March 29, 2017

Buying CIAL ( Cochin International ) Shares

( m )


Wadias- Macrofil Investments- National Peroxide

new post

October 03, 2017

Macrofil Investments- Share Consolidation to Rs.5000. To Kick Our Small Investors

Macrofil Investments has chosen the cheap trick of consolidating the face value of its share from Rs. 10 to Rs. 5000 to kick out loyal Non Promoter shareholders at a fraction of Intrinsic NAV.

Macrofil Investments claimed that at an EGM dt 18 /07/17 such a Resolution was passed.

We ( shareholders ) never received this EGM Notice. 

Macrofil Investments is an Asset Laden Company holding Promoters shares of National Peroxide.


Consolidation of Face Value to a Higher Denomination SHOULD NOT BE ALLOWED UNDER ANY CIRCUMSTANCE.


Shareholders of Macrofil Investments / Investor Community should oppose tooth and nail such anti small shareholder 

1 ) writing to Macrofil Investments at


2 ) Filing Objections with National Company Law Tribunal ( NCLT ) Mumbai Bench where this Petition by Macrofil is pending 
Address6th Floor, Fountain Telecom, Building 1, Mahatma Gandhi Road, Fort, Mumbai, Maharashtra 400001
Phone022 2261 1456
3 )
 writing to ( as this is an Unlisted Company )

Ministry of Corporate Affairs,
'A' Wing, Shastri Bhawan, Rajendra Prasad Road, New Delhi, Delhi 110001

Shareholders should , also ,demand listing of Macrofil Investments in NSE / BSE

Please also click

Investors Use Section 245 Against Microfil Investment Share Consolidation

Till date, the most powerful tool in the hands of minority shareholders has been bringing a suit for oppression and 

mismanagement, said Suhail Nathani, managing partner, Economic Law Practice. "Under the 2013 Companies Act, 

Section 245, over 100 shareholders can also file a class action suit but its application and enforcement is still nascent," 
he said. 

Read more at:


Recently Digvijay Finlease made a proposal of consolidating the face value of its share from Rs. 10 to Rs. 1000. Those holding fractions i.e. holding 1 to 99 shares were to be compulsorily paid Rs. 200 per Rs. 10 share. The intrinsic NAV of one share of Digvijay Finlease ( Rs. 10 paid up ) had been worked out by some to be Rs.40,000 .

After shareholders raised the matter with the Company. Ministry of Corporate Affairs , New Delhi and NCLT , Digvijay was forced to withdraw this Anti Small Shareholder step . 



old/ original post

Nusli Wadia , Promoter of Bombay Dyeing / Britannia Group is further increasing his stake in National Peroxide Limited by buying out fellow Promoter , MNC Solvay's 25% stake.


Macrofil Investments Limited is an Investment holding company of Wadias .Macrofil Investments holds shares of National Peroxide , Bomcay Dyeing etc.Macrofil Investments has Non Promoter / Public Shareholders. Macrofil is Unlisted.

Macrofil Investors are demanding Value Unlocking/ Fair Returns


old posts

September 1

4, 2016

Macrofil Investments - Shareholders Demand Fair Value Payment / Listing

In recent days , shares of Nusli Wadia / Bombay Dyeing group have jumped.

Shareholders of Promoters' Holding Company , Macrofil Industries Limited ( Unlisted ) are demanding Payment of Fair Value or Listing in BSE / NSE.


June 18, 2009

Macrofil Investments Limited

Macrofil Investments Limited ( Registered Office : 9 , Wallace Street , Mumbai-1 ) is the promoters ' holding company of Nusli Wadia group ( i.e. Bombay Dyeing group ).

Macrofil Investments Ltd. was incorporated by Bombay Dyeing. The investments of Bombay Dyeing were transferred to this company. The shareholders of Bomaby Dyeing were offered subscription of shares of this company. Very few applied. Most of new shares were allotted to promoters of Bombay Dyeing.


June 18, 2009

Macrofil Investments Limited

Macrofil Investments Limited ( Registered Office : 9 , Wallace Street , Mumbai-1 ) is the promoters ' holding company of Nusli Wadia group ( i.e. Bombay Dyeing group ).

Macrofil Investments Ltd. was incorporated by Bombay Dyeing. The investments of Bombay Dyeing were transferred to this company. The shareholders of Bomaby Dyeing were offered subscription of shares of this company. Very few applied. Most of new shares were allotted to promoters of Bombay Dyeing.

Macrofil Investments Limited holds , at cost price, a large holding of other group companies mainly National Peroxide Ltd. The market worth of the holdings is many times the book value .The company had offered Buy Backs and further reduced the share capital.

