A couple of things that are concerning to me that I could not understand:
- Receivables have been growing up very rapidly: ~Rs 600Cr (by Sep 2023) vs Rs 450 Cr (March 2023). For a ~ Rs 1600 cr book value that is 40%. Why is this?
- Why does the company have such high bad receivables (see screenshot)? Doesn’t the company get paid by banks? Is this because money gets stolen in transit?
Can someone provide some insights here?
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