Most of the receivables are from Subsidiaries like loans given to them, majority of them are considered as good and unsecured as per annual report. Basically this business needs huge working capital requirements, Hence trade payables and receivable will be high. Company has to make a balance and run the show. However Trade payables started decreasing, which should be a good sign. Now as the demerger happening, some of their subsidiaries might be paying back the loans. Hence the number is low (or) These things would be moved to balance sheet of subsidiaries, As a result of it there would be decrease. however one need to wait to see their subsidiaries getting listed to see this.
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