Financials : as on 31-03-2010

Share Capital : Rs.44 Lakh ( Face value per share Rs. 10 )
Reserves : Rs. 5 cr 5 lakh
Net Profit : Rs. 1 cr 83 lakh
Dividend : 120 %

Further , the market value of quoted  shares is Rs.52 cr.55 lakh against Book Value Rs. 5 cr 21 lakh

Thus the share has Tremendous Hidden Worth.

Status : Unlisted and Illiquid

This makes the share ideal for investment by Collector - Investor class


Please , also , click :-


Macrofil Investments ,Digvijay Finlease , NBI Industrial Finance and other Unlisted Promoters' Holding Companies should follow the examples of

1 ) Max India Promoters are paying a fair price of Rs.94 for every share ( Re. 1 paid up ) of their Unlisted Holding Company - Cheminvest Limited.

2 ) Reliance Industries Promoters gave 1 share of Reliance Industries for every 1 share of their Unlisted Holding Company - Farm Enterprises Limited ( earlier  Reliance Enterprises )



( Josh Malihabadi )

General Warning : Investment in Shares Can be Injurious to Your  WEALTH 

Caution :The blog writer has personal/ family members' holdings in this company , so please make suitable "provisions " for likely over optimism

( NB : All information given in good faith. Please recheck all facts. No responsibility taken by this author / blog . 

Small Cap/ MidCap Winners-Moneycontrol Link

March 28, 2017

Buying 100 Digvijay Finlease

An Investor ( from Gujarat ) wishes to buy 100 shares of Digvijay Finlease Limited

Please SMS


Midcap ( Listed ) Winners- Moneycontrol Link

Frick India Main Beneficiary of Massive Cold Chain Investment

new posts

August 29, 2017

Frick India-Super-Q1-2018 Results EPS -Rs.98 / 65p

Please click :-

Q1 2018 ( Q1 2017 )

Sales Rs.92 cr ( Rs.53 cr 13 lakh )

Net Profit Rs.5 cr 92 lakh ( Rs.3 cr 35 lakh )

EPS  Rs.98 /65 p ( Rs.55 /75 p )

Equity : Rs.60 lakh ( share Rs 10 paid up )


August 17, 2017

Frick India-Annual Report-2016-17

Please click


AGM on 08/09/2017 at Faridabad


old original / post

Frick India is the Market leader , in India , of Industrial Refrigeration/Cold Stores Equipment

Range Of Frick India's Business


What is a Cold Chain ?


Leveraging ₹3,100 crore investment will boost food processing sector

The Centre has sanctioned 101 new integrated cold chain projects that will leverage a total investment of ₹3,100 crore for creation of modern infrastructure for the food processing sector, the Ministry of Food Processing Industries (FPI) said on Monday.

source/ for more


Big Basket, Haldiram, Amul among 101 cold chain projects okayed

for more




August 20, 2016

Frick India- Annual Report -2015-16 - Excerpts - Comments

Please Zoom to Enlarge

Frick India - Market Leader in Industrial Refrigeration. Great Prospects with FDI coming in the Sector of Food Preservation

Questions For AGM


1 ) Frick India was Exclusively Listed at , now defunct , Delhi Stock Exchange 

2 )  SEBI directed Relisting or Delisting ( at Fair Price )

3 )Why Relisting at Metropolitan Stock Exchange ? which has no trading  Why not Relisting at BSE / NSE 


Now that (Page 18 ) the dispute ( regarding  transfer of shares - Court case in USA has been  settled ) what is holding bach the Company from issuing Bonus shares / Split from Rs 10 to Re 1


( In 2014 -15 Report , it was stated )


Legal disputes are pending between Jang Bahadur Singh ( Dr. JB Singh ) holding 40 % shares under L/f  J324 and Jasmohan Singh and his siblings in the Hon ble Delhi High Court and Courts in the USA.

In 2015-2016 - the Dispute Settled in USA Court )

2015 -2016 

So Frick India has , now , no reason , for not declaring a liberal Bonus / Split 

Capital Base Rs. 60 Lakh , Book Value Rs. 1825 + per share

Around 22 acres of Prime Land in Faridabad ( NCR Delhi ) on GT Road near Delhi. . 

