I was going through their latest Annual Report and noticed some additional points which might be useful for others.
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Company has a new CEO, who is 71 Years old and has no past experience with the field of Robotics. Why would a tech company hire a new CEO who is in later stage of his life is beyond me ? How can he inspire and match up with the energy of his young colleagues ?
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Compensation of CFO is 13 lacs, whereas for MD it’s 84 lacs. Even a decently experienced CA would expect more than that. There can be two possibilities for this, either CFO is working part-time, thus having additional side income to cover his expenses or this is the best he can get in the industry.
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Salary for MD is large as compared to the kind of numbers business is generating. 84 lacs for 81 cr total sales is on the higher side.
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In year 2020 and 2021, Material Cost is 0%, Mfg Cost is 69% and in year 2022, Mfg cost is 0% and Material cost is 62%. This is a major change in expense pattern, closer look at this might explain how company is generating sales.
Disc: Not invested