Although we see this quarter as a good result, for me it is not because has been highlighting that their focus is on molded products.
From the above one can see they are unable to scale the molded business and remains unprofitable.
Also management are announcing capex outside of India, I think there is lack of focus to scale and make the molded business profitable rather than doing everything at once.
The only reason we can see topline and bottomline grow is because paper cycle and reduction in fuel cost
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