AGM at Faridabad on26/08/16 at 11 AM 

Company Information

Five Years Financials

AGM Notice

Financials / Dividend

SEBI Directions and Listing With Metropolitan Stock Exchange

Management Analysis
 Page 18 - Transfer Of 1200001 Equity Shares Of The Company - Settlement of Court case Massachusetts,USA

Listing on Metropolitan Stock Exchange - No Trading

Balance Sheet

Massive Investments in Shares etc ( Liquidity ) 

Cash Flow

Huge Investments in Shares etc

Huge Investments

Huge Investments

9 Branches all Over India


August 22, 2016

Frick India Q1 ( 2017 ) Net Profit Jumps 65 % YOY

For Quarter ( 3 months )

 Ended 30 June 2016 / Qtr Ended 30 June 2015

Sales 51 cr 81 lakh                        Rs. 36 cr 41 

Gross Profit Rs.  4 cr 05  lakh        Rs. 2 cr 62 

Net Profit   Rs. 2 cr 59 lakh           Rs. 1 cr 58 

EPS Rs.43 / 24 p                           Rs. 26 / 29 

Source / For More , please click : -


August 22, 2016

Frick India - Videos -Modern State of Art Plant , Faridabad

August 26, 2016

Frick India -AGM 2016 -Shareholders' Report

AGM of Frick India was held at 11 AM , on 26/08/16 , at Faridabad

The Management of Frick India was very positive about the future , especially the next 4 -5 years ,of Frick India ,as the share transfer disputes among the Promoters have been resolved and Company can take up , in right earnest , its pending expansion plans 

1 ) The Management agreed to issue Bonus Shares and a Split in face value. If there is need , a Rights Issue , as well.

2 ) To the shareholders' grievance that , at present , they are being offered only Rs. 2000 per share in the grey market as there is no trading in the Metropolitan Stock Exchange , the Management assured that they  go  in for Listing in BSE  and NSE. They said for Listing in BSE ( under SME section ) the minimum share capital required , for Listing  is Rs 3 crore . Frick India is taking steps to meet it. Listing at Metropolitan Stock Exchange is only a stop gap measure.

3 ) Regarding the redevelopment of the prime 22 acres land ( present factory at Faridabad ) would be considered if the Land Laws allow it , as the original land acquisition was for industrial purpose.

4 ) New machines / product lines are being added . Puffing Machine is making ultra thin and well insulated sheets for construction of buildings. Frick India may take up the line of making Pre Fabricated ( specially insulated ) buildings / houses.


For more on Frick India , please click :-


old comments


Keshav Aggarwal said...
With such out standing fundamentals and bright prospects because of FDI in Food Preservation , Share price of Frick India should be Rs. 10,000 +.

Why are Frick India shareholders silent and are allowing themselves to be cheated of their due returns ?
Anonymous said...
At Rs. 10,000 per share , the enterprise value of Frick India works out to be only Rs. 600 crore

It holds a Land Bank of 22 acres at Faridabad ,near Delhi on prime GT Road.

This land alone is worth Rs. 2000 crore upwards.

So ,if Frick India delists , it would have to pay Rs. 35000 40 000 per share.

That is why promoters of Frick India are not delisting.


It appears some shares of Frick India are available with Dealers of Unlisted / Delisted Shares  (Please Recheck this ).


Important : Please do not take Any Investment Decision based on the above stated analysis. Please only do a further Self Study

General Warning : Investment in Shares Can be Injurious to Your  WEALTH 
Caution :The blog writer has personal/ family members' holdings in this company , so please make suitable "provisions " for likely over optimism
( NB : All information given in good faith. Please recheck all facts. No responsibility taken by this author / blog . )

March 27, 2017

Multibaggers- How to Spot ?- Moneycontrol Link

Selling Mohta Finance, Jk Synthetics, Sterlite Optical, Sterlite Communication , Surya Agroil, Others

Selling (Physical )

Restile ceramcs

Sterlite optical

Mohta finance

Surya agroil

JK synthetics

Shree vani sugar

Sterlite communication.


 M no. 8209158835

Polson - Share Price Shoots Up


OLD POST  2013

May 20, 2013

Polson Limited - Rare Share - Hidden Gem ???

Polson Limied

Company Incorporated in 1939 - Public -1948

Listed at BSE ( Rs. 50 Paid ) - Very Rarely Traded . ( Trading in small quantities presently )

Polson Butter was very popular brand before Amul came into being and the Dairy Sector was reserved for the Co-operative Sector.

