I was going through the Q2 concall and it really gave very negative impressions to me. The CFO and CEO kept saying one standard phrase “we cannot give forward looking guidance, we do not know how it will pan out, we do not know how much would be the demand from customers”.
One can understand that the business is such that you cannot earn regular fixed revenue contracts but being the KMP running the show, you must be having fair idea of what can be the trajectory, the expected pick-up or consolidation in business!
They looked very defensive and appeared to be in no mood to make the interaction fruitful. Infact they did not talk about numbers at all! All they said was, at best, generic vague statements!
Radhesh Welling has resigned, Promoter holding is at 28%, No guidance/ affirmation from Management in the concall and a clear expression of not meeting the FY24 revenue guidance!! I know chemical space is in trouble at the moment, but the Management can soothe some nerves on the concalls, which was not the case here!
I would be really happy if someone from the forum can also share their views on the concall. Maybe I took some of the comments, the other way!! (Who knows)
Disclosure: Invested around current price. No buy/ sell recommendation.
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