A lot of mutual funds increased their stakes in the Bluestar last month by more than 50 percent.
Therefore I took a look into Edelweiss research report on management meet. Everything looks positive
but CFO not increasing and debt not going down is confusing me :
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They have been gaining market share since few years.
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Revenue contribution from Unitary Products is increasing since many years and now stands at 43. I am guessing that unitary products has better cash conversion cycle and hence there cash flow should be increasing since last many years but it is not visible.
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They have become conscious before bidding for the government project(known for reducing CFO and increasing cash conversion cycle) but still there CFO is not increasing and their debt is still increasing.
Disclosure : Not invested
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