Hi @Jose, Maybe understanding the cotton cycle is their real moat; but then instead of tying up cash in inventory what stops them from hedging Cotton at Agri exchanges like MCX
Inventories as you very well explained in your previous post have actually seen a steeper rise; As per Dec Qtr results, crossing 60% of annual sales for the first time in the last decade. Proportion of FG inventories have risen which is more worrying;
Wish if we had more details around FG inventory type, Yarn Vs Knitted Fabric…
Why do you think they are becoming stronger in each cycle?
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