Finally talked to Mr. Abhay ( Investor relation ). He was very polite and informative. He is ex – banker from top finance firms. I asked him about question raised on revenue from Dubai. He answered it well. Most of Media companies have offices in Dubai since there is tax incentive on Media contgent. Though the revenue shows in Dubai is large it does not have anything to do with number of subscribers. Infact sometimes Indian TV guys buy content in Dubai. Now the revenue number can be inflated in terms of forward booking hence receivable days are high. I am no expert in corporate finance and does not have any capacity to find if company is inflating revenue.
He was very firm in denying the allegation. He believes that they are target of short sellers who are creating rumor mongering. Same thing was done on netflix stocks in USA market.
I appreciate his willingness to talk to a small share holder. Got other insights on this stock.
Disc:- Have position in the stock.
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