Management reiterated the guidance of 20% plus growth. Due to the lumpy nature of the business, they expect revenues to flow in Q4 this Financial Year. However, I would like to see the lead time for stabilizing the subscription music model and events business go down. The lead time seems to be 12-18months over the last couple of concalls. I hope there is some progress in the upcoming discussions. Overall, management is sticking to their commentary and plans explained in previous meetings. The new ventures have not crossed 18% of the capital as per the commitment. The music revenues seem to be growing and the QIP funds have been deployed at a reasonable valuation. Caravan business continues to be breakeven(May be small profit). I personally blv the acquisition of Pocket Aces should work out given the synergies in the business.
Delivering on the guidance numbers for FY2024 will be the key to retain investor confidence in my humble opinion.
Disc: Invested
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