Paushak Ltd. - Alembic's agrochemical business


#21

kalyan,

There are only 32 lacs shares and again 67% is with the promoters. It is very small company and you will get liquidity when it grows. As of now, you need to SIP only. These kind of companies are best to buy when there is a big fall. Just put the price and forget and you need to keep on trying because of liquidity. Your allocation has to be minimal here becoz of liquidity. FV 400-450


(Nikhil Jain) #22

What if someone is trying the same thing as you? Which is staying on top in buyers list


(JKS) #23

Then my bid will appear first and then, there will be a reaction to it, with the next higher bid. At least for a moment, I will be able to see my order come in before someone reacts with a higher bid. In contrast to that, what happens now is, my bid does not even show up; before that, this mine + 0.05 bid shows up; if I revise mine, again the same thing, what I put plus 0.05 and so on…


(Aksh) #24

I’ve also observed that many a times in many scripts…It might have something to do with use of algorithmic softwares?


(RAHUL KUMAR) #25

The trade receivables seems too high at almost 30% of annual sales …

Also who are the customer of the company ? Is the Alembic Pharma also one of the customers ? Whether transactions are on arm’s length?

Otherwise the story looks quite good!!


(RAHUL KUMAR) #26

Also, if the imports or transportation is an issue …how come the company is exporting the same ? :wink:


#27

End product is not phosgene but phosgene deriatives. Please visit thier website for more info


(Ravenrage) #28

Sodium is extremely reactive, so is chlorine, not sodium chloride - an analogy to what you have raised. Chemical reaction, as it is called.


(NMB) #29

This company’s management is so FRUSTRATING. Been trying everyday to reach the CS or CFO to get some facts and data on growth outlook, customer base etc but without success!

So rigid!!

Why cant they publish a corporate presentation if nothing else?!!

Need to know in value terms how much will the revenues become with this capex but without any margin profile or any kind of data, its impossible to project anything whatsoever!

Its like driving without headlights!

Its a great moat product, good quality top management…but shareholder communication is ZERO!! Very irritating!

Does any one have any details on expected revenues, margins for FY16 and FY17?

There is some stupid Firstcall research report which guides for 20% eps growth for FY16 and 17. But its not trust worthy.

Any inputs?

I guess I will have to ask all my questions at the AGM!


(Gaurav Agarwal) #30

I had a similar experience with the Management. I wrote to them asking for the status of Capacity expansion. After a few weeks I got a reply asking for my DP ID.

Communications to the investors is zero.


(Sreekanthreddy9) #31

I sent a mail to them about their client information.I got the below reply.

Dear Sir,

With reference to your trailing mail, please note that since the Company operates in a niche market, we do not provide client specific information.

Regards,
For Paushak Limited

Charandeep Singh Saluja
Dy. Company Secretary


(Aksh) #32

I think the mgmt is blackbox. I don’t think, they have been even regular in informing exchanges regarding capacity expansion from 150 tons to 480 tons and status of the same as on today. Have they?


(Nikhil Jain) #33

I had sent them a mail asking about the status of pollution control board approval, planned capex etc.

Never got a reply.


(Sreekanthreddy9) #34

Can we trust this company?


(Nikhil Jain) #35

If you mean the promoters, Chirayu Amin is the promoter of Paushak. You can Google him.


(Sreekanthreddy9) #36

Yes I too got it…But why are they not disclosing client info?
Is it a business strategy?


(Nikhil Jain) #37

AGM on 13th august. Seems like our chance for some much required info.


(Chitresh Lunawat) #38

He is also associated with bcci and ipl?? is it a concern?


(Gaurav Agarwal) #39

If they cannot disclose the name of customer. They should at least disclose number of customers, we are interested in knowing do they have any other customers or they are exclusively supplying to Alembic Pharma.

We should prepare a detailed list of questions for AGM.


(Nikhil Jain) #40

I’ll like to start with following questions

  1. Why does the company not reply to investor mails? (May sound too trivial, but I would still like to know)

  2. What is the number of customers apart from Alembic?

  3. What percentage of revenues are from sales to alembic? What are the margins for the same? Are the margins favorable to alembic for similar products, when compared to other customers?

  4. What is the status of approval from Gujarat Pollution control board? The tangible assets have grown to Rs.1784 lacs in Q4FY15 from Rs.922 lacs in Q4FY14. What is the present status of planned capex? When does the company expect to operate at 400 Tonnes per month? Please update the investors at large as to the status of expansion.

  5. What is the current ratio of exports to sales? Is their any difference in margins compared to domestic sales?

  6. What is the current product mix? What is planned for this financial year?

  7. Is their anything that separates the company from competitors?