The Q2 results were weak as compared to past performance. However, I have query regarding related party transactions.
As per latest report, promoters have taken loans of Rs 44 crores (?!) outstanding as of now. The last quarter net profit is Rs 8 crores. Also, as per note, “Interest at Maximum 09.00% per annum on the Amount outstanding on Running balance basis”
My concerns,
(1) Is these loans given to promoters high ? Low? Acceptable?
(2) The interest is maximum of 9%. So in reality the interest could be lower than that as well?
Thoughts?
Where can we see these loans in financial statements?
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