Hi guys - very interesting set of numbers.
Quick question - has anyone taken a look why CFO is negative right now ? Apart from investment in capex & capital WIP (which is fair), wanted to understand if it’s an acceptable trade practise to also use share proceeds to fund recievables (probably to the trade channel to incentivize them to stock the Annapurna brand), invest in inventory & give loans & advances - the amount invested in these 3 items look pretty sizeable. Or maybe they have used a part of their proceeds to fund their liabilities for now (I see Debtor days & Invetory days have gone down YoY).
Apologies if my question is a little naive, would be great to get some perspective on whether I am reading this right.
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