Asian oilfields

Stock Opportunities
23

Some key developments in the past 2-3 mnths

  1. Pref allotment announced to Madhu Kela and team for INR 85 crores and promoter Oilmax at 127/share
  2. Mgmt change… MD of Oilmax (promoter) is now the CEO
  3. Promoter holding significantly increased… in past 2 quarters (from ~59% to ~64%)… promoter has been buying 80 rs to 130 rs
  4. Order book stands at INR 950 crores … FY 2023 sales were only INR 110 crores… recent order wins imply that lot of it will be complete it in the current financial year
  5. Valuation is now ~INR 550 crores… downside is that company has very bad track record of write offs
  6. Recent order wins indicate diverisfying order book and expect to up further
  7. Good recent thread https://twitter.com/ambeecious/status/1683177472999792640

Plan to meet the company to really identify what is going on. ANybody tracking this?

24

Stock is now out of ESM w.e.f September 11. Expect some action