Purely on the basis of fundamentals, all ratios (OPM, NPM, ROCE, ROE)are heading south. The business has been constantly deteriorating over the past 5 years.
http://www.screener.in/company/?q=523708
Regarding investements, non-current are mostly in listed and un-listed shares, while current investments are mostly in liquid mutual funds - so makes it pretty safe. However, apart from the mispricing I don’t see a fundamentally sound story here.