Kailash Auto Finance got relisted in June 2013 and there is no website for this company. Even the email ID which is provided on BSE says kafl1984@yahoo.com
There is no official ID which is provided on the website. We don't know what business the company runs. By the name of it, it seems an auto finance company but if you try to search anything on the internet you will not find any detail of the company.
The market cap of this company is Rs 2,550 crore, don't even go to the financials because FY13 sales of this company is only Rs 33 lakh, profit after tax is only Rs 1 lakh, the book value is Rs 0.91.
It is crazy to see that this company’s market cap is higher than L&T Finance Holdings whose market cap is Rs 2,500 crore. Other public sector banks like City Union Bank, Bank of Maharashtra, Vijaya Bank, Karnataka Bank, Dena Bank have market cap lower than Kailash Auto Finance.
What is also interesting is MSCI in its recent rebalancing had included this company in the small cap focus list. I wonder what they thought before including this company.
But going at the financial, history, any information on the internet there is very little information on how this company is trading.
Also the share holding pattern is very interesting. The promoters hold 0.01 percent stake and there are other shareholders owning 99.9 percent stake in this company. There are only 7500 shareholders who own the entire equity of the company. Also the promoter share holding was 70 percent six months ago which has now come down to 0.01 percent. This has happened after the merger of the two promoter-led companies with seven-eight unlisted private companies. So all those private companies actually got the entire promoter share holding and the game has been played in a circular manner among all these people.
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