Shirpur Gold--512289---For high risk taker...CMP 102...
We all know the story behind shipur, if one dont knows a small review below...
This company is into Gold refining business and was started once in 2001, and that time Shirpur gold was promoted by the Patels of Autoriders group and it is the first and largest gold refinery in India. Autoriders group started the commercial production in 2001 with a set-up of 300cr plant, but due to death of the promoter Mr. Mukesh Patel...the project got de-railed...and company could not ramp up its business. After this they were not able to run the operations and less working capital and non-payment of loans company went into the hands of Asset Re-construction Company of India. From there Jayneer Capital Private Ltd JCPL (Zee Group) acquired the financial assets of the Company through a bid process which was awarded in their favor by ARCIL. JCPL also had converted loans on Shirpur to equity and started the commercial production for last 3 qtr. But still it need to show profits to its investors...whr risk lies...Company is running at very less capacity as of now...once it uses 70-80% of its capacity and shows profit it will be completely re-rated... company current market cap is of just 159cr..... which is much lower than what quality of assets they have as of now...if company goes for liquidation it will be surely more than 200cr...
So not much to loss...and long term can get very good returns....
Buy with 3-5 years view...not less than that...
Cheers
Sanket
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Investment in equity shares has its own risks.Sincere efforts have been made to present the right investment perspective.The information contained herein is based on analysis and up on sources that I consider reliable. I,however,do not vouch for the accuracy or the completeness thereof.This material is for personal information and am not responsible for any loss incurred based upon it & take no responsibility whatsoever for any financial profits or loss which may arise from the recommendations above.The stock price projections shown are not necessarily indicative of future price performance.The information herein, together with all estimates and forecasts, can change without notice.
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