Just to clarify, I am least concerned on the office rent paid to related party. Red Flag I meant is spending over 5 cr for office building without a follow through on a major capex within next 2 years on capacity addition while locking up >100 cr cash in MF.
As much as I salute the company management for their remarkable performance in growing their business and shareholder’s wealth over the years, I also expect the team to vest more faith in their own strengths in furtherance of business and shareholders wealth rather than vesting faith on the Fund Managers in protecting hard earned cash.
2 years from now will be a reasonable time in my view for a break out either in form of a major expansion/diversification move or in worst case distributing surplus cash as dividends.
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