They had very low inventory in end of September (~102 cr.). Their December inventory was 439 cr. So, they were buying more paddy and rice in Oct-Dec period. The way this industry works is most paddy buying happens around October period, when is end of harvest season. So its highly unlikely that they had benefitted from low cost inventory, because they had very little at end of last quarter.
Also, inventory has a much larger role in other cos like KRBL and Daawat as their business model is around rice ageing, Chamanlal doesn’t do much rice ageing.
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