Excellent Accounting stuff explanation Ashwini. I never thought there would be a difference in classifcation of trade payables vs current liabilities and between RM and logistics cost. Thanks much.
Thanks Varadha. Looks like unless you are a private equity fund, you can’t pass a inventory writedown just via the balance sheet 
– ( https://foragerfunds.com/bristlemouth/dick-smith-is-the-greatest-private-equity-heist-of-all-time/ )
Thanks Ayush. Given the nature of Avanti’s business, it would be unfair to compare Q4 to Q2 balance sheet. I was trying to understand the flow of business YOY. But your re-classification point is well taken.
My confusion stemmed from the fact that given Avanti wanted to ramp up shrimp processing (as feed business can only take it so far – or so, it seems from the surface), it was only logical that they might have procured shrimp from farmers (apart from in-house production) in exchange for selling them feed. This might have bloated trade payables. But then again, shrimp processing revenues (volume not given unfortunately) has steeply fallen. So, there was a dichotomy.
But if it’s just re-classification, then we should be ok. Balance sheet is anyway quite strong.
Kiran
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