Few things observed :
- So many subsidiaries and joint ventures and associates , making a very complex corporate structure
- Its actually sandwitched between two types of Sharks. From supply side, where they procure their raw materials they have to deal with big players like TATA etc. On demand side, they have to sell their products to big players like Maruti. Bajaj etc. So on both sides they cant be in a drivers seat…and have to accept what these sharks decide…No control over margins.
Despite these challenges in last 10 years , it has become 55 baggers…If invested 10 lakhs in 2013, it would have become more than 55 lakhs…Its so awesome…Many business challenges, which otherwise would have stopped any intelligent investor in investing in this company has made 55 times money. This clearly shows that sometimes ignoring the obvious problems can be so rewarding.