Q1 results are out topline has fallen 20% and bottom line has fallen close to 50% QoQ.
Margins have fallen to a decade low of 11% ,contradictory to earlier guidance of management that margins of a minimum 18% will be maintained .
Will take managment guidance of growth targets of 30 to 40% with a pinch of salt considering the Q1 results.
what is surprising is despite a rise in fixed assets the depreciation amount is lower in this quarter compared to previous quarters
New capex has done more harm then good ,I hope this doesnt turn out to be a cyclical industry ,which might effect the bottomline further with more deprication and intrest hampering the bottomline.
Disc :invested at 1100 levels.
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