For the Polson Brand :-

Company Website

Presently , Polson Limited is an asset laden and highly profitable company

Financial Highlights :

Share Capital : Rs. 60 Lakh

Face Value Per Share : Rs. 50

EPS : Around Rs. 368 ( 2011-12 ) Per Share ( Rs. 50 Paid Up )

For First 9 Months ( 01-04-12 to 31-12-12  Rs, 385

Book Value ( 31-03-12 ) Rs. 2452 Per Share (  Rs. 50 Paid Up )

Balance Sheet ( 2011-12 )

Profit / Loss ( 2011-12 )

Annual Report ( 2011-12 )

There is a good chance that the Company may revive its very popular brand of Polson Butter

The Promoters holding is nearly 85 %

. So, there can be delisting at a very attractive Exit Rate

For History and Terrific Brand Popularity of POLSON , Please study the following facts from a Court order ( 1994 )


Facts leading to the filing of these two applications, in brief, are that in the year 1888, one Seth Pestunji Edulji Polson had started business of selling coffee in Bombay and in 1900, he started using the trade mark 'Polson' which was part of his name for selling coffee. Subsequently, he expanded his business and in about 1915 he had started marketing and selling butter, cheese, flour, etc. besides coffee under the said trade mark 'Polson'. It is the case of the plaintiff that the brand 'Polson' became immensely popular due to its high quality goods. 'Polson' rather became synonymous with quality butter being marketed under the said name in the minds of the people. In about 1930, he had developed a modern dairy at Anand (Gujarat) by the name of Poison Model Dairy which inter-alia produced butter under mechanised process. In the year 1938, Polson Private Limited was incorporated to further expand the business of said Polson.
(3) So, it is averred in the plaint that for over a period of time, the said company became a pioneer in the establishment and development of dairy sector and played a significant role in the development of "agmark Scheme" by the Central Government. The plaintiff expanded its activities to the eastern part of India in 1950 when it established a pilot plant in Khagaul in Bihar. Another dairy was established at Digha Ghat near Patna. in the year 1957. It is also averred that the plaintiff also started dealing in tea in 1963. So, it is averred that plaintiff's commercial activities spanned from coffee and tea to flour, table creamery, butter, etc. which were all sold under the trade mark 'Polson' which continues to be House-Mark and Corporate Name of the plaintiff company. Reliance has been placed by the plaintiff with regard to all these facts on plaintiff's brochure that was published on its 75th Anniversary (1888-1963) as well as in the In- House Journals "Poison Trading" published in various years. The plaintiff had given the sale figures which ran into crores every year for the years 1966 to 1978.
(4) It is averred that due to certain policy decision taken by the Central Government, the dairy sector witnessed sharp changes as under the Government policy, the dairy business was reserved for the Co-operative Sectors and certain restrictions were gradually imposed on the free operations of the private sector dairy corporations. It is alleged that in 1965, the Collector of Kaira District in Gujarat restrained the plaintiff company from taking out butter produced in Gujarat by the plaintiff outside the said district. The major plant of the plaintiff was situated in that district. Later on, after some negotiations, the plaintiff was permitted to remove only 1200 tones of butter from that district against an installed capacity of 2184 tones. Later on, the said quantity which was allowed to be taken out from the district was scaled down to only 600 tones a year. So, it is alleged that under such circumstances, the plaintiff's dairy operations in Eastern India had to be suspended and as the plaintiff's dairy business became totally uneconomical due to such restrictions being imposed under the Government policy, the plaintiff had to suspend its dairy operations since 1978 onwards. But the plaintiff continued to market its other products under his trade/corporate name Polson Limited which is evident from the copies of the balance-sheet of the years 1989-90 and 1990-91. Reference has also been made to these facts in the Polson Today in- house journal published in October to December 1972.
(5) It is also claimed by the plaintiff that in the year 1972, the plaintiff company, in order to diversify its activities, had acquired Amba Tannin & Pharmaceutical which had a running business of manufacturing Chemicals which became a division of Poison Limited in which a turnover of Rs-2.5 crores A year has been in existence.
(6) Now due to liberalisation policy of the Ministry of Agriculture, in August 1993, the plaintiff finalised its plans to restart its dairy operations including manufacture and sale of butter, cheese, etc. and to market the same again under the existing trademark and corporate name 'Polson' and plaintiff is stated to have taken various steps like acquiring plant and machinery in Kolhapur in this regard. It is also claimed by the plaintiff that plaintiff had registered its trademark 'Polson' for dairy products which has been renewed from time to time as plaintiff had never any intention of abandoning this trademark. The plaintiff has referred to eight trademarks which it had registered in between the period 1st July 1946 to 1st October 1952 which stand renewed up to date and it is asserted that all the said registrations are under the trademark 'Polson' for variety of products of the plaintiff company and the same are valid and subsisting on the register of the trademarks.


