Will just comment that CG issue was not true and banks gave a clean chit to the company. Logically also allegations didnt make sense. the person is known to make frivolous allegations. Promoters own 67% in company with almost zero bank debt so dont see a reason why they should get involved in such activities. The only issue with company was wrong decision to expand very fast in India and China. They have learnt and thats why they were expanding very slow in India – and they were luckily proven right – as demand slumped due to CNG price rise. Demand will be back to normal in a quarter and hopefully expansion will be back on track – also JV in Egypt.
There is no doubt that LNG/CNG and Hydrogen are the fuels of the future – even Bio gas. Which all require cylinders !! Patient investors will benefit.
| Subscribe To Our Free Newsletter |
