Dynacons Systems & Solutions Ltd – A growing IT company

@SAURABH_SWARAJ
Appreciate the quick follow up with the company of this issue. Good to know the respective function at DSSL ensured you got in touch with the CS.

With Debt increasing by ~9x from ~7cr (FY12) to ~68cr (FY22), cumulative OCF/PAT % generated across multiple periods in past 10yrs being either -ve or < 40% and Interest Coverage improving only post FY20 (year CARE mentions issuing ‘Non Cooperation’ rating, DSSL’s ‘Revenue Recognition’ and ‘Cash Collection’ needs to be drilled further to get a better understanding of the business.

Below excerpt of auditors from FY22 AR;