There has been a complete turnaround in the ownership…advent bought the entire stake of promoters and i think westbridge also at approx 250-260/share in Sept/Oct 2019.
Old management/promoters: Mohit jain/Rohan jain are out fully(They started the company in 1984).There is a new CEO Lagan shastri who joined few days back: he is an Ex Coca Cola guy and spent 21 years there in various roles( IIM Pass out).So now that Advent has the full control, it is a clean slate as to how the new management wants to run the ship.
Looks like a turnaround play, but a lot depends on how new management behaves- It can go anyways; but looking at the PE guy(Advent) and the new CEO, chances of a good fortune seem more likely for me, thats my intuition.
Here is the linkedin profile of the new CEO: https://www.linkedin.com/in/laganshastri/
Disclaimer: Added a little for tracking purpose.Kindly do your own due diligence.