Thank you again, Rinku. About increase in margin was the first observation from my side when I looked at it.
Even if the contingent liability is below 15% of the last year’s PAT, I will still ignore but it is more than that plus zero cash flow. It does not mean that company can not do well in the future. I will personally avoid such a company but anyone who has a risk appetite can take a position with a solid exit strategy and certain allocation as a satellite portfolio. Appreciate all your view and it is always pleasure to learn from each other!
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