The company must do concalls if they’re planning to expand beyond a regional hospital. There is a clear lack of visibility due to which haven’t invested beyond a small % in last year. Look at Asarfi, which is an SME company who have started concalls

I think we must think twice before passing off our opinions or assumptions as facts. The promoters have suffered along with the investors since 2010:

1. They pitched a turnaround opportunity to Longsheng and were actually able to turn it around. Then they saw it fall flat as Senda refused to listen to them on any part of their business
2. Their current dyes business suffered not only due to industry dynamics but also because a lot of their energy and money had to be spent fighting out this case in Singapore
3. All this while they’re seeing huge bull markets come and go, new industries and cycles playing out
4. They also don’t want to stagnate and want to grow their business which doesn’t happen if you pay off everything as dividend. They themselves would become much richer if they had paid off the dividends and started another company
5. They have roped in experienced professionals to invest in sunrise sectors as any businessman wanting to diversify should
6. Copper production anyhow involves a lot of chemistry which they have experience in + utilizing the SO2 released to make fertilizers

They have at least 750Cr exposure:
400Cr exposure in Adani Ports via IDFC Limited (looks like one more legacy item).
250Cr exposure in Adani Enterprises directly via IDFCFB (not legacy).
Found these on free versions of Crisil and Care ratings websites. There may be more hidden/indirect exposures – I’ve not done extensive searches.

On top of these, there is about 345Cr exposure in Fusion Finance…
There goes at least next 2 quarter profits in provisioning, unless Mr. VV has already provisioned for some of these