@GrowingAlpha no need to apologise mate. As somebody who has a large portfolio position in Tanla and has suffered the brunt of this brutal fall, I very much appreciate sincere bear thesis presented in a calm and factual manner. I don’t agree with your interpretation of the Forbes article and will detail that out tomorrow, but appreciate the evidence based cautions. I hope to write a detailed post tomorrow about the developments of the past few weeks and my thoughts on them.

Sincerely believe its very important to hold the anti thesis pointers closer to one’s chest than pro thesis pointers especially in scrips where position size is large.

Will delete this post soon.

Of course not. Where did I mention that.

All I’m saying is red flags exist, haven’t called biz a fraud at all. Cg issues exist, past record isn’t clean, political affiliations exist. Price action shows a graver story than just poor biz performance(this is however subject to change, so you may disregard this one), my impression of the promoter fell after forbes article(which I maintain seems to have been written for a reason). All I’m saying is as shareholders of Tanla, these are points to keep in mind.

Who knows I might be dead wrong and they truly have turned around and are cleaner than before. Mentioning the bank accounts where cash is held doesnt mean its all clean and rosy, CG is just a parallel narrative to keep in mind along with biz itself.

Its a bit late and I won’t attach the article nor the chart(excuse my laziness) but the chart has been painting a bleak picture since a while(when I exited breakeven at 1377 or so). 2 high volume 20% drops are usually indicative of more than just poor biz performance for a quarter(again make of technicals what you will).

Again I might be wrong but regardless one should track this side too.

Disc - not invested since a while.

one more concall note with key insights mentioning cdmo revenue being one off.

Disclosure: Invested.