Shree Pushkar was falling for more than the usual market correction. From a high of 327, it recently touched a low of 217. So might be it catching up. But there was in parallel a talk about Huntsman court case and SP’s alleged weak position (Mostly conjectures). There is no way to know for sure the fall and today’s bounce back. Hopefully, the future remain bright.
Market may give a chance to buy at the right levels. Patience to those who feel that they missed yesterday’s rally…
The Huntsman Case , Which is still in court if favoured opposite of SPCFL what will be the odds of downside. The case is fraud so it can be. Huge negative . The Sell off despite of good results can be the discounting some bad news of this . Though this news have been around for a long time Why is that in first place the went upto 320 levels and then fall back ? If the News of Huntsman is not there then I would definitely assign a more % to upperside than downside . We assign a great deal of time and study on Corp governance issues so when that’s missing and when the subject is in court for a fraud case have to said for visibility and this is a cyclical stock not Nestle ( which bounced back in 3 months ) so there’s a dual disadvantage if it fails !
Disc : Invested , Trimming holdings .
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Huntsman Case final update-
https://www.bseindia.com/xml-data/corpfiling/AttachLive/7369ca54-dde3-440e-a2c2-8bc6d943112a.pdf
Long story short-
The court has given relief to Shree Pushkar and has fined Huntsman with 5Lakh and dismissed the case there by saying that the case was filed in wrong territorial court(Delhi) and Huntsman has to file the case in Mumbai court if it wanted to file it again(As all the agreements done between 2 companies stand only in Mumbai Court).
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yes, it is about wrong jurisdiction , if they want can file in mumbai from starting but this itself took 2 years then imagine again if at all, by the time verdict comes about , the penalty amount will be peanuts even if it is against SPL is my opinion/understanding
Disc: holding from lower level without any trimming
Expect that Huntsman may pursue the matter by filing a case in Mumbai. Also, is there any clarity about receivables of ~8 crores from Huntsman?
I was reading this thread from beginning and saw that mgmt. projected approx 400 crore sales. In last three quarters they managed to clock approx 270 crores revenue. To meet the target they should clock 130 crores in upcoming results , which is a 41-42 % revenue growth YOY.
Is it achievable. Considering they have clocked 15-17% revenue growth in last three quarters. Seems tough. At same pace they should have approx 370-380 crores. Falling short of target. How should we consider this ? Is mgmt over projecting the growth. ? How much should be fair valuation considering 35 PAT on 370-380 crores revenue. Please advise.
One important thing, while projecting revenue , never forget seasonality factor. So,rather than seeing q4 over q1 to q3 ,it is important to see q4 current year over q4 previous year by inferencing from historical seasonality .
If you see March16, March 17 quarter results, it has always been higher than other quarters (17 could be an aberration due to demon also and still 20 percent higher ). So, still the range was between 20-50 percent . So, if one assumes seasonality and takes 25 percent as reasonable estimates ,on q3 FY 18 of 95 cr this should come around 120 cr, fy18 comes around 390 cr which is just 2.5% lower than 400 cr.i think mgmt had discussed this in some quarter conference call . Disc : not invested
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Board has approved to allot 5,04,875 Equity Shares at an issue price of Rs. 211.57/- each (including a premium of Rs. 201.57/- each) on preferential basis to promoter group aggregating to Rs. 10.68/- Crores.
https://www.bseindia.com/corporates/ann.aspx?scrip=539334&dur=A&expandable=0
So why they want to buy on preferential basis, why not buy directly from market, which will not dilute the existing holdings.
Any views on the preferential allotment, welcome here for discussion.
This issue is with regard to that Kisan Phosphate acquisition. Reason for issue was well discussed and explained by management…
Can you please elaborate your point
Refer BSE announcements of Sept. 2017 re preferential issues of shares
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Any update on the Huntsman case please?
It is over now and in favour of Shree Pushkar
Thank gou for your reply. Are they applying to different jurisdiction/higher court? Any information on that please.
As of now no information.
With reference to above captioned subject matter and pursuant to regulation 30 of SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015, we would like to inform you that as per the approval of the Board of Directors, the company has acquired land agreegating to 40000 sq mtr at MIDC, Lote Parshuram, Ratnagiri, Maharashtra for future expansion purpose. The Company has already made necessary payments to MIDC.
You are requested to take note of the above and arrange to bring this to notice of all concerned/stakeholders.
Kindly acknowledge the receipt and please take the same on record.
We wish to inform that pursuant to provisions of regulation 29 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, the meeting of the Board of Directors of the Company will be held on Monday the 28th May, 2018 at 3.00 p.m. at 301/302, 3rd Floor, Near Udyog Bhavan, Sonawala Road, Goregaon (East), Mumbai - 400063 the registered office of the Company, inter alia to consider and approve the following business:
- The Audited Financial Results for the Quarter and Year ended 31st March, 2018;
- Recommendation of declaration of dividend for financial year ended 31st March, 2018, if any;
- Increase in Authorized Share Capital of the Company and consequent alteration/ amendment in the Memorandum of Association / Articles of Association of the Company;
- Raising funds by issue of Equity Shares and/or Convertible Warrants on preferential basis;
- Appointment of Independent Director on the Board of Director of the Company;
- Any other matter with the permission of Chair.