Thanks a lot for creating this thread and for a thorough introduction. I had found this company in March after coming across an interview of Mr Ashish Rai on Nirmal Bang’s YouTube channel. Was surprised to see that a company that had been growing quite fast over 8 quarters was available for single digit PE. Tried to find any evidence of fraud or egregious wrong doings on the promoter’s side. Promoters had pledged their shares and the intangibles write-off issue surfaced, but didn’t think it counted as fraud, so had invested. It has almost doubled in less than 2 months. Now I’m confused whether to hold or not.
Ashish Rai is the reason I feel they might do well, but the receivables issue is bothering me. If they improve operating cash flows over the next few quarters, it will give me more conviction for the long term.
Disclosure: Holding for now, will not add more till cash flows improve. No transactions in the last month.
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