SKM Egg Products Exports today informed the Stock exchanges that the Company has foreclosed all the term loans availed from State Bank of India ( Link HERE) . I believe, it is a remarkable achievement for the company and its promoters who struggled to repay its loan till few years back which even resulted in pledge invocation and selling of the shares by banks in open market earlier . More than reduction in interest rate , this clearly indicating promoters integrity and hard work to keep the promises they given to minority share holders .I hope, the entire shares will be pledge free in near future by this repayment .In addition to this , company may get better valuation in future considering the increasing strength of its balance sheet .Let us hope , the management will deliver similar promptness in other plans including revocation of suspension from BSE , achieving Rs.500 Cr turnover in another 2-3 years..etc
At least some of you may ask why there is frequent update on this company .I believe , beyond any monetary benefit as a share holder ( I am holding shares in this company which already disclosed in my initial posting itself) , it is our - retail share holders- duty to extent our moral support to a management who are trying hard to keep promises in a most transparent manner .If the great come back story of this company act as an inspiration for the promoter of another ailing company to fight and come back , that may bring cheers to another set of minority share holders . Above all , I always prefer to salute anyone who come back from the brink of collapse with their sheer hard work and succeed without compromising ethics and values in life .