Hi James,
Thanks! KPI has moved up since the post, now the loss is negligible. This was a position which was entered at very high valuations, hence risk and volatility is there. The loss only appeared due to speculation about impact of duty waiver removal, which likely does not affect KPI since entire order book is only worth 6 months max at current execution run-rate. The duty changes likely only impact large scale muti-year projects of biggies like NTPC, Adani etc.
Energy costs due to coal price rise mean renewables have a kick, in arena of captive power etc. Company seems capable to scale and ambition is not lacking. Worth a bet, to see through execution in next few quarters and further if trend sustains.
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