I had picked some shres of Sasken in 2010 ans some in 2013. Company has given huge dividends and has done fantastic buy-back. Recently they have brought a new CEO too. But somehow i feel that business is not doing too well or management’s efforts are taking time to show up. I had invested as they were doing buy back giving the logic which could have been summarised like this:“we have accumulated cash in the lastfew years and we do not know how best to use it by investing in our own business.Though we have done some stupid things in the past by investing here and there, we think the best way to deliver returns to our stockholders would be to give it back through buy-back”. I was blown away by the honesty. They have done two buy backs, total of around 90 crores. in FY 2014, they have given 32 rupee dividend per share.
They would still have cash pile because of FCF and majorly from the cash they would have received recently from the arbitration case they won. I have come to know that CFO, Neeta Revankar is a very influential person in Sasken and a very rational lady. They might do anaother buy-back, go for specialdividends etc. Ashish Dhawan has investment in this though in the last 2-3 weeks he sold some. Through sone sales guy of Sasken i came to know that they r making changes in the strategy, but things will take time to show results.
Anyone has any idea? Please pour the info and then we can discuss, thanks in advance