I don’t think there are adequate disclosures from the management regarding many things. Some things I was not happy about:
- The concall was just a formality with no substantial information shared, just plain vanilla statements.
- The management’s comments on the business were exceedingly long with multiple vertical heads (>7-10) eating up valuable Q&A time.
- The management was also dodging specific questions regarding recent resignations and other issues in the Q&A.
- The entire concall was close to 30 minutes with management’s statements eating up almost 20 minutes, leaving only 10 minutes for QnA.
- Despite painting a rosy picture in the concalls, the promoters have constantly reduced their stake since 2017.
Basically, I learned nothing about the business after reading the concall and it only raised more questions regarding management integrity.
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