Originally posted by praveen
Though one of the management members is from IIT-BHU but their conduct over the years towards the minority shareholders has been anything but friendly.
From issuing warrants to cancelling them later to selling stake/buying from the open market they have done it all.
They took a lot of loan on the books at the top of previous cycle (i.e. 2000) and got themselves screwed. It would have been hurting to see every second promoter minting money from 2004-2008 while they lost out.
So when the business finally turned around for them in 2007, they have tried every trick in the book to catch up with those promoters.
Needless to say for me, here the management quality is big suspect and I won't invest in OCL even if it means losing out on a potential multi-bagger. |
Hi Praveen, Thanks for your view on OCL. But given the fact that they have repaid back all the loans, have demonstrated a very high ROCE for past two years and are back on the growth path....does this change the fundamentals positive and make it attractive for a buy from 2/3 yrs perspective?
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