Rishiroop - Formely Puneet Resins - A Potential Multibagger?

Stock up 20% on good Q2FY18 results

A detailed article on rishiroop group.
https://rubberasia.com/2017/01/10/rishiroop-group-trend-setter-products-innovation/

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Sold all my holdings. Good price movement from Rs 36 to Rs 139 within a year. Not comfortable holding at these levels. May buy again if earnings in the next 2 quarters are good.

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Got interested in the company after looking at the technical chart


,price is nearing ATH .

Rishiroop.pdf (1.0 MB) – Certificate of extinguishment of shares.
Company completed buyback recently and posted increasing revenues in the last two quarters. Anybody who is tracking ,please share your views on the company
Disc- Interested not invested

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Recently, i have strated looking into rishiroop Ltd. I found an interesting observation.

  1. In this image we can see the company source of revenue is more toward Trading of Synthetic Rubbers and others from 2013 to 2022 instead of polymer components.
  2. From 2013 to 2022 The Other income increased significantly (19x) while revenue from Polymer Compounds
    and Trade of Synthetic Rubbers and others does not increase much (1.4X and 2.3X).
  3. This tell, the main contribute to income most probably coming from Other income and Trade of Synthetic Rubbers and others.

Conclusion, this is not a sign of a company which can scale in future.

(source of information are annual report of 2013, 2018 and 2022)
(conclusion based on the above observation only where have not considered other aspect of the company. DO correct me if there is any wrong observation as i am recently started looking to companies)

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