There is a good jump in short term provisions, Which is why i guess even though revenue increased the profits are less yoy. I hope major chunk of this provision should come back & this will add significant value to EPS growth.
But i couldn’t find where these 383.04 lacs has been adjusted as a expense in income statement
@Dhruva1705 Why does resignation of Gala and appointment of Gogri signal good corporate governance? Yes, Gogri is the founder of Aarti Industries, but how does the appointment itself in any way signal transparency and better corporate governance?
Also, have you been in touch with the company regarding the progress of the capacity expansion? As you would notice from the balance sheet, there is no CWIP and the fixed assets have moved up only marginally by 2 crores in the entire year.
I think i answered the question already in my comment earlier and i focused more on Vicky resignation rather than new Arti guy.
anyways i’ll repeat as you might know Mr. Hemchand Gala is the Chairman & Managing Director and he is 70 years old guy and i believe Mr. Vicky Hemchand Gala who is around 35 years of age might be his son.
So, I was thinking his Son naturally going to be the next successor but instead board let his son go which i think shows they value good for the company more than any personal family relationship. As you might agree as most of the companies family owned and lots of them have governance issues.
But valiant is owned by lots of different people and i believe its run more democratically than any other family owned business.
Also about the Arti guy … i don’t see any harm with that if someone who knows industry so well and have great track record sits in the board meeting.
Anyways this is what completely i think and may sound childish to you and others may hold a different opinion which i would definitely like to listen to.
No i am not in touch with company , no idea whats going on. I hope they going to put out somewhere in annual report or somewhere to communicate about it to the shareholders.
Thanks,
Dhruva
I believe you took my post as an attack on your opinion, which it was not.
As a counter point, I would say that many family run businesses where children take over the business do very well too. I don’t think that is something one can definitively say is a good thing or a bad thing. However, in this case, I think Vicky made his money during the IPO when he offered his shares and was never interested in the business long term. So in that sense, yes it is good that he has left.
I think it would be useful to contact the company and find out the status of the capex, because it is supposed to be completed by 2018.
Thanks for the inputs , I have shoot an email to the company asking what happened to the CAPEX plans 
Will update if i get any reply .
Thanks Dhruva, even I would be very interested in hearing about the capex progress.
Any response from the company?
No … Nothing yet mate .
Anyone received the Dividend yet ? whats the date of payment.
It will come after AGM. Since there is no record date, it will come after approval at AGM.
Link to the PCB application filed by valiant. A good read…explains the costs involved in setting up new capacity, new products with qty, impacts on environment, mitigants, justification for this expansion, and many more details.
Some points i took out from the above link -
Seems like good Expansion in some of the products 
Additional capacities of product range required over & above our existing capacities at Sarigam, as the
company expect strong growth of exports to the extent of 70%. Local market also shows strong growth
potential.
They got some approvals as well …
Arti Industries also make these chemicals :
http://www.aarti-industries.com/products/chemicals/chemistry/list/6/
2,4 DI CHLORO PHENOL (2,4 DCP)
2,6 DICHLOROPHENOL (2,6 DCP)
2,4,6 TRICHLOROPHENOL (2,4,6 TCP)
How do you guys see this as conflict of interest ? Why Arti won’t see Valiant as a competitor ?
Aarti only markets and does not manufacture these chemicals.
Arti is the largest manufacturers of 2,4-D in the world man.
If that is the case then its the additional plus for Valiant investors, As Arti can really help with its supply chain selling chemicals made by Valiant.
The Annual Report of Valiant Organics has positive commentary.
In the Management Discussion and Analysis / Outlook the following inputs are noteworthy:
Annual report is very informative … Its simple , adequate and a quick read .
I am bullish on the company’s prospect, Chloro phenols are majorly used in agrochemicals and with all loan waveoff and direct benefit transfer to the farmers. I feel we should see good earning growth in sectors related to rural economy.
Can someone please share the annual report? i somewhow cannot find it even on their website or bse
I[quote=“sagararya, post:40, topic:9088, full:true”]
Can someone please share the annual report? i somewhow cannot find it even on their website or bse
[/quote]
http://www.valiantorganics.com/VOL_ANNUAL%20REPORT_16-17.pdf
