They have also spoken about how the 500 odd crores from Arrotex coming in, or the equity infusion from the promotors coming through soon will ease the liquidity position. They’ve alluded to improvement in business performance in not other regulated markets and the positive impact of the cost reduction measures. Nothing that we didn’t know coming up in this report IMO.
I believe that the business has bottomed and any positive surprise on Arrotex funds or reduction in price erosion could trigger a sharp rally.
Disclosure: Invested through a painful 12 months and hopeful of a turnaround.
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