Yes please if the original posters of the article could clarify on the accounting treatment of lease as mentioned by poster above.
Another clarification is mentioned re inconsistencies around the number of store additions and Gross Block. It does seem that in 2022 they did invest heavily in stores (new + old).
A comment was made that replacement of Air Conditioners was a one-off capex for replacement in old stores. Now when the air conditioners (in the old stores) were capitalized they would have also been depreciated over a period of time. I generally agree that the Net Block (Gross Block - Depreciation) should have been eliminated from the books which is a possible accounting oversight. Though management should clarify and state how much pertains to refurbishment and how much for new stores.
If there are concerns about management siphoning off funds I think one should look at the disclosures where management (and family) state the remuneration they take out from the business (which appears a bit high). I don’t like it but I think it’s in plain sight for everyone to see.
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