Is anyone tracking this small cap company behind the famous ubiquitous Pan Parag. I am playing around with my screener and found this at a PE < 5.

Intro:

The name Pan Parag does not need any introduction yet its originating flagship company – Kothari Products Limited (KPL) – continues evolving many more business as well as charitable activities. Pan Parag Paan Masala was incorporated on 18 of August, 1973. Further, it expanded business to Zarda, 7-Up Coconut Oil, Budget Detergent, amd other products.

From their website:

“Pan Parag” needs no introduction since Pan Masala itself is recognized by the name of “Pan Parag” which is a flagship brand of our Group. The product “Pan Parag” was launched in the year 1973 by Shri M.M. Kothari, the founder of this Mega brand. It is a combination of Betel Nuts, Cardamom, Lime, Catechu and Natural perfumes. The revolutionary product got unprecedented acceptance from the consumers and by mid 1980s when Mr. Deepak Kothari launched the product in smaller pouches instead of big tin packings, Pan Parag assumed the position of market leader.

Observations:
Low volume, high dividend player and highly illiquid(low floating stock).

Financials:


There was a case of delisting of Pan Parag Ltd. More info can be gleaned from here. I could not understand the text. I should read more.
http://www.suchetadalal.com/?id=294&base=enquiry&f

Thank you ramsey123.

Yes, the management seems to be very dubious which is not a strong factor.