JAGATJIT INDUSTRIES

I have earlier recommended this scrip @ Rs.65/- ,which is now quoting around Rs.63/-.After the previous recommendation company declared very good result for the fourth qtr.Company has moved from red to black in the last FY and expected to perform well in future.

Old report is re- producing below :
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The brand ‘Aristocrat’ is familiar even  for the non 

drinkers but the company which makes this brand is 

not much popular among investors. Jagatjit Industries 

is the 600 crore company which makes Aristocrat brand 

liquor.For the past many years company's performance 

badly affected mainly because of some disputes 

between the members of promoter family itself. 

In a landmark judgment company law board instructed 

the main promoter to buy back 5794112 shares 

from the counter party, 

which already completed .The bought back shares were

extinguished and its share capital reduced by that 

extent.This process will give the much needed 

freedom to the management to take crucial decisions

for the growth of the company ,which lacks for the

past many years. Immediately after this important

development company shown excellent performance 

in financial front too.In December qtr Jagatjit

posted a turnover of Rs.192 crore and a profit 

of Rs.3.6 crore v/s a sale of 162 crore and a loss

of 11 crore(excluding other income)in the same 

period last year.This 60 year old company with an 

established brand is worth watching at CMP of

Rs.65/-,and may be a dark horse in the years to come.