Indian Rest. Share Discussion Threads

[mike_f] 26/6/2009 13:32

Anyone else invested in here???

[mike_f] 26/6/2009 11:24

6th May Vikas Nath buys 29% of the company... that says confidence to me...

[mike_f] 26/6/2009 10:50

They have more cash than their market cap (or did) can confirm that when the prelims are out... and you get the company for free in effect i feel that they have fallen way more than they should of done and feel a fair value is around 6p atm. Are you invested in here?

[shaid1] 26/6/2009 10:37

Mike

why is it cheap?

[mike_f] 26/6/2009 10:34

Topped up with a little this morning, way too cheap at this price. GLA

[mike_f] 24/6/2009 11:58

Prelims out by the end of this month...

[hywel] 27/3/2009 16:52

Anyone still here? Results out today:

www.investegate.co.uk/Article.aspx?id=200903270700105728P

The Group generated revenues of £1.54 million in the year to 30 September 2008 and made a loss before tax of £0.49 million, compared with a loss before tax of £0.26 million in the previous period. Loss per share for the year amounted to 4.2 pence, compared with a loss of 2.8 pence per share in the previous year. As at 30 September 2008 the Group had net assets of £2.79 million, versus £2.42 million for the previous year. The cash position for the Group at the year-end stood at £1.37 million.

Outlook
We are keenly focused on effectively managing the Group through the current,
challenging economic conditions and believe that each of our brands offers
outstanding and competitive value to the increasingly discerning Indian food
consumer. We will continue to make adjustments to menu offerings and to our
promotional activities with the objective of growing our business.

Whilst we have adopted a cautious approach to expansion in the light of current
conditions, we continue to believe in the outstanding medium-term potential of
rolling out a chain of branded Indian restaurants in the UK.

[the big fella] 28/11/2008 15:35

I suppose you would need them with the string of horror investments (punts) you have made recently.

[hardie1960] 27/11/2008 14:48

Are they doing any Christmas Specials ? lol

[johnma] 20/11/2008 15:07

Mr Nath - increasing his stake again!

[the big fella] 11/9/2008 12:17

Share price does better when we don't post. Sssshhhh.

[stuart14] 23/7/2008 09:37

Yep you are wrong. Blue Star Capital are in the placing Doc.

As for the unit cost for BB, bear in mind the 17 takeaways are not full units, they have no restaurant or seating, just a desk and phone for pick-ups /take aways.

The beauty of BB was the Centralised Kitchen, all food cooked in one place and then sent out to the units where they are reheated before delivery. Not high end eating by any stretch but it keeps the economics low.

IRGP were also after BB, shame they didn't get it. They also plan a centralised kitchen in the future.

Clearly we've stumbled early on, the market isn't going in our favour, but I truely believe these guys are taking a professional attitude towards expanding the business. It is a challenge, clearly priced as such, but if they can overcome it they will have a good viable business on the back of it.

I'm wondering whether the next step for IRGP would be a takeaway business. The unit cost will be tiny, all you need is a basic kitchen and a waiting area. They can take food cooked from one of the restaurants during the day (during the quiet period) and heat it up there for the busy delivery time in the evening. One of the resaurants is clearly quiet during the day, turning that into the centralised kitchen would make sense. 17 takeaway units would easily be acheivable over a short period. If we would be valued at £4.4m then you'd be looking at a 60p share price!!

[ntv] 23/7/2008 09:31

bit like the liabilities assumed on purchase?

[ntv] 23/7/2008 09:30

stuart

i work that out at that BB cost the buyers £220k per unit(price is based on your figures you have have posted and possibly excludesany debt assumed) not the over inflated rip off price IGRP paid

also this goes to show that the cash in IOS could have been much ,much wiser

also re HK shares igrp,i have only used what imfo that was contained in the placing doc unless that is wrong?

[stuart14] 21/7/2008 13:12

Did you see Clapham House sold the Bombay Bicycle Chain last week? 3 Restaurants and 17 Take-aways. £4.4 million. We are undervalued here whatever way you look at it. Scale up the business and we'll be laughing.

[stuart14] 21/7/2008 12:44

NTV, I'm getting fed up with some of your posts. How can you say HK has no shares, he owns Blue Star for Gods sake.

Now, you are right they've taken on liabilities, show me a restaurant that has none, but you are wrong and keep posting incorrectly when you don't take into account that a larger amount of those liabilities do not come into affect until the company performs, and then they will be met with paper (i.e new shares) not cash.

[ntv] 20/7/2008 12:36

would anyone from the DD invested
i think/know not

[ntv] 20/7/2008 12:08

he is the balance sheet as i have worked it from the interim results

good will 2,803
property 497

inventories 24
trade rec 374
cash 2,267


liabilities

payables 1,671
lease 55
other financial liabilities 1,200

as you will see my balance sheet shows the detail a bit better but still adds up the same
unfortunately it also shows what an appalling purchase this was and how the cash nett assets side of ios has been lost

what you basically have is around £994k left in the business after all the costs a have been stripped in a very short time
which absolutely horrendus imho

if you two invested with no idea on basic a/c then you are all the more foolish or too close for comfort
all i can say to you is watch learn on how this works and perhpas you will learn a lot
HK has no worries here as he holds no shares and but gets a salary

after all this bickering on how we view a/cs you will now doubt notice your shares have fallen from 20p backed by cash to about 4p , backed by about £1m
if there was a buyer you might be able to sell them
with losses adding up all the time as the business losses money

[stuart14] 15/7/2008 15:11

NTV, please call Haresh, 0207 297 0010. I'm not an accountant either but I think you've got it a little wrong. Agreed liabilities are rising, and cash is falling, but you've also got to take into account the paper that could be issued if performance targets are met as part of the deal. This is a liability over £ million at least. Even then if the targets are met the paper will be issued at 26p, 5x todays price.

[the big fella] 15/7/2008 13:50

NTV - You appear passionate about this issue, rightly or wrongly. Pick up the phone and ask them yourself. You will not be satisfied / dissatisfied fully until you do so.
I am not a qualified accountant so as such am not best placed to comment on where this should appear in the accounts. They would have been audited so we can only assume them to be correct.
They do have the earn out liability and I can't see it anywhere else. Therefore I am still of the opinion we have the cash in the bank (for now). And if current trading is poor and targets not met the liability will fall. I would be happy to see the earn out paid as it would mean we have the seeeds of a successful business.
I'd say the odds of success here, given the state of the economy are large - which probably explains why we are trading at under a third of cash values.
No point selling. The offset to capital gains could at least be worth 8k

[ntv] 14/7/2008 19:16

what yo are baically saying is that current liabilities are £1.6m for the resturant business?

[ntv] 14/7/2008 18:25

surely the share liabilities would be listed as creditors due in more than one year?