailed answer after the results.
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Loan from bob declared npa
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https://www.bseindia.com/xml-data/corpfiling/AttachLive/64d56205-b56e-4a21-b5cc-565148e5edd0.pdf Any clue how much is the amount?
Hi,
I booked huge loss selling all my shares at 9 Rupees. I wish I could have waited more.
But seriously there is no scope in this stock. Reduce your holding whenever possible and save your investment.
I too have sold at loss. better to stay away from such management whoes intention are bad.
Better to stay away from such companies. BOB declared it as NPA. So no scope at all. Will go down for sure.
Anyone can share Concall details please?
It’s available on research byte
Not sure whether anyone is following on Omkar Speciality but cam across 2 articles on the demerger and the impact of the demerger not unlocking any value for any of its stakeholders. Lot of money raised and shares pledged in the past 5 years and still not able to run the business.
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Omkar Specialty chemicals – simplifying it’s corporate structure - Article on 2015 demerger transaction
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Omkar Chemicals Demerger: What went wrong? - Impact after 5 years.
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Father & son duo took the shareholders for a good ride… now hopefully some justice can be done.
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