“Abysmal OCF” is a spot on description. It tells the miserable story
struggle to make interest payments and a hurry to issues PAs.
Upon further digging, the dubious past and present shenanigans of
management is mind boggling. I have no solid proof to back it, so do not
know if I should share that information, but it just spills all over PS’
actions. Growth is impressive no doubt! In fact, *that’s *the trap, I feel.
Did you know that Roy is the Whole Time Director of Modi Udyog (BSE listed)
company? Both companies share the same Registered Address,
7, Red Cross Place,
’‘Wellesley House’,’,3rd Floor
Its has a PE of 210! Outrageous, no? I bet, even Eicher cannot boast of
such “rich” valuations. And a quick glance to its P& L Statement will make
you scratch your head.(You can look for it at Money control)
PS, previously known an Sarang Viniyog, has been suspended for Insider
Trading more than once. You can check that here:-
I am invested in PS, but I am planning to wrap it up, sooner than later, as
Philip Fisher says," What you have to learn is to fold early when the odds
are against you…"
I may be wrong, in all my observations above, but I am NOT willing to
stay invested till the end, only to find the ugly truth -that I was right.
And I am not wasting my time in any further research on this, but will
track it for sure, so as to learn how a dirty system also prevails.