KUMAR:
🍁UPDATE: KWALITY LTD
1) _FY18 PAT plunged to 71 Cr Vs 164 Cr Y oY._
2) Promoter played really dirty. *Made substantially low income tax provision in 3 quarters showing false higher PAT*. With full provisioning in Q4, full year profits nosedived
3) Stock is Re 1 FV, not cheap
4) Denofwealth will not be surprised if FY19 profits fall further
HENCE ADVISE TO STAY AWAY
*BAD QUALITY: KWALITY Ltd*
Originally Recommended to sell @115-125 levels last year, Denofwealth had anticipated that buy back proposal will not be approved in Board meeting on 20th June. And we proved correct. Now Board meeting is postponed for 3rd July
Promoter has been in controversies earlier also. Unilever had to file court case to restrain co from using Kwality brand for ice-cream
Promoter has reduced his stake
Annual topline of 6700 Cr by selling milk/products appears too good to be true
*Finally Ghar mein Nahin daane, Amma chali Bhunane. Kwality has anuual interest burden of 233 Crores. Whom Promoter is trying to fool that co has surplus money for buyback of shares?* We are sure buy back will never happen. It is just a ploy to prop up stock price
*Promoter appears to be having Kwality of a Crook*
🍁UPDATE: KWALITY LTD
1) _FY18 PAT plunged to 71 Cr Vs 164 Cr Y oY._
2) Promoter played really dirty. *Made substantially low income tax provision in 3 quarters showing false higher PAT*. With full provisioning in Q4, full year profits nosedived
3) Stock is Re 1 FV, not cheap
4) Denofwealth will not be surprised if FY19 profits fall further
HENCE ADVISE TO STAY AWAY
*BAD QUALITY: KWALITY Ltd*
Originally Recommended to sell @115-125 levels last year, Denofwealth had anticipated that buy back proposal will not be approved in Board meeting on 20th June. And we proved correct. Now Board meeting is postponed for 3rd July
Promoter has been in controversies earlier also. Unilever had to file court case to restrain co from using Kwality brand for ice-cream
Promoter has reduced his stake
Annual topline of 6700 Cr by selling milk/products appears too good to be true
*Finally Ghar mein Nahin daane, Amma chali Bhunane. Kwality has anuual interest burden of 233 Crores. Whom Promoter is trying to fool that co has surplus money for buyback of shares?* We are sure buy back will never happen. It is just a ploy to prop up stock price
*Promoter appears to be having Kwality of a Crook*
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