Polson Limited seems to be a Hidden Gem and  ideal of Collector Investors


May 12, 2016

Polson Rights Issue Closes on 25/05/2016

Opens 11/05/16

Closes 25/05/16

Ratio 31 shares for every 39 shares

@ Rs.5600 ( Rs.50 paid up share )


Important Excerpts from Rights Offer ( 2016 ) 

1. SEBI has vide its order dated June 04, 2013, frozen some of the voting rights and corporate benefits of our Promoter GroupSEBI had vide its circular dated June 04, 2010, amended the Securities Contract (Regulation) Rules, 1957 (SCRR), whereby it amended Rule 19(2)(b) and introduced Rule 19A. In terms of the requirements set forth in the newly introduced Rule 19A, every listed company was required to maintain shareholding of at least 25%. The Rule further stated that listed company which had public shareholding below 25% was required to increase its public shareholding to atleast 25% within a period of 3 years. Further, SEBI vide its order no. WTM/PS/08/CFD/JUNE/2013 dated June 04, 2013, had passed certain directions against the promoters/ promoters group and directors of the non-compliant companies, whose names are mentioned in the said order. Accordingly, in terms of the said order, SEBI has frozen some of the voting rights and corporate benefits of the Promoter Group of the Company, prohibited the promoters/promoters group and directors of the Company from buying, selling or otherwise dealing in securities of the Company, either directly or indirectly, restrained the shareholders forming part of promoter/promoter group of the Company from holding any new position as a director in any listed company and restrained the Directors of the Company from holding any new position as a Director in any listed Company. However, SEBI may in future take any other action against the Company, its Promoters and/or its Directors including but not limited to levying monetary penalty under adjudication proceedings, initiating criminal proceedings by way of prosecution proceedings and any other action/direction as it may deem appropriate. 

2. The trading of equity shares of our company was suspended from BSE Limited for approximately a decade. Our Company’s shares are listed on BSE Limited. The scrip of company was suspended from trading on the BSE w.e.f. April 2002 for giving effect to reduction of share capital of the Company. However, on account of negligence on part of the Company the suspension got revoked only on January 04, 2012. This caused immense hardship to the shareholders who did not have liquidity for their investment in Polson for almost a decade. We cannot assure you that such an event may not occur again.

4. We do not have access to records and data pertaining to certain historical legal and secretarial information, including with respect to issuance of shares and amendments in our MoA. We have been unable to locate many of our important corporate records. Our Company was incorporated on December 21, 1938 and the management of our Company was transferred to the current Promoters of the Company in the year 1970. For the years 1938 to 2013 many important records and documents, including forms filed with the Registrar of Companies, Minutes books, Statutory Registers, Documents relating to the IPO of the Company, Takeover of the Company, Share Transfers, documents evidencing the amendments to our MoA, issue of shares, changes in capital structure etc. are not available. Whilst we believe that material information required for Investors to make their investment decision in this Issue has been disclosed to the extent possible in this Draft Letter of Offer, we are unable to make certain disclosures required under the SEBI (ICDR) Regulations in this Draft Letter of Offer.

5. We do not own the trademark and unauthorised parties may infringe upon or misappropriate our intellectual property. This could have a material adverse effect on our business which in turn may adversely affect our results of operations The trademark is not yet registered in name of our Company. We had made an application for registration of our trademark under classes 01 to 45 to the Registrar of Trade Marks, Mumbai by an application dated January 17, 2011. The application for our trademark has been objected by the Registrar of Trademarks, Mumbai and the examination report reflects that the Trade Mark application is open to objection on relative grounds of refusal under Section 11 of the Act because the same/similar trade mark(s) is/are already on record of the register for the same or similar goods/services. The same has been replied to by the Company vide its replies dated September 26, 2012 and December 24, 2012. However, the same is pending further revert from the Registry. There is no assurance that the application for the registration of our trademark will be approved by the Trade Marks Registry, Mumbai. If we are unable to obtain registration of our trademark we may not be able to successfully enforce or protect our intellectual property rights and obtain statutory protections available under the Trade Mark Act, 1999, as otherwise available for registered marks. This could have a material adverse effect on our business, which in turn may adversely affect our results of operations. 6. The Company does not own its corporate office from which it operates. The Company does not own the premises on which its corporate office is located. The Company's Corporate Office is located on a premise which is owned by one of the Promoter Group Companies and is used by the Company on rental basis. Further, The Memorandum of Understanding for its Registered Office is not registered as per the requirements of Section 17 of the Registration Act, 1908. For more information see "Business Overview " on page 49 of this Draft Letter of Offer.

Source :-

Letter of Offer ( Draft ) Rights Issue 2016 

General Warning : Investment in Shares Can be Injurious to Your  WEALTH

Caution :The blog writer has personal/ family members' holdings in this Company ,  so please make suitable "provisions " for likely over optimism

( NB : All information given in good faith. Please recheck all facts before taking any investment decision.

. No responsibility taken by this author / blog . )