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Note: The artciles are not research reports but assimilation of information available on public domain and it should not be treated as a research report.

Registration status with SEBI: I am not registered with SEBI under the (Research Analyst) regulations 2014 and as per clarifications provided by SEBI: “Any person who makes recommendation or offers an opinion concerning securities or public offers only through public media is not required to obtain registration as research analyst under RA Regulations”

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Saturday, May 26, 2012

Longview Tea Company Ltd:Buy/sell/growth prospects and recommendation,news and results,target and analysis,view and outlook,multibagger

Scripscan:Longview Tea Company Ltd
cmp:6
Code:526568

Investing-reflections:Longview Tea, contrary to its name, is primarily in the business of making loans and advances.These loans and advances appear largely uncollectable. Moreover, it is the recipient of interest-free loans from other companies – the repayments appear to be in doubt.The company generates no revenue and reported continuous operating losses in the last five years. It also owes about 50lacs of net debt as at 30th September, 2011.Management haven’t bothered with discussing the company and its plans – perhaps their mood is killed by the company’s large accumulated losses.The company’s auditors have pointed to the lack of provisioning of 35lacs for uncollectable debtors, 41lacs for uncollectable loans and advances and 1.43cr of uncollectable interest. The loans and interest haven’t been classified as ‘non-performing assets’ per RBI norms.Further, the company still hasn’t obtained registration from RBI for its lending activities – although these appear to have ceased for the time being and the company hasn’t accepted public deposits.

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