Promoter changed again in this counter. I guess new promoter Mr. Halwasiya appears to be a prominent investor who is buying this stock. Maybe some cleaning of books required still. The good thing is leverage is only 1:1 which means growth over 3-4 years does not require capital. But since the company hasnt grown in last decade, i believe the architecture of the company (employees, processes and systems) will be old, outdated and requires strong restructuting. New promoter has no experience of running a NBFC i guess. He will not only have to bring in strong management team but also look to hire lot of high quality individuals even at lower levels. P/BV at 1.2x TTM seems ok. Need to adjust this for any write offs that come along. But not a straight and easy bet as proper execution may take time
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