Elcid Investments- Comments by Vipul Gandhi

ELCID INVESTMENTS LTD is a promoter company of ASIAN PAINTS LTD. As per shareholding pattern on 31st December 2012, ELCID INVESTMENTS LTD along with its 100 % subsidiaries holds in total below shares in ASIAN PAINTS LTD.

SR NAME OF COMPANY / SHARES
01.Elcid Investments Ltd / 28,31,386 Shares
02.Murahar Investments And Trading Co Ltd / 5,74,367 Shares
03.Suptaswar Investments And Trading Co Ltd / 6,55,831 Shares

Thus ELCID INVESTMENTS LTD along with its 100 % subsidiaries is holding in total 40,61,584 Shares, which represents 4.234 % stake in the ASIAN PAINTS LTD.

Moreover as per annual report of 2011-12 apart the above holding of Asian Paints Ltd, ELCID INVESTMENTS LTD also holds shares in various other companies inform of Equity Shares, Preference Shares, Debentures, Mutual Funds, etc and have worthy portfolio of more than Rs 50,00,00,000 (Fifty Crores Only)

On calculating the market value of ASIAN PAINTS LTD. worth of 1 share of ELCID INVESTMENTS LTD. shall be as under

WORTH OF 1 SHARE OF ELCID INVESTMENTS LTD 

= Total No. of shares holding in Asian Paints Ltd x Market Rate of Asian Paints Ltd. divided by Equity Share Capital of Elcid Investments Ltd

= 40,61,584 Shares x Rs 5,000 divided by 2,00,000 Shares

= 1,01,540/= per share

Moreover on bringing the value of its worthy portfolio into consideration, worth of Share of ELCID INVESTMENTS LTD shall be around Rs 1,10,000/= per share.

Thus promoters are only paying around 10 % of its worth.

So decide who actually gets bonanza ...... share holders or promoters ?????

VIPUL GANDHI