tag:blogger.com,1999:blog-7004453.post5871859017096144880..comments2023-09-02T19:53:06.144+05:30Comments on Understanding and applying value investing principles: A graham ideaRohit Chauhanhttp://www.blogger.com/profile/00356455735241398199noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-7004453.post-47752680757706727622009-01-26T00:37:00.000+05:302009-01-26T00:37:00.000+05:30hi nayeemINEL has around 2.2 crs in cash and almos...hi nayeem<BR/>INEL has around 2.2 crs in cash and almost 99 crs in investment. of this around 12 crs is subsidiary investment, 60 odd in debt mutual funds and rest in equity funds. with crash in markets since mar 2008 (time of above annual results), the total can be computed as follows<BR/>6 (50% for subsidiary)+65 (debt)+12 (50% drop in equity funds) + 10 crs (current year cash)=93 crs. against this the mcap is 71 crs.<BR/><BR/>i agree with the performance issues. have been tracking the co. and their results are very poor<BR/><BR/>regards<BR/>rohitRohit Chauhanhttps://www.blogger.com/profile/00356455735241398199noreply@blogger.comtag:blogger.com,1999:blog-7004453.post-88262718227502834492009-01-25T19:19:00.000+05:302009-01-25T19:19:00.000+05:30Hi RohitWhich cash & cash equivalents are you ...Hi Rohit<BR/><BR/>Which cash & cash equivalents are you referring to? There is hardly cash of 1 Cr. in the books. And upon that the investments have a component of 20 Crs. of equity funds which have reduced by half till now. I have infact worked at TVS which is the biggest customer of INEL and I know its not easy out there<BR/><BR/>NayeemAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7004453.post-36943527178353407252007-03-24T15:45:00.000+05:302007-03-24T15:45:00.000+05:30Hi Rohit,In the absence of latest annual reports, ...Hi Rohit,<BR/><BR/>In the absence of latest annual reports, it is difficult to evaluate this.<BR/><BR/>What is the catalyst that you have in mind which will unlock the value or force the reevaluation?<BR/><BR/>Earnings are not growing significantly where they would make the market to take notice. In the absence of takeover attempt, it might be a long time (years!) for market to re-evaluate the price.<BR/><BR/>Some months ago, I had made a purchase of Kothari products (pan parag fame). Its book value is more than the market cap. Tobacco business is a cash minting machine. That's all the analysis I did at the time of purchase hoping that somehow market will recognise the Graham bargain.<BR/><BR/>However, later I noticed that the promoters own more than 80% of outstanding shares. There is no incentive for the current owners to reward shareholders. There is no way for a hostile takeover. Ergo, the value trap stays as is. I have moved on in due course - hopefully, wiser.<BR/><BR/>Best Regards,<BR/>RaviRavi Arankehttps://www.blogger.com/profile/08706098376170260290noreply@blogger.comtag:blogger.com,1999:blog-7004453.post-59210338136660247172007-03-22T20:10:00.000+05:302007-03-22T20:10:00.000+05:30you have to access the edifar database ..they have...you have to access the edifar database ..they have reports on that till 2004 onlyRohit Chauhanhttps://www.blogger.com/profile/00356455735241398199noreply@blogger.comtag:blogger.com,1999:blog-7004453.post-21153492085268220282007-03-22T10:56:00.000+05:302007-03-22T10:56:00.000+05:30Hi Rohit,A possibly silly question. Where do you g...Hi Rohit,<BR/><BR/>A possibly silly question. Where do you get access to their annual reports for last few years?<BR/><BR/>I could take a look once I have some more data than that is available on their web site.<BR/><BR/>Thanks,<BR/>RaviRavi Arankehttps://www.blogger.com/profile/08706098376170260290noreply@blogger.com