thanks @mukesh_gt. totally makes sense. the recent correction in the stock market has made so many other midcaps with very good management very attractive. will go after them.
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Looks like most people have given up on this counter. The company had shifted to PUSA 1121 variety of basmati rice. In Oct’15 price of Pusa 1121 were at 5 year low. After that there has been a constant surge in prices. By Nov’15 end, it was had increased by 25%. Presently it has increased by more than 150% from low level in October. Also export to Iran, one of the main market for Pusa 1121 has been resumed. Burnt by the low prices, farmers are now switching from basmati and this will result in lesser supply of basmati. Heat wave in Asia’s rice bowls like India, Thailand and Vietnam may also push up prices this year. In drought-hit Telangana, 1000 rice mills have down their shutters in last 2 months.
Debt has been restructured. Marketing agency has been appointed for it’s product. In principal approval for hiving off of energy and warehouse business has been taken. Let me know what you think.
Disc.: Not invested. Planning to add below 15 levels.
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I am trying to get Zauba link to track PUSA 1121 price trends. The below one is not reflecting the recent price increase that you are referring to. Any other links to track this price trend on monthly basis ?
https://www.zauba.com/exportanalysis-indian-pusa-1121-report.html
I’m relying on news in the link I have shared. You can see prices of other food companies like kohinoor, krbl, Lt foods along with Lakshmi has risen 30-40% since Feb end. I guess market is hoping for a better immediate future. How often can we rely on Zauba? I have seen it showing incorrect prices when prices of chemical like H acid and vinyl Sulphone double or tripled in the last quarter due to shutdown of major dye manufacturer in China.
result of this quarter announced today
Wow… eye opening thread 
a lot to be learned from this thread…! all new investors must go through such threads…!
Learnings: Never follow anyone blindly, due diligence on management is a must and building position should be slow & steady…!