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: years, their selling expenses has gradually fallen.
This has been due to their increased distribution and sales network created and is a positive for the company. While the company does have many outstanding tax dues to the government, this situation has occurred due to the liquidity crunch they faced, and since there is no penalty faced for the same, the company hopes to pay up the tax owed by them soon. The profits for financial year 07-08 were Rs 1.22 crore, a tremendous jump from the Rs 8.41 lakh they earned 4 years ago.
While the growth has been steady, this clearly outlines the fact that the company is banking heavily on the success of this bio diesel plant to boost revenues. Taking into consideration last year’s profits, the EPS of the company post-issue would amount to Rs 0.47, with a PE of 33.78. The agrochemical industry has an average PE of 25.80 and pre-issue the company’s PE was better than this. ...
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