I have 3 observations
1. There has to be other competitor in India which is exporting engineering quartz because number do not match up. (Asian Granito also makes quartz as I read in their investor’s presentation).
2. Their Apparel business remains a drag with 4 cr loss in this quarter. (may be promoter is siphoning money off from there).
3. Finance costs has increased from previous quarter with more or less same structure. I think last time also management were charging the interest which they were supposed to, so why there is an increase in Finance Cost?
Would be glad if you can throw any light on this.
Disc. Had increased my holding to 15% of my portfolio from 5% after looking at the stone update data. Considering to reduce the allocation because my assumptions (like monopoly in engineered quartz, etc) appears to be wrong after watching today’s results
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