As per the management the reason for poor results is non-movement of high margin shipments to China due to covid lockdown and some pressure in Europe due to Russia – Ukraine war.
They tried sending some small shipments to China to test if they could be moved but they were stuck at airports and could not be moved.
Also, the demand for products is intact and as soon as China opens-up they can move the product.
There was also some talk of recovering what has been lost in this quarter in coming quarters.
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