A small cap but one of the finest from the textile industry along with KPRMILL, VTL. They are one of India’s leading players in the technical textiles sector. Established in 1976, the company today is a multi-divisional, multi-geographical technical textiles company and is known for providing world-class innovative solutions for high-performance aquaculture cage nets, fishing nets, sports nets, safety nets, agricultural nets, coated fabrics, polymer ropes, and Geo-synthetics. Revenue & profits during 2003 were 180 Cr and 8 Cr respectively. Today they are able to generate revenue and profits of 1000 Cr and 120 Cr, which shows the growth of around 5X. Hence, an investment of 1 lakh should be around 1 Cr along with good dividends. A company with good margins and zero debt. Many people in the group were buying for 4 years back around 250. No need to book profits, can hold and add more during any fall.
H1 Revenue has fallen by (-9%) & Profits by (18%) shows less effect of lockdown and are even better than what was expected during Q1. New buying again could be done during any fall 1400 ( Upgraded from 1250) and can hold it for the long term wealth. HNI Investor Vinod Parekh holds around 2.6 Lakh shares for a long time.