Promoter is justifying son in law’s salary (marketing head) by saying his compensation is basis his last salary. But do these guys need such an expensive resources?
Prevest topline 50 cr, marketing head salary ~1.2 cr
Also 2% commission on incremental sales in domestic market. Commision to newly appointed marketing head inspite of such high salary?
It looks like the family is having a good time at the expense of shareholders.
They also look satisfied with the current performance (where QoQ topline declined) which is a sign of lack of ambition.
Time to scrutinize this thoroughly and take a decision to stay / exit post the current quarter results.
Also, I ran some background check on Mr. Vaibhav Munjal. Feedback from all three of the colleagues/reportees was negative.
In the last con call, he asked to repeat almost every question that was asked to him. Answers to those questions were also not satisfactory.
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