madhav marbles

this is another small or micro cap which has made a a rather curious sale

first some backgroud about its price


2011 28.90 18.25
2010 47.80 23.85
/2009 35.90 9.81
2008 135.00 13.10
/2007 162.25 69.20
2006 171.35 59.05
2005 108.50 44.50
2004 59.50 18.20
2003 35.00 11.00
2002 15.70 6.00


itmakes sudden spurrts and then just drops dead ...... mostly operator activity

United India Insurance holds 4 percent ......it pays regular dividend and it looked like a decent smallish small cap ..... untill this is what they did recently

Scrip Code:515093 Company:Madhav Marbles & Granites Ltd
22 October 2010
Subject: Updates
Announcement: With reference to the earlier announcement dated October 18, 2010, regarding Board of directors have finalized M/s. Mahatma Marble and Granite Pvt. Ltd. as buyer for the major capital assets of Marble division situated at Udaipur, Rajasthan, Madhav Marbles & Granites Ltd has now informed BSE that the agreement and necessary terms and conditions with M/s. Mahatma Marble and Granite Pvt. Ltd. had been executed by the Company and sale price of the assets is finalized at Rs. 4.21 Crores.

the price 4 crores odd seems very little when you consider that the company has 2 units one in rajasthan one in Tamilnadu and the gross block has been valued at 70 crorers in the 2010 balance sheet so that means the
the TN unit (marble unit ) is worth 55 odd corres and the sold rajasstan unit 4.2 crores
also the buyer is a one year old company incorporated in march 2010 with a capital of 30 lakhs