Krsnaa Diagnostics – what is the diagnosis?

The thesis is broken, bent & beyond belief IMO

When investor started it was a co creating value in B2G segment. Since then 2 key triggers have played out:

1. IT raid across multiple locations. From my channel checks, an IT raid is a big deal & impossible to orchestrate without some prima facie evidence that IT dept has of some sort of tax evasion.
2. Thesis was for 40% CAGR growth. For 40% CAGR growth the B2G risk was worth owning IMO. If growth guidance is reduced to 20-25%, why would an investor still want to own krsnaa? There are 100 other cos who have a 20-25% growth guidance without the added negatives of downward test realisation, downward growth guidance, Corporate governance risks playing out live in front of us. Writing is on the wall & there for everyone to read. Even if co grows 20% but derates 30%, investor makes negative returns.
3. Punjab ramp up has been quite lacklustre.

Disclaimer: was invested, sold out, tracking closely & still in the krsnaa cheer leading squad (of course i want co to do well).