1 I am stepping into my 40th year of a wonderful business journey. I have undergone changes in my corporate identity and ownership control in recent years.
2 My founder was awarded the Padma Bhushan and served in our Army in his younger years.
3 My competitor tried to acquire me when I got into financial trouble. Eventually, the promoters ceded control to a private equity investor, who delisted the company.
4 Though I got relisted again with the minimum required public float, non-institutional holding is currently below 5 per cent, and the market continues to price my stock below the offer price.
5 While my asset-heavy business model of the past, which delivered low RoE, always received a lower valuation, hopefully new geographies and a new business model under the new management may improve the outlook in future.
Last week’s stock: Sharda Cropchem
Last week’s winner: Mohan Kumar Ramasamy
Published on March 28, 2026