Treehouse education & accessories:
- Incessant pledging ( as early as Friday evening)
- Poor cashflows, high account receivables. Aggressive accounting : brought to light by a NGO
- Spiraling Debt : A increase of 60% in one quarter. This is after a equity dilution to QIP in march for 200cr!!
A easy to understand business. Throw in words like niche, scarcity premium , high growth(investment driven and not by internal accurals ), FII validation(easy money).
A perfect WEALTH DESTROYING machine.
Disclosure : Invested from 2012. Exited on friday.
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