[windywendy]

@ wanaj0, I doubt that anyone would disagree that buying into a company means buying into its future and not its past, and that's the reason most of the analysis you see here are based on questions about a company's prospects and not on the company's past.

The question is: Is NAHCO a good investment compared to other alternatives on the NSE?

Subject to the information that I see published in the prospectus, I would say the company is poised to do very very well in the future. Now I can't say for sure if they will grow profits by 150% (and I wouldn't know why anyone will place such an unsustainable expectation on any company) but what I can say is that they are in a really sweet spot right now -- they're the major player in a market that can only grow going forward. This is especially good given that entry barriers into that market are high. Also, the fact that they're increasing investment will heighten those barriers and help them consolidate their position. This to me is what I like most about NAHCO.

All other things factors, such as the fact that most of the shares is held by investors that are unlikely to trade them on the floor (thereby reducing available float and potentially increasing capital appreciation), etc are just icing on the cake. Of course, no one is expecting that NAHCO stock will do another 1000% (and I don't believe those are the expectations you would set while investing in a stock). But given its position, I believe the company is one of the few whose performance will likely be extremely good, just like DSR going forward.

All of the above however depends on Management's strategy and how they intend to take advantage of the position they're in. Hopefully we'll find out when the prospectus comes out.