Look at the cash flows
Last 5 years -
Cumulative EBITDA: 126 crs
Cumulative Cash Flow from operations (ebitda after working capital changes): -13crs!.. meaning the company hasnt earned any cash though it shows profits on income statement
Cumulative FCF: -132crs
Cumulative FCFE: -156crs
The huge cash deficit is filled by 50cr debt increase and 100cr through equity issuance.
In short, the company is quite the cash guzzling machine!
I have not seen such horrible cash flow numbers on any company yet
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