I have recommended GANDHIMATHI APPLIANCES for high risk takers @ Rs.73 on 28th August 2010.( Read it HERE) .In my old post ,I clearly mentioned that the main concern about this company is the attitude of its promoters and not its business prospects. Gandhimathi has posted two quarterly results thereafter.Now I feels that the management is realizing the importance of a fair corporate governance,transparent accounting ,concentration in business- to create wealth.In recent numbers ,company has shown excellent growth .( I still feels they hide something in their old results.) .It is known that company is also launching more products and expanding its reach. The brand value of their brand 'Butterfly ' is immense ( at least in South India) and the opportunities are unlimited for their products in a country like India with huge population. Company is going to declare its March quarter result on 12th May , which is expected to be a continuation of the strong growth shown in last two quarters.Even after more than 150% rise over the previously recommended price , still there is scope for multibagger kind appreciation from current level of Rs. 194/-
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