I am not able to understand the following
Negatives from my little knowledge iam not an accounting expert.
If PIL has generated a reasonable amount of operating cash flow as seen from the screener.in and they have used it for assets and it is shown as CWIP and suddenly there is write off still even today there is huge amount in CWIP will this be also written off how far this will effect the book value.
Secondly if we see the last 10 years they have taken ECB and after some time instead of repaying they convert the ECB into equity and allot it to the foreign investor and later on the they dump the shares in the open market and the equity of the company is increased the promoter holding goes down does it look like some thing wrong here or is it ok.
Then if watch closing there are some pvt ltd Calcutta registered companies non promoter holdings changing hands often and name changes from PVT ltd to LLP
Continuous pledging and releasing of shares by the promoters to the same entities and promoters increasing there shares by way of issuing warrants to themselves even though they say it is subscribed at higher price now the money is being return of from the books how
Income tax has given clearance before the NCLT for the demerger after a long delay that means the company records clean.
The ED is dragging the case and promoter is giving always a proper clarification.
The promoters long standing and vast experience and the effort they have put for capacity increase and there belief in the steel segment.
Now thy are giving dividend in both in PPL and PIL
The steel cycle improvement and there ability to withstand even in low period
Cheap valuavations compared to the segment.
Disl watching close and have a small holding.