The one mid-cap stock that appears simply waiting to graduate to the next league is Kesar Petroproducts. The pigments company comes from a background I can only describe as “romantic”.
Loss-making and a BIFR case and acquired by a new management. Bankers place restrictions on BIFR companies; you cannot borrow afresh; you can only grow through accruals. In Kesar’s case, the result was that the problem of a loss-making environment was replaced by the challenge of low capacity utilisation (usually accompanied by losses, as companies find it difficult to cover fixed costs).
This is where the Kesar Petro story becomes compelling. The
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