As far as i remember , he sold his Nuclear Business to the Listed Company Thyrocare Tech at Rs.1 which was highly appreciated. He took Rs 1 salary which too was appreciated.
Is it the same Business (Imaging Services / Radio Pharmaceuticals) which he sold to Thyrocare at Rs 1. The business has made a Sales of 8 Cr this quarter and a loss of 4 Cr. If it is the same business , it looks he has shifted this loss to the Company which otherwise would have been occurred to him personally if he hadn’t sold it to the company at Rs 1.
Promoter makes lot of stories , visits lots of trade carnivals , promises over and deliver under. Once i made a positive criticism on twitter to him about focusing more on Business and less on trade Carnivals , i was blocked for that. Anyway
One more interesting thing is that If one Searches on Google " Thyrocare Share" , most of the times it shows the another company Share price (Attached Below). It shows Thyrocare Parent Organisation as Westfield apparels.
Looking for the Westfield Apparels , one finds that this Westfield has acquired a Company EINS Edutech Ltd. The current name of EINS Edutech is “Apalya” which is a listed Company in BSE and Calcutta Stock Exchange and previous name was " Thyrocare Laboratories Ltd".
The company was earlier registered in Kolkata and later shifted to Bombay. There are some shareholders of Current “Thyrocare Technologies” which are registered in Calcutta .
Good thing is i did not find Mr. Velumani name anywhere in Westfield or Apalya in my limited search. Possibly some misconnection by Google results which shows Apalya on Searching Thyrocare. Do not know whether the “Thyrocare Lab” is linked to “Thyrocare Tech” or not.
Valuations looks expensive for such type of growth. During Feb , Mr. Velumani in an interview told to end the year with 15% growth which too is not there after the March results. Good thing is promoters are buying at intervals. High dividends reflect nothing wrong on Cash. Promoters may get good money from dividends and can see more buying in future.
Lets see how the story unfolds.
Disc: Invested Earlier , had booked out on 21st Feb when it bounced to 600 for No reason.! No Positions currently.
