excuse me for interrupting.
what went wrong is that they have several segments, previously they were heavily into govt project EPCs, there were 2 projects in particular which had issues from the client side (WIL did their part), which led to funding issues, as these clients didnt pay.
to sustain their operations they needed funds, debt was already fully utilised according to the bank limits, so they went to KKR.
post that covid hit, and what was in the dump, got more deeper in the dump
funding is the key, this industry is pretty capital intensive. they have the knowhow, the tech and the certifications/brand in their space, all they need are funds to support wc.
they have also gotten out of the govt epc space, and will focus only on pvt entities.
now regarding the tailwinds, i am sure you can read them everywhere.
my thought is i see several entities using these keywords like space, aero, defence, but here we have an entity who truly does it.
you need to understand these are temporary things, yes its a bad show from the side of the mgmt, but we as investors cannot have the answer to everything, if we did then WIL wont be at the valuations it is today
fy25 needs to be better, one needs to closely track execution, thats the key to it all.
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