A relatively shoddy report with lot of copy pastes from annual reports etc...overall it seems like a hurried job with a standard template being used

This is what i noticed about the company.

 

It payed back 12 cr of debt last year. The company has about 30 cr of debt on Mar 10.

 

Interest payments over the last 6 months is 2 cr roughly. It has cash flow from operations of 10cr-20 cr so is in a pretty good position to pay back interests. The company does not have major maintenance capex requirements. It has 5 years contracts in place.  Overall, it seemed like the chances of bankruptcy is reasonably low.

 

Lemme know what you think. It seems to me that the most important challenges that a small B2B company faces (getting loans, setting up infra, winning contracts from biggies etc) has been solved and now it's mostly about the management executing and operating levearge kicking in since the base is pretty small at this point.

In case you haven't seen this - http://www.moneycontrol.com/news_html_files/news_attachment/2011/Smruthi_Organics_Sunidhi_150211.pdf