GeeCee Ventures - Cigar butt?

GeeCee Ventures Limited (Formerly Gwalior Chemical Industries Limited) is into Real estate Development, NBFC operations and security trading.

[In August 2009, as a part of diversification strategy adopted by the Company, it sold its main manufacturing unit at Nagda, Madhya Pradesh to Lanxess (India) Pvt Limited, a subsidiary of German multinational Lanxess AG. Post the transfer of the Chemical Business the name of the Company name has been changed to GeeCee Ventures Limited]

Company operates in following segments:

Historical financials are as below:

Investment rationale as as below:

Other sanity checks:
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Risks:

  1. Company not sharing the wealth with investors through bigger dividends and buybacks
  2. Upcoming Real estate projects may not do well
  3. Company may incur losses on their equity investments

Disclosure: Invested @ 95 Rs/Share
Views & criticism invited!

1 Like

Corporate governance/Management integrity might be the risk here … Smaller real estate companies are fraught with risk (Speaking from personal experience)… But I think this could be a good find…