Hello,
This thread has been incredibly helpful.
I have a question.
There are unexplained services charges of 1.26 cr in FY22 (and 1.07 cr in FY21) to Duncan International (India) and New India Investment Corp, which are promoter entities.
There is an additional annual service charge of 1.08 cr, which is embedded in the highlighted line item below.
These service charges make up 1.7% and 2.1% of other expenses (and 0.6% of sales) in FY22 and FY21. These service charges are present in prior ARs as well.
Question: Does anybody know what these charges are for ? Dividends to these entities make sense, but couldn’t find any info on these charges. I can try my luck and write to the company, but thought of checking with this community first.
Btw, in addition there are miscellaneous expenses, which make up 1.8% and 2.0% of Sales in FY22 and FY2 , respectively. They could itemize this and provide some detail given these are not very small numbers. Anyways, any info re: service charges would really be appreciated.
Thanks,
Gautam
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