Mar’22 Qtr sales was 99 cr. then cost of service was 81 cr (payment to lounge operator). The FY22 year end trade receivable was 90 cr. vs trade payable of 71.2 cr.
Now Mar’23 Qtr sales are 237 cr.vs cost of service as 195 cr. The year end receivable is 201 cr. vs payable of 139 cr.
in Q3 call they mentioned receivable cycle was roughly 90-100 days.
So basically close to one/last quarter of sales is stuck in receivable and this is as per the business cycle explained by mgmt.
Most of their payable is to the lounge operators. Their tech platform is internally managed by their employees. The total of 64 employees, is including tech guys.
They raise a bill to the Bank/CC for the total cost of lounge service access by customer. Banks/CC pays DFS, they keep their cut and pass the agreed rates to lounge operators. This has been explained in the call and interviews.
They have different agreed cycle with different vendors.
| Subscribe To Our Free Newsletter |
