Source Natural, earlier known as Invinex Laboratories, was supposedly into pharmaceuticals products. It later changed its name to Source Natural Foods and Herbal Supplements Limited to manufacture foods and ayurvedic products, now in fashion. It apparently sells herbal products and supplements. On contacting the company, we learnt that it sells a product called Ojasvita, a milk powder that comes in three flavours, and another product, called Shakti drops, supposed to be some kind of energy drops to be added to water and taken as nutrients. These products are not sold directly, but can be bought through a website intriguingly called srisriayurveda.com.
The company claims to have sold these two products worth Rs10.93 crore in FY15-16 and made net profit worth Rs43 lakh. It has total assets of Rs6.62 crore; reserves and surplus is negative, at Rs88 lakh. In the past five years, the company has managed to achieve an average sales growth of 89.27%, but on a tiny base. In many quarters, it has either made no profits or has made a loss. Even with such strange fundamentals, the stock rose by 868%, to Rs115.25 on 21 February 2017 from Rs11.9 on 3 January 2015. The P/E is 80.84. A hot growth stock or manipulated scrip? We will never know because the regulators are somnolent.
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3) goto any sri sri store and check the label on ojisatva. Made and sold by this Co. 50% of their revenue