Thanks for the jist.
Their repeated underperformance just reminded me how not to get fooled by “1st time concall” and “big guidance”. After Q1 they told Q2,Q3,Q4 would be much better subsequently because the invoice of the projects gets into account at the latter Qs of FY. High promises on topline and Ebitda margin.
After Q2 they said Q3,Q4 would do better.
Now the goal post keeps shifting and excuses of market condition, some other player taking their market share keep coming. Those might be genuine reasons but then why show overconfidence in concalls!
Disc: Invested
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