At a market cap of less than 100 crores with a revenue of 300+crores, this stock is a pretty good industrial company to be in. The company is growing steadily, and its product,master-batchesis infact imported, so there is no question of shortfall in demand. Also, the debt-quity is pretty reasonable.
The management quality is quite strong. I look for change in promoter holding as a major barometer of management quality. They dont indulge in trading in their own shares. They are regular dividend payers and generally they increase their dividends or keep it constant except in very rare cases, when profitability does get impacted hugely, do they resort to dividend cuts. The book value is also reasonable given the price.
Thus, in my opinion, its a decent stock to own wuth a decent upside potential.