all their debt is short term. With such a huge increase in top-line and operations, perhaps they’ve needed adequate working capital through the year (not to mention they werent’ profitable enough either)
Maybe better to track their recievables and related cycles, working capital and related cycles & subsequently their ROCEs. But this clarity will only emerge over time.
Ultimately, one would want to see their accounting profits translating into cash flows and then through streamlining of the business & various other leverage kicking in, some free-cash begins to emerge and grow.
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