The loan was taken for carbon business, however I understand your point that you expect Rain to sell Cement business to reduce debt sooner, Also the interest rate has increased form this quarter at 12.5%. we need to see how the company plan to reduce and what options they use. so far cement business was also earning profits. Since they have said there is no more capex and focus is on debt reduction that’s what we need to see in 1-2 years from now.
Jagan is a good capital allocator they have invested well when the debt had less interest rate, they should reap its benefits when market improves now… old investors should wait at least two more years to get clearer picture.
Thank you for bringing up these points,
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