Turnaround of the Company: In 2001, IFB Industries was declared as a “sick company” on account of slowdown in business and heavy debt burden and therefore referred to the BIFR (Board for Industrial and Financial Reconstruction). The company recorded a loss of Rs 145.34 crores and a total accumulated loss of Rs 266.72 crores for the year ended March 31, 2001. On 14th January 2009, a draft rehabilitation scheme submitted by the company was approved by BIFR and the company ceased to be a sick unit and was hence discharged from the purview of BIFR. The company’s net worth had become positive and it had also managed to convert itself into a debt free company by March 09.
That time it was under 5 rupees.. today ahare price is in 700s with market cap over 3000cr.
Search for turnaround companies, its not hard.