@rohitbalakrish_ thanks for bringing up this company.
There was very limited information available till now on this company and you have done excellent work in filling the white space. To me there were a few triggers that have played out providing enough margin of safety to invest even though with limited information.
-
Chiefly the next generation of promoter (Bimal Goculdas) had taken over as CEO in 2011. The changed fortunes started reflecting in financials from FY14. He has a patent to his name http://patents.justia.com/inventor/bimal-goculdas (thanks to a fellow investor to pointing me to this. Bimal could be the case of intelligent iconoclast driving value in a small company. @rohitbalakrish_any views you could gather on Bimal/promoters from AGM?
-
They had already discontinued fertilizer activity which curtailed losses
-
Commentary on R&D focus and new products had started
It was an opportunistic bet and it has played out well. It is good to see more commentary coming out from management and expansion plan.
The Borax Morarji link continues to be a watch item considering the common promoters and Bimal being the common CEO.
Disclosure: Invested from ~30 level