Toyam Industries was originally incorporated as Chetram Balkrishan Limited and later changed its name to Ojas Asset Reconstruction Company Limited before it was rechristened Toyam Industries in December 2016. The penultimate renaming was designed to reflect its changed business—from securitisation and asset reconstruction to general business and trading activities. Further, in April 2017, the company decided to expand and diversify its business to “all kinds of activities related to sports, fitness, fashion, films, entertainment or any other genre.” The surprising part is that, though the company claims it is has multiple services—sports, gaming, merchandise, fitness, healthy foods and beverages, investments and consultancy—its website provides no substantial information about the businesses, clients or any other important data.
The company claims it is launching an integrated fight league platform in India, registered as "K1L Kumite 1 League". The company had announced that it is launching its K1L series of products and services by opening a sports cafe in July 2017 in Mumbai. On its website, the company claims it has trained over 35,000 women students in self-defence at its KIL training facility. However, it is perplexing that no details have been provided on the website of the kind of training, nor proof of the training having taken place, nor annual reports. The company gives vague explanations in its ‘services provided’ section on the website. Here are a few screenshots which are quite bizarre.
Apparently, Toyam’s promoters don’t have much faith in the company. They have an extremely low shareholding of 4.71%. The company has a market-capitalisation of Rs127 crore. The sales of the company grew 1366% year-on-year (y-o-y), from Rs0.44 crore in the June 2016 quarter Rs6.45 crore in the June 2017 quarter while the net profit fell 94% y-o-y from Rs0.32 crore in the June 2016 quarter to Rs0.02 crore in the June 2017 quarter. The most amazing aspect is its stock price which rose 626%—from Rs1.31 on 14 February 2017 to Rs9.51 on 27 October 2017.