Let's have a closer look:
EPS - 18.98
Even at a price of 106, the PE multiple is 5.58
NAV per share is 72.81
These are figures for a solid, fundamentally strong stock.
If you look at the segmental results for the year, contribution from Tea to Gross profit has increased by 204.5% YoY, that of Rubber has grown by 187% YoY. "Others" category, which I am not sure includes what, also has icreased by 40%.
Even if they go for a 10 for 1 split, the EPS is going to be Rs1.9 and NAVPS is going to be 7.28, which is not bad at all, compared to many other penny stocks being traded.
The liquidity will increase with this split and sound footing in rubber will keep the company in good stead.
Interestingly, I did not see management sucking out earnings by way of "Management Fee" as in the case of BALA and MADU.