i stand corrected @Akshayag. thanks. It was an oversight from my behalf.
On a separate note, the company announced that it is buying a tableware company called Hopewell Tableware today. The announcement came out as this
On the face of it looks like a brilliant transaction. They are investing 37 cr to get 100% of a 70cr topline company ( for FY15 ). Compare this with La Opala which trades at 15 times revenue.
Hopewell seems to have decent products ( am going to order some…its available on flipkart ) and a fairly large infrastructure. I visited the Hopewell website www.hopewelltableware.com and came away impressed. Do check out their shop now feature, which lands on a dedicated page in flipkart,
With Borosil leveraging their distribution strength, selling this product should not be a challenge for them.
Borosil promoters seem to be doing the right things…the current acquisition along with the buy back is going to see return ratios be among the top in the listed space.
Discl : invested in borosil glass. Forms 12% of my portfolio
Mcap when posted : 726 cr.
Footnote : the stock didn’t participate in the recent panic fall in the market.